// NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES //
Vancouver, BC, Oct. 4, 2024 /CNW/ — BioVaxys Technology Corp. (BIOV: CSE, 5LB: FRA) completed the Fifth Tranche of its Private Placement, issuing 4,500,000 Units at $0.05 each, totaling $225,000. Each Unit comprises one common Share and one Warrant, convertible to one additional Share at $0.15 until October 4, 2026.
The funds from this placement will support BioVaxys in advancing its recent acquisition of assets in oncology and other immunological fields. No finder’s fees were paid for this transaction, and all securities issued are subject to a hold period expiring on February 5, 2025.
An additional 1,532,500 Shares were issued at $0.05 per Share to settle $76,625 in debt owed to a consultant, subject to a hold period ending on February 2, 2025.
The securities mentioned have not been registered under the U.S. Securities Act and may not be offered or sold in the United States without proper registration or exemption compliance.
About BioVaxys Technology Corp.
BioVaxys Technology Corp., based in British Columbia, Canada, focuses on developing immunotherapies using the DPX™ immune-educating technology platform. The company’s DPX™ platform has shown promising results in pre-clinical and clinical studies for cancer and infectious diseases. BioVaxys’ common shares can be found on the Canadian Securities Exchange under “BIOV,” on the Frankfurt Bourse as “5LB,” and on the OTC Markets in the U.S. For more details, visit www.biovaxys.com.
ON BEHALF OF THE BOARD
Signed “James Passin”
James Passin, Chief Executive Officer
Phone: +1 740 358 0555
Cautionary Statements Regarding Forward Looking Information
The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this release. This
Biovaxys Closes Fifth Round of Private Placement, Continues Vaccine Development
Biovaxys Technologies Advance with Recent Private Placement
Biovaxys recently closed its fifth private placement round, positioning the company to further its vaccine development. Forward-looking statements in compliance with Canadian and U.S. securities laws underpin this significant move, highlighting Biovaxys’ proactive approach.
The company’s strategic use of proceeds from the Private Placement remains a focal point, signifying a positive step towards achieving its business goals. These statements emphasize Biovaxys’ commitment to developing and testing vaccines successfully, projecting confidence in the future.
While the forward-looking nature of these statements carries inherent uncertainties, Biovaxys remains steadfast in its dedication to advancing biotechnology products. The risks associated with vaccine development, regulatory approval, and market acceptance form a backdrop to Biovaxys’ ambitious endeavors.
As Biovaxys pushes forward, it faces various challenges common to biopharmaceutical companies. The need for additional capital, regulatory hurdles, and market viability all feature prominently in the company’s journey. However, Biovaxys’ focus on protecting intellectual property rights and ensuring product safety underscores its long-term vision.
Looking ahead, Biovaxys adheres to legal requirements regarding updates to forward-looking statements, showcasing transparency and accountability. This commitment aligns with the company’s ethos of responsible corporate governance and clear communication.
In conclusion, Biovaxys’ recent private placement marks a substantial milestone in its progress towards vaccine development. With a clear vision and strategic planning, Biovaxys demonstrates resilience and determination in navigating the complexities of the biopharmaceutical industry.
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*SOURCE BioVaxys Technology Corp.*
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