BioVaxys Technology Corp. Closes Listed Issuer Financing Exemption (LIFE) Private Placement

Core Viewpoint - BioVaxys Technology Corp. has successfully closed a non-brokered private placement financing, raising approximately $1.92 million through the issuance of 11,311,676 units at a price of $0.17 per unit [1][2]. Financing Details - Each unit consists of one common share and one common share purchase warrant, with the warrant allowing the purchase of an additional share at $0.40 for 24 months [2]. - The gross proceeds will be utilized for organic pipeline growth, including licensing opportunities, research collaborations, and various preclinical studies [3]. Use of Proceeds - The funds will support: 1. Licensing opportunities and research collaborations with DPX for targeted immunotherapies [3]. 2. Identifying GLP supply for preclinical studies related to peanut allergy vaccines [3]. 3. Initiating a food allergy program at McMaster University [3]. 4. Filing new patents and maintaining annuity payments for existing patents [3]. 5. Completing immunological data analysis from MVP-S phase 1 studies for out-licensing [3]. Insider Participation - CEO James Passin participated in the offering by purchasing 1,484,588 units for approximately $252,379.96, which is classified as a related party transaction [5]. Regulatory Compliance - The offering was conducted under the National Instrument 45-106, allowing units to be sold to purchasers in all Canadian provinces except Québec, without resale restrictions [3][4].