Vaxil Announces Update on Non-Brokered Private Placement

Core Points - Vaxil Bio Ltd. announced a non-brokered private placement offering of up to 3,111,111 units at a price of $0.1125 per unit, aiming to raise gross proceeds of up to $350,000 [2][3] - Each unit consists of one common share and one share purchase warrant, with warrants allowing the purchase of additional shares at $0.15 for five years [2] - The net proceeds will be used for general corporate purposes, and the offering is expected to close around December 4, 2025, pending approval from the TSX Venture Exchange [3] Financial Details - The company will pay finders a cash commission of up to 8% of the gross proceeds and issue non-transferrable warrants equal to 8% of the total units issued [4] - The units, shares, and warrants will be subject to a hold period of four months and one day from the date of issue [4] Company Background - Vaxil is an immunotherapy biotech company focused on targeting cancer markers and infectious diseases, with its lead product being ImMucin™, which has received orphan drug status from the FDA and EMA [5] - The company is exploring other business opportunities to enhance shareholder value, which may or may not be within the biotechnology sector [5]