VANCOUVER, BC, Nov. 10, 2022 /CNW/ — BioVaxys Technology Corp. (CSE:BIOV) (FRA: 5LB) (OTCQB:BVAXF) (“BioVaxys” or the “Company”) announces that it has completed a non-brokered private placement (the “Private Placement”) consisting of 4,050,000 units (“Units”) at a price of $0.10 per Unit for total gross proceeds of $405,000. Each Unit consists of one common share (a “Common Share”) and one whole Common Share purchase warrant (a “Warrant”). Each Warrant is exercisable for one additional Common Share at an exercise price of $0.20 for a period of 48 months.

All securities issued pursuant to the Private Placement are subject to a statutory hold period of four months and one day from the date of issuance. The Company intends to use the net proceeds of the Private Placement for working capital purposes. The private placement is subject to the approval of the Canadian Securities Exchange.

The Company paid a finder’s fee of $18,400 in cash related to the financing.

In addition, the Company announces that further to its news release dated October 27, 2022it has settled an aggregate of $150,000 in debt through the issuance of common shares issued at a deemed price of $0.20 per common share.

About BioVaxys Technology Corp.

Based in Vancouver, BioVaxys Technology Corp. is a British Columbia-registered, early stage biotechnology company that is developing viral and oncology vaccine …

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