Avivagen Inc. (TSXV:VIV) announced the appointment of a Special Committee of the Board to review and assess strategic alternatives for the Company to maximize stakeholder value going forward. The Special Committee will consider all potential alternatives including the sale, in whole or in part, of the Company. As part of that process and to support the strategic review, the Company has implemented certain cost cutting measures including reducing staff and suspending or terminating certain of its consulting arrangements in Asia and Mexico.

Avivagen's principal product, OxC-beta™, represents an innovative and science backed ingredient platform that has broad health and nutrition benefits in three major market verticals: livestock, companion animals and human health supplements. The technology is protected by a strong patent portfolio consisting of seven patent families. The chemical composition and mode of action are well understood and supported by six peer reviewed publications.

Efficacy for improving productivity in the food animal industry is supported by over 100 clinical and field trials and eight peer reviewed publications. OxC-beta has a well-established safety profile for animal and human use supported by an impressive history of use and a suite of internationally standardized safety studies. The product is approved for use in animal feeds in ten countries: Taiwan, Philippines, Thailand, Malaysia, Vietnam, Australia, China, Mexico and Brazil as well as being self-affirmed as Generally Regarded as Safe (GRAS) in the United States.

The product has been fed to over 46.6 million food animals (poultry, swine, and dairy cattle), 133,820 dogs and 4,000 people. With strong technical attributes, proven efficacy, robust IP protection and recurring sales to multiple international customers, the OxC-beta technology holds exceptional value. Updates on the strategic review process will be provided by way of press release, if and when they occur.

While every effort will be made to find a suitable transaction or series of transactions, there can be no assurance that any transaction will occur.