BioVaxys Technology Corp. announced a non-brokered private placement of up to 53,333,333 units at a price of CAD 0.03 per unit for total gross proceeds of CAD 1,599,999.99 on January 8, 2024. Each unit consists of one common share and one whole common share purchase warrant.

Each warrant is exercisable for one additional common share at an exercise price of CAD 0.05 for a period of 24 months. The transaction is expected to close on or before January 26, 2024. The company may pay a finder's fee related to the transaction.

Closing of the transaction is conditional upon finalizing all contractual documentation and receipt of all applicable regulatory approvals and the policies of the Canadian Securities Exchange. All securities issued pursuant to the transaction are subject to a statutory hold period of four months and one day from the date of issuance.