Vaxil Bio Ltd. (TSXV:VXL) announced a non-brokered private placement of 20,000,000 units at a price of CAD 0.075 per unit for the gross proceeds of CAD 1,500,000 on November 9, 2020. The transaction will include participation from certain directors and officers of the company. Each unit will consists of one common share and one common share purchase warrant. Each warrant shall entitle the holder to acquire one common share at a price of CAD 0.10 per common share for a period of three years from the closing. The Company expects to pay a finder’s fee equal to 7% of the gross proceeds of the Private Placement and additional compensation for acting as a finder in respect of the Private Placement, the company will issue to finders, selling compensation unit warrants equal to 7% of the aggregate number of Units sold by such finders in the Private Placement. The Finders Warrants will be exercisable into an equal number of Units, at an exercise price equal to CAD 0.10 per Unit, for a period of 2 years following the Closing Date. The transaction is subjected to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. The Company anticipates that the Private Placement will close on or about November 23, 2020.