// NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES // VANCOUVER, BC , Oct. 5, 2024 /PRNewswire/ -- BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (" BioVaxys " or the " Company ") is pleased to announce that it has closed the fifth tranche (the " Fifth Tranche ") of its previously announced non-brokered private placement (the " Private Placement ") with the issuance of 4,500,000 units (the " Units ") of the Company at a price of $0.
05 per Unit for aggregate gross proceeds of $225,000.00 . Each Unit consists of one common share in the capital of the Company (each, a " Share ") and one whole Share purchase warrant (each, a " Warrant "), whereby each Warrant is convertible into one additional Share at an exercise price of $0.
15 until October 4, 2026 , being the date that is 24 months from the date of issue. The Company intends to use the proceeds of the Private Placement for general working capital purposes, including enabling the Company to fund and advance its business plans in regard to its successful recent acquisition of the entire portfolio of discovery, preclinical and clinical development stage assets in oncology, infectious disease, antigen desensitization, and other immunological fields based on the DPXTM immune educating platform technology, developed by the former Canadian biotechnology company, IMV Inc., Immunovaccine Technologies Inc.
, which was purchased from IMV USA ("IMV") on February 16, 2024 . No finder's fee.