BIOVAXYS ANNOUNCES PLANNED PRIVATE PLACEMENT AND DEBT SETTLEMENT

VANCOUVER, BC , July 23, 2024 /PRNewswire/ -- BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF ) (" BioVaxys " or the " Company ") announces that it intends to complete a non-brokered private placement (the " Private Placement ") consisting of up to 10,000,000 units (" Units ") at a price of $0.05 per Unit for total gross proceeds of CAD $500,000 , before deducting any offering-related expenses.

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 $0.15 for a period of 24 months.

Closing of the proposed financing is expected to occur on or before July 31st, 2024 . Closing of the private placement is conditional upon finalizing all contractual documentation and receipt of all applicable regulatory approvals and the policies of the Canadian Securities Exchange ("CSE"). 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.

Closing of the Private Placement is conditional upon a number of conditions, including finalizing all contractual documentation and receipt of all applicable regulatory approvals and the policies of the CSE. The Company intends to use the net 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 succe.