BioVaxys Technology Corp

09:46 AM EST - BioVaxys Technology Corp : Announces that it has closed the first tranche of a non-brokered private placement. Pursuant to Tranche 1 of the Private Placement, the Company has issued 940,000 units at a price of $0.125 per Unit for total gross proceeds of $117,500. 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 $0.20 for a period of 48 months. The aggregate Private Placement consists of the sale of up to 6,000,000 Units for total gross proceeds of up to $750,000. Closing of the second tranche of the Private Placement is anticipated to be completed within the next few weeks. BioVaxys Technology Corp shares C.BIOV are trading down 3% at $0.16.

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