Original News Release
Vaxil Bio arranges $350,000 private placement
Mr. Gadi Levin reports
VAXIL ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Vaxil Bio Ltd. intends to complete a non-brokered private placement on a commercially reasonable efforts basis of up to 2,456,140 units of the company at a price of 14.25 cents per unit to raise gross proceeds of up to $350,000. Each unit will consist of one common share of the company and one common share purchase warrant of the company. Each warrant will entitle the holder to acquire one share at a price of 19 cents per share for a period of five years following the closing of the offering.
Net proceeds from the offering will be used by the company to support general corporate purposes.
The closing of the offering is subject to a number of conditions, including, but not limited to, approval by the TSX Venture Exchange of the offering.
The company expects the offering to close on or around Nov. 14, 2025.
On the closing of the offering, the company has agreed to pay certain finders a cash commission of up to 8 per cent of the gross proceeds of the offering and non-transferable warrants of up to 8 per cent of the aggregate number of units issued pursuant to the offering.
The units, the shares, and the warrants underlying the units and the finders' warrants, will be subject to a hold period of four months and one day from their date of issue in accordance with applicable securities laws.
About Vaxil Bio Ltd.
Vaxil was an immunotherapy biotech company focused on targeting prominent cancer markers and infectious diseases. Its lead product was ImMucin, for which it had received orphan drug status from the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA). The company is presently evaluating the pursuit other business, which may or may not be in the biotechnology industry, in order to enhance shareholder value.
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