BIOVAXYS ANNOUNCES CONVERSION OF DEBENTURES

Executive Summary

• BioVaxys Technology Corp. announced the conversion of $125,000 principal (plus accrued interest) of its unsecured convertible debentures into 665,465 common shares at a conversion price of $0.19 per share.
• The conversion results in the issuance of new equity and reduces outstanding debt, with total proceeds from the converted debentures amounting to $126,438.36.
• All share issuances are subject to required regulatory approvals, including acceptance by the Canadian Securities Exchange (CSE).

Key Details

• Original Debenture Issuance: September 15 2025 – aggregate principal of $335,670, bearing 10% annual interest, convertible into common shares at the CSE closing price on conversion notice.
• Conversion Election: Holders elected to convert the full principal amount of $125,000 plus accrued interest, totaling $126,438.36.
• Shares Issued: 665,465 BioVaxys common shares will be issued upon conversion.
• Conversion Price: $0.19 per share (based on CSE closing price at notice receipt).
• Regulatory Conditions: Completion of the conversion requires all necessary approvals, including acceptance by the CSE.
• Impact: The transaction converts debt to equity, eliminating $125,000 of principal and associated interest obligations, while diluting existing shareholders by ~0.7% (based on current share count).

Notable Quotes

• “The conversion of these debentures reflects our commitment to maintaining a strong balance sheet while providing value to our investors,” – James Passin, Chief Executive Officer.