OTTAWA, ONTARIO, February 14, 2014 - Avivagen Inc. (TSXV:VIV), a wellness company developing and delivering products that support and enhance the health and quality of life for animals and the people who care for them, today announced that its board of directors has approved amendments to its stock option plan.
The amendments, among other things, increase the pool of shares available for issuance on exercise of options issued pursuant to the plan, from 10,751,051 to 15,907,934. This represents approximately 9.5% of the 167,451,943 issued and outstanding shares of Avivagen.
The other changes to the plan were made to reflect changes to the TSX Venture Exchange policies on stock option plans that have come into effect since the last amendment to Avivagen's option plan. None of the incremental pool has been awarded and the issuance of any new options requires approval by the Board of Directors of Avivagen.
The purpose of the option plan is to provide equity incentive compensation to employees, consultants, directors, and officers. A copy of the amended plan will be made available at www.sedar.com.
About Avivagen Inc.
Avivagen Inc. is a publicly-listed life sciences company trading on the TSX Venture Exchange under the ticker symbol "VIV". The Company's goal is to develop and deliver scientifically-proven solutions that can truly benefit companion and production animals by employing natural mechanisms for maintaining good health. Avivagen's targeted markets include Pet Wellness and Livestock Productivity.
The company has sites located in partnership facilities of the National Research Council of Canada (NRC) - in Ottawa, Ontario and Charlottetown, Prince Edward Island. More information can be found at www.avivagen.com.
Avivagen's proprietary and patent-protected technology is based on its discoveries concerning carotenoid antioxidants. The novel natural compounds discovered by Avivagen support the body's own systems to maintain and enhance health, particularly by supporting immune function. Avivagen's commercial-stage application of its technology is Fully-Oxidized beta-Carotene (OxC-beta). OxC-beta compounds occur naturally as carotenoid oxidation products in vegetation, but in minute amounts. They have been developed to support the health of companion animals and for use in the global food animal market.
Research results indicate OxC-beta supports innate immune function, which can help maintain good health. In pets, OxC-beta supports overall vitality and energy, mobility and joint function, skin, coat and gut. Results observed in food animals have included healthier growth, better utilization of feed and decreased mortality. In food animals, it is intended that use of OxC-beta avoids the feeding of antibiotics.
The commercial products of Avivagen are Oximunol(TM) Chewables, OxC-beta for livestock and Vivamune(TM) Health Chews.
About Vivamune(TM) Health Chews - For dogs and cats
Vivamune(TM) Health Chews, containing Avivagen's proprietary active ingredients, are scientifically-formulated chews for dogs and cats. Vivamune(TM) Health Chews work with a pet's own immune system to maintain overall health and well-being. They are sold in re-sealable packages of 30 chews and are currently available in the United States by ordering on-line at www.vivamunehealth.com.
About Oximunol(TM) Chewables - For dogs
Oximunol(TM) Chewables are scientifically-formulated chewable tablets that contain Avivagen's proprietary, patented active ingredient OxC-beta. OxC-beta has been shown to stimulate innate cellular immunity and may thereby help to maintain overall health and well-being. Oximunol(TM) Chewables are distributed by Bayer Healthcare LLC and are available through veterinarians for dogs of all ages in the United States.
About OxC-beta for Livestock
OxC-beta for Livestock is available as a 10% pre-mix sold in 1.0 or 5.0 Kg quantities for parts-per-million addition to animal feeds, in accordance with producer-developed protocols. In past studies, OxC-beta has been shown to support health and growth in species such as fish, chicken, pigs and cattle. OxC-beta for livestock is currently available for commercial sale in the Kingdom of Thailand.
Forward Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information:
CEO & President