Avivagen opts to settle fees for 10% debentures with common stock

By Taylor Fox

New York, March 23 – Avivagen Inc. plans to issue common shares to satisfy C$107,560 of annual maintenance fees due to the holders of its 10% secured debentures issued March 28, 2019 and April 9, 2019, according to a news release.

Avivagen has the option of paying the maintenance fee in cash or in common shares.

A total of 174,552 common shares will be issued on March 28 at the rate of C$0.603 per share to satisfy the maintenance fee of C$105,280 due on the debentures issued on March 28, 2019.

The number of shares to be issued to satisfy the C$2,280 maintenance fee for the debentures issued on April 9, 2019 will be determined on April 2.

Avivagen is a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications based in Ottawa.

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