Avivagen Announces Conversion of a Liability to Equity and the Grant of Options

OTTAWA, ON / ACCESSWIRE / May 19, 2015 / Avivagen Inc. (TSX VENTURE: VIV, PINKSHEETS: CHEXF), a life sciences company that develops and delivers products that support and enhance the health of livestock, pets and people, announces the conversion of a liability to equity and a grant of options.

CDN$20,999.95 in debt will be converted to common shares at a price of $0.072 per common share for a total of 291,666 common shares.. The liability was comprised of board fees owed to Mr. Amin Khalifa, member of the Board of Directors. The conversion is effective May 15, 2015.

Avivagen also announces the grant of 1,200,000 options at an exercise price of $0.09 per share. These options were granted to board members pursuant to the terms of Avivagen's option plan as part of an overall remuneration package.

The conversion of debt to shares and option grants described above are both subject to approval of the TSX Venture Exchange.

About Avivagen Inc.

Avivagen Inc. is a publicly-listed life sciences company trading on the TSX Venture Exchange under the ticker symbol "VIV" and on OTC Pink as "CHEXF." The Company's goal is to develop and deliver scientifically-proven solutions that benefit companion and production animals by employing natural mechanisms for maintaining good health. Target markets include Livestock Productivity and Pet Wellness.

Avivagen is based in partnership facilities of the National Research Council of Canada (NRC) - in Ottawa, Ontario and Charlottetown, Prince Edward Island. For more information, visit www.avivagen.com.

About OxC-beta(TM) fully oxidized beta-carotene ("OxC-beta")

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, by supporting immune function and calming excess inflammation. Avivagen's commercial-stage application of its technology is fully-oxidized beta-carotene. Fully oxidized beta-carotene compounds occur naturally as carotenoid oxidation products in vegetation, but in minute amounts. They have been developed to support companion animal health and for use in the global food animal market.

Research results indicate OxC-beta supports innate immune function and reduces late-stage inflammation, which can help maintain good health. In pets, OxC-beta supports overall vitality and energy, mobility and joint function, and skin, coat and gut health. Results observed in food animals have included healthier growth, more efficient utilization of feed and decreased morbidity. In food animals, it is intended that use of OxC-beta avoids the feeding of antibiotics. Avivagen's commercial products are OxC-beta(TM) Livestock (Kingdom of Thailand), Vivamune(TM) Vital Health3 Chews (United States) and Oximunol(TM) Chewable Tablets (United States).

About OxC-beta(TM) Livestock

OxC-beta(TM) 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 Avivagen or producer-developed protocols. In past studies, OxC-beta(TM) Livestock has been shown to support health or growth in species such as chicken, pigs, cattle and fish. OxC-beta(TM) Livestock is currently available for commercial sale in the Kingdom of Thailand.

About Vivamune(TM) Vital Health3 Chews - For dogs and cats

Vivamune(TM) Vital Health3 Chews, containing Avivagen's proprietary active ingredients, are scientifically-formulated chews for dogs and cats. Vivamune(TM) Vital Health3 Chews work with a pet's own immune system to help it 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) Chewable Tablets - For dogs

Oximunol(TM) Chewable Tablets are scientifically-formulated chewable tablets that contain Avivagen's proprietary, patented active ingredient OxC-beta(TM). OxC-beta(TM) has been shown to stimulate innate cellular immunity and may thereby help to maintain overall health and well-being. Oximunol(TM) Chewable Tablets were distributed by a multinational animal health company in the United States and Avivagen is now working to identify a new partner through which to distribute to veterinarians for dogs of all ages.

Permanent Non-Surgical Sterilization of Female Mammals

Avivagen has optioned worldwide exclusive rights to a technology for the permanent and non-surgical sterilization of female mammals. Proof-of-concept work is ongoing to demonstrate whether the technology appears to be safe and effective. It is expected that a patent covering World Trade Organization countries will be pursued and further information will be disclosed when a patent application is published or as otherwise deemed prudent or required.

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:
Avivagen Inc.

Cameron Groome, CEO & President
100 Sussex Drive
Ottawa, Ontario
Canada K1A 0R6
Head Office Phone: 613-949-8164
Website: www.avivagen.com

Copyright (C) 2015 Avivagen Inc.

OxC-betaTM, Vivamune(TM) and Oximunol(TM) are trademarks of Avivagen Inc.

SOURCE: Avivagen Inc.