October 20, 2020
Avivagen announces non-dilutive financing in support of increased product sales
Avivagen Inc. announced on October 15 that it has obtained additional debt financing of $500,000 through an unsecured Promissory Note from a Canadian financial institution.
The financing was secured due to a significant increase in orders for Avivagen's OxC-beta Livestock feed additive and the upcoming launch of its human nutraceutical product.
The note is payable on demand and bears interest at 12% per annum.
The funds will be used to support ongoing general operating activities which include, but are not limited to, the expansion of Avivagen's inventory in support of increasing frequency and size of orders for OxC-beta Livestock.