OTTAWA, Sept. 07, 2017 (GLOBE NEWSWIRE) -- Avivagen Inc. (TSXV:VIV) (OTC Pink:CHEXF) (Avivagen or the Corporation), a corporation with a proven and commercially-ready, patent-protected product intended to replace the antibiotics added to livestock feeds as growth promoters, announces that, in view of the progress of the Corporation, the board of directors has determined to suspend the CEO search and extend Kym Anthony’s appointment as Chief Executive Officer of the Corporation.
The Corporation also issued its third quarter financial statements and MD&A today and resolved to discontinue its chemistry operations. The financial statements and MD&A can be found on SEDAR and on the Corporation’s website. The contents of the Corporation’s website are expressly not incorporated by reference in this news release.
Avivagen Inc. is a public Corporation traded on the TSXV under the symbol VIV and is headquartered in Ottawa, Canada, based in partnership facilities of the National Research Council of Canada and Charlottetown, Prince Edward Island. For more information, visit www.avivagen.com.
About OxC-beta™ Technology and OxC-beta™ Livestock
Avivagen’s OxC-beta™ technology is derived from Avivagen discoveries about carotenoids, compounds that give certain fruits and vegetables their bright colors and is a non-antibiotic means of maintaining optimal health and growth. OxC-beta™ Livestock is a proprietary product shown to be effective and economic in replacing the antibiotics commonly added to livestock feeds. OxC-beta™ Livestock is currently registered and available for sale in the Philippines, Taiwan and Thailand.
Avivagen’s OxC-beta™ Livestock product is safe, effective and could fulfill the global mandate to remove all in-feed antibiotics as growth promoters. Numerous international livestock trials with poultry and swine using OxC-beta™ Livestock have proven that the product performs as well as, and, sometimes, in some aspects, better than in-feed antibiotics.
Forward Looking Statements
This news release includes certain forward-looking statements that are based upon the current expectations of management. Forward-looking statements involve risks and uncertainties associated with the business of Avivagen Inc. and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “could”, “expect”, “if”, “intend”, “may”, “plan”, “should”, “whether”, “will”, “would” and similar expressions or opinions of management.
Avivagen faces risks and uncertainties in connection with its business, including, but not limited to, risks relating to the following: Avivagen’s ability to continue as a going concern; whether the Corporation will resume the search for a new Chief Executive Officer, whether the Corporation can obtain market approval in additional geographies, if at all; whether it will be able to replace the antibiotics added to livestock feeds as growth promoters, whether it will confirm and expedite potential regulatory approvals of Avivagen’s OxC-beta™ for Livestock in major markets around the world.
Readers should also refer to the risk factors in Avivagen’s annual information form and other securities law filings from time to time. Accordingly, readers should not place undue or even any reliance on forward-looking statements. Except as required by law, Avivagen assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the 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.
Copyright © 2017 Avivagen Inc. OxC-beta™ is a trademark of Avivagen Inc.
For more information: Avivagen Inc. Drew Basek Director of Investor Relations 100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6 Phone: 416-540-0733 E-mail: firstname.lastname@example.org Kym Anthony Chief Executive Officer 100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6 Head Office Phone: 613-949-8164 Website: www.avivagen.com
Source: Avivagen Inc.