News Column

Canada : Immunovaccine Upsizes and Prices its Previously Announced Public Offering

August 27, 2014

Immunovaccine Inc., a clinical stage vaccine and immunotherapy company, has entered into an underwriting agreement and has carried out an overnight marketed offering to sell 9,153,300 units (the Units ) at a price of $0.95 per unit (the Issue Price ), representing gross proceeds of $8,695,635 (the Offering ). Each Unit will consist of one common share in the share capital of Immunovaccine (a Common Share ) and one-half of one common share purchase warrant (each whole common share purchase warrant, a Warrant ). Each whole Warrant entitles the holder thereof to purchase one additional Common Share upon payment of the exercise price of $1.24 per Warrant during a period of 18 months after the date of closing of the Offering.

The Offering is to be effected in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Nova Scotia and Newfoundland and Labrador by way of a prospectus supplement to Immunovaccine s base shelf prospectus dated August 27, 2012. Mackie Research Capital Corporation will be the lead underwriter and sole bookrunner on behalf of a syndicate of underwriters including Maxim Group LLC and Cormark Securities Inc. (together, the Underwriters ) on the Offering.

The Company has granted to the Underwriters an over-allotment option (the "Over-Allotment Option"), which entitles the Underwriters to purchase up to (i) an additional 1,372,995 Units (the Over-Allotment Units ) at the Issue Price, each Over-Allotment Unit being comprised of one common share and one-half of one additional common share purchase warrant (each whole common share purchase warrant, an Over-Allotment Warrant ), (ii) 686,497 Over-Allotment Warrants, at a price of $0.031 per Over-Allotment Warrant, or (iii) any combination of Over-Allotment Units and Over-Allotment Warrants, for additional gross proceeds of up to $1,304,345

The Company also intends to concurrently complete a non-brokered private placement (the Private Placement ) of up to $2 million of common shares of the Company. The common shares issued under the Private Placement will be issued at a price of $0.90 per share.

The net proceeds of the Offering and the Private Placement will be used to advance the research and development and clinical advancement of the Company s cancer and infectious vaccine candidates and for general corporate and working capital purposes.

The Company expects to close the Offering and the Private Placement on or about September 4, 2014, subject to satisfaction of customary closing conditions, including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, such as the approval of the TSX Venture Exchange.

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Source: TendersInfo (India)

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