Avivagen to Cancel Chinese Joint Venture

Ottawa-headquartered Avivagen Inc. has entered into an agreement that will wind up its previously announced joint venture (JV) in China established in 2016 with Shaanxi Jintai Mining Co., Ltd. (Jintai) for the purpose of registering and commercializing OxC-beta livestock feed. Avivagen held 49 per cent of the JV. Avivagen said termination of the JV was a necessary condition to enter into an agreement with an established market participant and will issue shares valued at up to C$300,000 to Jintai. The agreement also provides that Avivagen will issue up to an additional C$350,000 in common shares to Jintai if Avivagen enters into regulatory and/or distribution agreements with a certain party in China within one year.

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