07:07 AM EDT, 06/20/2025 (MT Newswires) -- BioVaxys Technology ( BVAXF ) on Friday said it has amended the terms of its brokered private placement LIFE financing to update the post-consolidation exercise price of the common share purchase warrant that forms part of the units being offered to $0.50 from $0.60.

The company will consolidate its common shares on the basis of 10 pre-consolidation shares for one post-consolidation share.

It will also complete a concurrent offering of at least 5.7 million units at a post-consolidation price of $0.35 per unit to raise at least $2 million and up to 8.6 million units at a post-consolidation price of $0.35 per unit to raise up to $3 million.

Each unit will consist of one post-consolidation common share and one post-consolidation common share purchase warrant entitling the holder to purchase one post-consolidation share for a 36-month period from the offering's closing date.

Net proceeds will be used for research and development, general corporate purposes and working capital.

Closing is scheduled on or about June 30, subject to the satisfaction of certain conditions, including acceptance by the CSE.