On February 9, 2024, BioVaxys Technology Corp. closed the transaction. The company issued 16,716,666 units at a price of CAD 0.03 per unit for total gross proceeds of CAD 501,500 in its final tranche.

Each unit consists of one common share and one whole common share purchase warrant. Each warrant is exercisable for one additional common share at an exercise price of CAD 0.05 for a period of 48 months. The private placement is subject to the approval of the Canadian Securities Exchange.

The company has paid a finder's fee of CAD 16,976 in cash related to the final tranche of the financing.