Pathfinder Asset Management Limited

June 25, 2013 14:58 ET

Acquisition of Shares of Avivagen Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 25, 2013) - Pathfinder Asset Management Limited ("Pathfinder") announced that on March 6, 2013, it acquired control or direction over a total of 7,000,000 units of Avivagen Inc. ("Avivagen") by way of a non-brokered private placement for aggregate consideration of $490,000.00 or $0.07 per unit. Each unit consisted of one common share in the capital of Avivagen ("Common Share") and one common share purchase warrant in the capital of Avivagen ("Warrant"). Each Warrant entitles the holder to purchase one additional Common Share at a price of $0.10 per Common Share for a period of 3 years from the closing date of the private placement. The securities are subject to a four month hold period.

As a result of this transaction, Pathfinder currently exercises control or direction over approximately 5.87% of the current total number of issued and outstanding Common Shares. In the event that all such Warrants are exercised, Pathfinder would exercise control or direction over a total of 14,000,000 Common Shares representing 11.09% of the current issued and outstanding Common Shares.

Pathfinder's acquisition was made for investment purposes on behalf of client accounts over which it has discretionary trading authority. Pathfinder may, in the future, acquire additional securities of Avivagen for investment purposes on its own behalf or on behalf of client accounts over which it has discretionary trading authority.

Contact Information

  • For more information, or to obtain a copy of the subject
    early warning report, please contact: Ken Bancroft
    c/o Suite 1320, 885 West Georgia Street
    Vancouver, British Columbia
    V6C 3E8
    604.682.7312