Avivagen Announces Grant of Stock Options

OTTAWA, May 30, 2017 (GLOBE NEWSWIRE) -- Avivagen Inc. (TSXV:VIV) (OTC Pink:CHEXF), a life sciences company commercializing products to replace the antibiotics used in livestock feeds, is accelerating market access and the commercial uptake of its OxC-betatm Livestock product, an innovative product that has the potential to eliminate the use of antibiotics as growth promoters in livestock feed, a problem that needs an urgent solution and which represents a multi-billion dollar market.

The Company announces that it has granted options to purchase 428,433 common shares to employees, management, board members, and consultants. The stock options were granted pursuant to the terms of Avivagen's stock option plan and are exercisable at $1.10 per share (the closing price of the shares of Avivagen on May 29^th, 2017). The options form part of the total remuneration package for the recipients. Stock option grants are subject to TSX Venture Exchange approval.

About Avivagen
Avivagen Inc. is a life sciences company that has developed a scientifically-proven product for replacing antibiotics in livestock feeds and to otherwise benefit human and animal health. Avivagen is based in partnership facilities of the National Research Council of Canada (NRC) in Ottawa, Ontario and Charlottetown, Prince Edward Island. For more information, visit www.avivagen.com.

About OxC-betatm Technology and OxC-betatm Livestock
OxC-betatm Technology is derived from Avivagen discoveries about carotenoids, compounds that give certain fruits and vegetables their bright colors and is a non-antibiotic means of maintaining optimal health and growth. OxC-betatm Livestock is a proprietary product shown to be effective and economic in replacing the antibiotics commonly added to livestock feeds.  OxC-betatm Livestock is currently registered and available for sale in the Philippines, Taiwan and Thailand. The Company intends to accelerate market access and the commercial uptake of its OxC-betatm Livestock product, an innovative product that has the potential to eliminate the use of antibiotics as growth promoters in livestock feed, a problem that needs an urgent solution and which represents a multi-billion dollar market.

Forward Looking Statements
This news release includes certain forward-looking statements that are based upon the current expectations of management. Forward-looking statements involve risks and uncertainties associated with the business of Avivagen Inc. and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions ?aim?, ?anticipate?, ?appear?, ?believe?, ?consider?, ?could?, ?estimate?, ?expect?, ?if?, ?intend?, ?goal?, ?helps?, ?hope?, ?likely?, ?may?, ?plan?, ?possibly?, ?potentially?, ?pursue?, ?seem?, ?should?, ?whether?, ?will?, ?would? and similar expressions or opinions of management. Avivagen faces risks and uncertainties in connection with its business, including, but not limited to, the following: Avivagen's ability to continue as a going concern, if the company can commercialize products to replace the antibiotics used in livestock feeds, if it can accelerate market access and the commercial uptake of its OxC-betatm Livestock product, if its innovative product has the potential to eliminate the use of antibiotics as growth promoters in livestock feed. Readers should also refer to the risk factors in Avivagen's Annual Information Form and other securities law filings from time to time. Accordingly, readers should not place undue or even any reliance on forward-looking statements.  Except as required by law, Avivagen assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright © 2017 Avivagen Inc. OxC-betatm is a trademark of Avivagen Inc.