Immunovaccine Announces Financing Plans

Wed Feb 6, 2013 2:41pm EST

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Immunovaccine Inc.

February 6, 2013 - 02:40:48 PM

Immunovaccine Announces Financing Plans

HALIFAX, NOVA SCOTIA--(Marketwire - Feb. 6, 2013) - 


Immunovaccine Inc. ("Immunovaccine" or "IMV") (TSX VENTURE:IMV), a clinical
stage vaccine company, announced that it has modified its financing plans and
intends to pursue a private placement of its securities in place of a public
marketed offering. The private placement will be for up to 6,060,606 units at
a price of $0.33 per unit ("Unit") representing gross proceeds of up to $2.0
million, and is expected to close no later than February 28, 2013. IMV has
received a lead order as well as commitments for participation from directors
of IMV.

Each Unit will consist of one common share and a warrant to purchase one-half
of one common share. Each full warrant will have an exercise price of $0.50,
exercisable for a period of 24 months following the closing date of the
private placement.

John Trizzino, the Chief Executive Officer of IMV, stated, "Pursuing a private
placement is in the best interest of the existing shareholders and new
investors and therefore would be more beneficial to Immunovaccine than a
public offering and so we have modified our financing plans."

Immunovaccine intends to use the net proceeds from the financing to fund the
preclinical research and development efforts in the areas of infectious
diseases, including respiratory syncytial virus, malaria and anthrax, to
specifically support a Phase I clinical trial, as well as ongoing development
and Phase II preparation of its clinical-stage cancer vaccine candidate
DPX-Survivac. Proceeds will also be used for other general corporate and
working capital purposes.

The transaction is subject to the receipt of all necessary regulatory and
stock exchange approvals.

The securities described herein have not been, and will not be, registered
under the United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or any state securities laws, and accordingly, may not be
offered or sold within the United States except in compliance with the
registration requirements of the U.S. Securities Act and applicable state
securities requirements or pursuant to exemptions therefrom. This press
release does not constitute an offer to sell or a solicitation to buy any
securities in any jurisdiction.

About Immunovaccine

Immunovaccine Inc. applies its novel adjuvanting platform to the development
of vaccines for cancer therapy, infectious diseases and animal health. The
Company's DepoVax(TM) platform is a patented formulation that provides
controlled and prolonged exposure of antigens plus adjuvant to the immune
system. Immunovaccine has advanced two DepoVax-based cancer vaccines into
Phase I human clinical trials. The Company is also advancing a broad
infectious disease pipeline including vaccines in such indications as malaria,
respiratory syncytial virus (RSV) and anthrax. In addition to the Company's
human health vaccine strategy, it continues to capture value from animal
health vaccine applications. Immunovaccine has key partnerships in the animal
health sector including an agreement with Pfizer Animal Health. Connect at

This press release contains forward-looking information under applicable
securities law. All information that addresses activities or developments that
we expect to occur in the future, including information regarding the
offering, is forward-looking information. Forward-looking statements are based
on the estimates and opinions of management on the date the statements are
made. However, they should not be regarded as a representation that any of the
plans will be achieved. Actual results may differ materially from those set
forth in this press release due to risks relating to the financing, and risks
affecting the company, including access to capital, the successful completion
of clinical trials and receipt of all regulatory approvals. Immunovaccine Inc.
assumes no responsibility to update forward-looking statements in this press
release except as required by law. 

Immunovaccine Inc.
Kimberly Stephens
(902) 492-1819

Vida Strategic Partners (media)
Tim Brons
(415) 675-7402

Vida Strategic Partners (investors)
Stephanie Diaz
(415) 675-7401

Brisco Capital Partners (Canadian investors)
Scott Koyich
(403) 262-9888


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.
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