Avivagen Inc (TSE:VIV) has released an update.
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Avivagen Inc., a life sciences company specializing in health and performance products for animals, has declared bankruptcy due to its inability to secure additional capital or a strategic transaction after a previously signed non-binding LOI with an international conglomerate fell through. The Ottawa-based company had sought to maximize value for stakeholders by exploring various strategic alternatives, but current market conditions have left it with no viable options, leading to a voluntary assignment into bankruptcy under Canada’s Bankruptcy and Insolvency Act.
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