The TSX Venture Exchange has accepted for filing the documentation relating to an arm's-length agreement dated July 10, 2014, pursuant to which Avivagen Inc. entered into an option to acquire an exclusive licence to a technology for the permanent sterilization of female mammals. The company's option expires on July 8, 2015. If the option is exercised, the company will receive a worldwide exclusive licence to the technology in consideration of 1,428,571 common shares and five million warrants to acquire five million common shares at an exercise price of 10 cents per share during a period of five years.

For further information, please refer to the company's press release dated July 10, 2014.