Avivagen Inc. Announces the Granting of Options

OTTAWA, Dec. 22, 2017 (GLOBE NEWSWIRE) -- Avivagen Inc. (TSX-V:VIV) (OTC Pink:CHEXF) ("Avivagen" or the "Company"), a life sciences innovation company with a series of patent protected products that support and optimize human and animal health, announces the granting of 60,000 options to a corporation controlled by a director of the Company. These options are granted pursuant to a consulting agreement between the Company and such corporation.

The options, which shall be vested over an eight-quarter period, are exercisable up to five years from the issuing date, and have a strike price of $0.90.

Option grants are subject to the approval of the TSX Venture Exchange.

About Avivagen
Avivagen Inc. is a public Company traded on the TSX Venture Exchange under the symbol VIV and is headquartered in Ottawa, Canada, based in partnership facilities of the National Research Council of Canada and Charlottetown, Prince Edward Island. For more information, visit www.avivagen.com.

About OxC-betatm Technology and OxC-betatm Livestock
Avivagen's 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.

Avivagen's OxC-betatm Livestock product is safe, effective and could fulfill the global mandate to remove all in-feed antibiotics as growth promoters. Numerous international livestock trials with poultry and swine using OxC-betatm Livestock have proven that the product performs as well as, and, sometimes, in some aspects, better than in-feed antibiotics.

About Vivamunetm Health Chews (Vivamune)
Vivamune is an all-in-one chew that can dramatically simplify a pet's supplement routine. Featuring a newly-discovered, novel immune-supporting active ingredient: OxC-betatm compound, Vivamune targets joints, skin and digestive health all in a single, tasty chew a pet will love. Vivamune is available for sale in the United States. For more information, visit www.vivamunehealth.com.

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", "hope", "likely", "may", "plan", "possibly", "potentially", "pursue", "seem", "should", "whether", "will", "would" and similar expressions. Statements about OxC-beta's ability to replace antibiotics commonly added to livestock feeds or to fulfill the global mandate to remove in-feed antibiotics as growth promoters;  are forward looking statements. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. For instance, Avivagen's products may not the gain market acceptance or regulatory approvals necessary to fulfill the global mandate to remove in-feed antibiotics as growth promoters. Readers are referred to Avivagen's latest management's discussion and analysis available at www.SEDAR.com for a discussion of risks associated with its business.  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.

For more information:

Avivagen Inc.
Drew Basek
Director of Investor Relations
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6
Phone: 416-540-0733
E-mail: [email protected]

Kym Anthony
Chief Executive Officer
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6
Head Office Phone: 613-949-8164
Website: www.avivagen.com

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