New Risk • Dec 05
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 45% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (45% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$557.8k market cap, or US$402.4k). Minor Risk Share price has been volatile over the past 3 months (19% average weekly change). Announcement • Dec 05
Vaxil Bio Ltd. announced that it has received CAD 0.14 million in funding On December 4, 2025, Vaxil Bio Ltd. closed the transaction. The company issued 1,244,441 units at a price CAD 0.1125 per Unit to raise gross proceeds of up to CAD 139,999.6125. Each warrant is exercisable, at any time prior to December 2, 2030. In accordance with applicable Canadian securities law, the securities issued pursuant to the Private Placement are subject to a four month and one day hold period expiring on April 3, 2026. The company compensated certain finders by payment of finders’ fees in the aggregate amount of CAD 11,200 and the issuance of an aggregate of 99,555 finders’ warrants. The finders’ warrants have identical terms to those of the warrants. Announcement • Dec 04
Vaxil Bio Ltd. Announces Board Changes Vaxil Bio Ltd. announces that Mr. Ari Kellen and Mr. Shawn Langer have resigned from the Company’s Board of Directors, effective immediately. Also effective immediately, the Company announces the appointment of Mr. Simon Igelman to the Company’s board. Mr. Igelman is a corporate transactional lawyer. His practice focuses on corporate finance and mergers and acquisitions, as well as providing advice on structured finance and capital markets mandates. Mr. Igelman has represented private and public companies on a variety of transactions, including private placements of equity and debt securities, securitizations in a variety of asset classes, public and private acquisitions and general corporate and commercial law matters. 
