Date Closed

September 16, 2010

Lead Office

Québec City

Value

7.40 Million CAD

On September 16, 2010,  Immunovaccine Inc. announced that it has closed its previously announced offering of 7,465,100 units of the Company at the price of C$1.00 per Unit for aggregate gross proceeds of C$7,465,100. Each Unit consists of one common share of Immunovaccine and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant entitles the holder to acquire one Common Share upon payment of the exercise price of C$1.30 per Warrant.

The Offering was led by Paradigm Capital Inc., on behalf of a syndicate of agents including Dundee Securities Corporation and Beacon Securities Limited (collectively, the “Agents”) with S.P. Angel Corporate Finance LLP and Bloom Burton & Co. Inc. being members of the selling group.

Immunovaccine, headquartered in Halifax, Nova Scotia, is a clinical stage vaccine development company.

McCarthy Tétrault LLP represented Immunovaccine, with a team led by Philippe Leclerc.