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Avricore Health Announces $1.25 Million Financing

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Avricore Health (AVCR.V) announced Wednesday a non-brokered private placement of up to 25 million units at a price of $0.05 each for gross proceeds of $1.25 million.

Each unit consists of one common share and one half transferrable share purchase warrant, said the company and added that each warrant will entitle the holder to purchase one additional common share for a period of 24 months from the closing date of the offering at a price of $0.10 per common share.

Certain directors and officers are expected to participate in the private placement, added the company.

The proceeds will be used to expand the company's HealthTab network and for general working capital purposes.

Closing of the private placement is subject to acceptance by the TSX Venture Exchange.

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