Avivagen and Mimi’s Rock Announce Joint Venture for the Companion Animal Market

– State of the art e-commerce platform to offer exclusive products
for the pet market –

OTTAWA, Ontario & TORONTO–(BUSINESS WIRE)–Avivagen Inc. (TSXV:VIV) (“Avivagen” or the “Corporation”), owner of the
intellectual property protected OxC-beta™ technology that supports the
optimal health of companion animals, and Mimi’s Rock Corp. (TSXV:MIMI or
“Mimi’s Rock”), an online dietary supplement and wellness company
operating under the Dr. Tobias brand and with significant sales on the
Amazon.com platform, are pleased to announce a Joint Venture agreement
focused on the online sale of nutritional supplements for cats and dogs.
Under the terms of the agreement, Avivagen will supply its products that
include its proprietary OxC-beta™ technology and Mimi’s Rock will market
and sell the product through its state of the art e-commerce platform
and online global channels. This joint venture will be the exclusive
channel through which Avivagen sells nutritional supplements for cats
and dogs online. All sales will be conducted through a newly formed
corporation jointly owned by Avivagen and Mimi’s Rock. The profits will
be shared equally between the two companies.

Mimi’s Rock is an expert online marketer of brands for the human dietary
supplement and wellness market, with a proprietary e-commerce site,
significant sales via Amazon.com and other significant online channels
and partners coming on-stream. Under the Dr. Tobias brand, owned by
Mimi’s Rock, sales have grown at a compound annual rate of over 30%.
Dave Kohler, CEO of Mimi’s Rock commented, “We have engaged with our
customers, who care deeply about health and wellness and quality of
products, and believe that the next product opportunity to serve their
needs is in the growing companion animal market. We estimate that online
sales of products for pets is a US$10.5 billion per year market globally
and we believe that Avivagen’s OxC-beta™ technology will offer our
customers unique, rigorously tested and scientifically backed products
for the best care of their pets.”

Kym Anthony, CEO of Avivagen declared, “We believe that the deep
scientific backing and testing, along with patents that cover our
OxC-beta™ technology are ideally suited to make proprietary, exclusive
and powerful products to provide their pet parents and that Mimi’s Rock
has cracked the code of customer engagement and service to the next
level. We have examined multiple partnering opportunities and we are
both excited and delighted to be partnering with Mimi’s Rock, based on
their deep knowledge of online marketing, significant traction across
many products and a wonderful understanding of their customers’ needs.”

It is expected that a first product will be launched by the Joint
Venture in the first quarter of 2020. The two companies will report
further on the launch and progress in future public disclosures.

About Mimi’s Rock
Mimi’s Rock Corp. operates an online
dietary supplement and wellness company, with the primary brand being
delivered as Dr. Tobias. The brand features over 30 products including
the top selling colon cleansing product and the #1 selling Omega 3 Fish
Oil on Amazon.com. Mimi’s Rock currently serves customers in the United
States and has plans to expand into other markets. With an estimated
value of $133 Billion in 2016, the global dietary supplements market is
projected to accelerate at a rate of 9.6%, reaching over $278 Billion by
2024. The online market for pet products is estimated at US$10.5 billion.

About Avivagen
Avivagen is a life sciences corporation
focused on developing and commercializing products for livestock,
companion animal and human applications that, by safely supporting
immune function, promote general health and performance. It is a public
corporation 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.
The contents of the website are expressly not incorporated by reference
in this press release.

About OxC-beta™ Technology
Avivagen’s OxC-beta™ technology
is derived from Avivagen discoveries about carotenoids, compounds that
give certain fruits and vegetables their bright colours, and is a
non-antibiotic means of maintaining optimal health and growth.

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 businesses of Avivagen Inc.,
Mimi’s Rock Corp and the joint venture described above and the
environment in which those businesses operate. 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 regarding the plan
to sell product online through this joint venture, the potential for the
joint venture to produce profits and other benefits that will be shared
by Avivagen and Mimi’s Rock and the expected timing for product launch
are forward looking statements.
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, the products to be sold by the joint venture may not gain
market acceptance or regulatory approval where required, leading to
lower than expected profits and benefits and products may take longer to
bring to market than currently anticipated, in each case due to many
factors, many of which are outside of the control of the parties.
Except
as required by law, neither Avivagen nor Mimi’s Rock assumes any
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.

Copyright © 2019 Avivagen Inc. OxC-beta™ is a trademark of Avivagen Inc.

Contacts

Avivagen Inc.
Drew Basek
Director of Investor Relations
Phone:
416-540-0733
E-mail: d.basek@avivagen.com

Kym Anthony
Chief Executive Officer
Head Office Phone:
613-949-8164
Website: www.avivagen.com

Mimi’s Rock Corp.
Jackie Kelly
Investor Relations
Phone:
416-301-2949
E-mail: Jackie@adelaidecapital.ca

David Kohler
Chief Executive Officer
Phone: 905-330-5081
E-mail:
Dkohler@mimisrock.com

Head Office: 55 Village Centre Place, Mississauga, Ontario, Canada
Website:
www.mimisrock.com