Anavex Life Sciences Corp (AVXL)

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In consideration for entering into the Purchase Agreement, the Company issued to LPC 179,598 shares of common stock as a commitment fee and shall issue up to 89,799 shares pro rata, when and if, LPC purchases at the Company’s discretion the $50 Million aggregate commitment. The Purchase Agreement may be terminated by the Company at any time at its discretion without any cost to the Company. The proceeds received by the Company pursuant to the Financing are expected to be used to help advance human clinical trials of ANAVEX 2-73 and for general corporate purposes.