Immunovaccine Raises $4.2 Million in Private Placement

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES

Immunovaccine Inc. ("Immunovaccine" or "IMV") (TSX VENTURE:IMV), a clinical
stage vaccine and immunotherapy company, has closed the previously announced
private placement of its securities, raising gross proceeds of $4.2 million (the
"Private Placement"). Under terms of the financing, a total of 10,511,209 common
shares (the "Common Shares") of Immunovaccine were sold at a price of $0.40 per
Common Share.


Net proceeds from the Offering will be used for general corporate purposes.

"This successful offering places IMV in the strongest financial position it has
achieved in several years," said Albert Scardino, executive chairman of the
company. "We estimate that these funds, together with previously announced debt
financing secured from the Province of Nova Scotia, will provide sufficient cash
to carry the company into 2015."


Scardino said that the additional funding would help the company secure a
co-development partner for its DPX Survivac Phase II trial in ovarian cancer.
The trial will be sponsored and conducted by the National Cancer Institute of
Canada's Clinical Trials Group. 


"IMV has attracted the equivalent of $32 million this year from government
agencies and research institutions to support our scientific studies," Scardino
said. "Added to the total of nearly $6 million in equity funding and $5 million
in secured debt, the direction of the company is clear."


In connection with the Private Placement, Immunovaccine has agreed to pay
finders' fees representing an aggregate of $82,562 in cash along with 167,218
Common Shares and 63,000 compensation options, each compensation option
entitling its holder to purchase one Common Share at a price of $0.40 per share
until May 21, 2015. 


The securities issued in connection with the Private Placement are subject to a
four-month plus one day statutory hold period until March 22, 2014. 


The securities described herein have not been, and will not be, registered under
the United States Securities Act of 1933, as amended (the "U.S. Securities
Act"), or any state securities laws, and accordingly, may not be offered or sold
within the United States except in compliance with the registration requirements
of the U.S. Securities Act and applicable state securities requirements or
pursuant to exemptions therefrom. This press release does not constitute an
offer to sell or a solicitation to buy any securities in any jurisdiction.


About Immunovaccine

Immunovaccine Inc. applies its novel adjuvanting platform to the development of
vaccines for cancer therapy, infectious diseases and animal health. The
Company's DepoVax(TM) platform is a patented formulation that provides
controlled and prolonged exposure of antigens plus adjuvant to the immune
system. Immunovaccine has advanced two DepoVax-based cancer vaccines into Phase
I human clinical trials. The Company is also advancing a broad infectious
disease pipeline including vaccines in such indications as malaria, respiratory
syncytial virus (RSV) and anthrax. In addition to the Company's human health
vaccine strategy, it continues to capture value from animal health vaccine
applications. Immunovaccine has key partnerships in the animal health sector
including an agreement with Pfizer Animal Health. Connect at www.imvaccine.com.


This press release contains forward-looking information under applicable
securities law. All information that addresses activities or developments that
we expect to occur in the future, including information regarding the use of
proceeds of the financing, is forward-looking information. Forward-looking
statements are based on the estimates and opinions of management on the date the
statements are made. However, they should not be regarded as a representation
that any of the plans will be achieved. Actual results may differ materially
from those set forth in this press release due to risks affecting the company,
including access to capital, the successful completion of clinical trials and
receipt of all regulatory approvals. Immunovaccine Inc. assumes no
responsibility to update forward-looking statements in this press release except
as required by law. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Immunovaccine Inc.
Kimberly Stephens
(902) 492-1819
kstephens@imvaccine.com
www.imvaccine.com


Vida Strategic Partners (media)
Tim Brons
(415) 675-7402
tbrons@vidasp.com
(TSXV:IMV)
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