Zivo Bioscience procures USD 1 mln finance for its new coccidiosis product

John Payne, Chairman, Chief Executive Officer, and President of Zivo Bioscience

Zivo Bioscience, Inc., a biotech/agtech R&D company engaged in the development of therapeutic, medicinal and nutritional product candidates derived from proprietary algal cultures, recently announced a $1 million unsecured six-month loan from its Chairman, Chief Executive Officer, and President, John Payne. The loan carries 10% simple interest, may be prepaid without penalty, is extendable for an additional six months and includes warrants to purchase 390,000 shares of ZIVO common stock with a strike price of $2.91 per share. More information on the loan and warrants is available in ZIVO’s Form 8-K filed recently with the SEC.

ZIVO Bioscience intends to use the proceeds from this bridge financing for working capital purposes, to fund a recently launched validation study with its product candidate for the prevention and treatment of coccidiosis in broiler chickens, and to pursue additional strategic alternatives.

“I am optimistic about the future of ZIVO Bioscience due to our talented team, our thoughtful business strategy and multiple near-term milestones. More specifically, I am confident in our novel immune-modulating product and believe the results we’ve produced to date demonstrate its efficacy in preventing coccidiosis in broiler chickens,” said Mr. Payne. “We have begun another study to further validate our coccidiosis product, including confirming titration levels, disease concentration and other environmental conditions. I look forward to the completion of this comprehensive study.”

“No one knows ZIVO better than Mr. Payne and we are grateful for his financial support as we work to fund the Company beyond the results of the current coccidiosis study and pursue a corporate partnership. John’s continued investment in ZIVO signals confidence in our business strategies, including our near-term biotech strategy with our product candidate for the treatment of coccidiosis in chickens, and our agtech plans focused on human nutrition,” added Keith Marchiando, Chief Financial Officer of ZIVO Bioscience.

ZIVO Bioscience has commenced the comprehensive study in broiler chickens and expects to complete work to affirm the protocol of its planned coccidiosis study, including titration analysis and dosing challenges, in May. Thereafter, ZIVO will commence the 42-day study in over 2,000 chickens, which is expected to conclude in mid-2023. The Company also continues to fund the scale up of production for its dried algal biomass for the human food industry.

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