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Venaxis Announces Pricing of Offering of Common Stock and Warrants
Date:5/23/2013

CASTLE ROCK, Colo., May 23, 2013 /PRNewswire/ -- Venaxis, Inc. (Nasdaq:   APPY), an in vitro diagnostic company focused on obtaining FDA clearance and commercializing its rapid, protein biomarker-based appendicitis test, APPY1, today announced the pricing of an underwritten public offering of 10,000,000 shares of its common stock and related warrants to purchase 3,500,000 shares of its common stock at an exercise price of $1.36 per share at a combined public offering price of $1.25 per share and related warrant.  Venaxis has also granted the underwriter a 30-day option to purchase up to an additional 1,500,000 shares and related warrants to purchase up to an additional 525,000 shares of common stock to cover over-allotments, if any.  The shares of common stock and warrants are immediately separable and will be issued separately in the offering. The offering is expected to close on May 30, 2013, subject to customary closing conditions.  All of the shares and warrants in the offering are being sold by Venaxis.

Venaxis expects to receive net proceeds from the offering of approximately $11.1 million, after deducting estimated underwriting discounts and commissions and offering expenses. Venaxis intends to use the net proceeds from the offering primarily for general corporate purposes, including funding for further clinical development, seeking FDA clearance for APPY1, and for initial commercialization of APPY1 in the U.S. and the E.U. 

Piper Jaffray & Co. is acting as sole manager for the offering.

A registration statement relating to the securities being sold in this offering was declared effective by the Securities and Exchange Commission on May 23, 2013.  The offering is being made only by means of a prospectus.  A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website located at
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