Document:

Filed by sedaredgar.com - Anavex Life Sciences Corp. - Exhibit 10.4

ANAVEX LIFE SCIENCES CORP. 
UNIT TERM SHEET

June 15, 2009

	Issuer: 	Anavex Life Sciences Corp. (the “Company”)
  
	  	(OTCBB: AVXL). 
	  	  
	Current Outstanding 	  
	Securities: 	20,071,568 shares issued. 
	  	  
	Offering: 	
      Reg “S” offering of Units of the Company to an
      aggregate of US$81,000. 

	  	
       

	Unit Description: 	
      Each Unit will consist of one common share in the capital
      of the Company (a “Share”) and one non-transferable share purchase warrant
      (a “Share Purchase Warrant). One Share Purchase Warrant shall entitle the
      holder thereof to purchase one common share in the capital of the Company
      (a “Warrant Share”), as presently constituted, at a price of US$4.00 per
      Warrant Share for a period of one (1) year commencing from the Closing
      Date (as defined hereafter). 

	  	
	Price per Unit: 	
      US$2.25 

	  	
	Closing: 	
      On or before April 30, 2009 

	  	
	Use of Proceeds: 	
      The proceeds from the sale of the units will be used to
      fund the Company’s current R&D program. Approximately 4.0 Million is
      allocated for the CNS program as follows: $1.5 million for Ongoing IND
      studies and initiation of Phase 1 trials for Anavex 2-73 (Alzheimer’s Q3),
      $1.5 million - initiation of IND for Anavex 19-144 (Epilepsy Q4), $1.0
      million for ongoing preclinical studies in Diabetes, Depression and Pain.
      Approximately $2.5 million is allocated for the Oncology program as
      follows: $2.0 million to enter Anavex 30-1022 in Phase 2a trials (Melanoma
      Q2, Prostate Q3), $.5 million for ongoing preclinical studies in cancer.
      Approximately $1 million is allocated for Corporate, General and
      Administrative expenses. 

ii

NONE OF THE SECURITIES TO WHICH THIS PRIVATE PLACEMENT
SUBSCRIPTION RELATES HAVE BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT
OF 1933, AS AMENDED (THE "1933 ACT"), OR ANY U.S. STATE SECURITIES LAWS, AND,
UNLESS SO REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE
UNITED STATES (AS DEFINED HEREIN) OR TO U.S. PERSONS EXCEPT IN ACCORDANCE WITH
THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION
FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE
1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES
LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE
CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT. "UNITED STATES" AND "U.S.
PERSON" ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.

PRIVATE PLACEMENT SUBSCRIPTION 
FOR NON U.S.
SUBSCRIBERS

ANAVEX LIFE SCIENCES
CORP.

INSTRUCTIONS TO SUBSCRIBER:

	1. 	
      COMPLETE the information on page 10 of this
      Subscription.

	 	 
	2. 	
      WIRE the Subscription Proceeds to Anavex Life
      Sciences Corp pursuant to the wire instructions provided on page ii of
      this Subscription, or deliver a $US bank draft.

	 	 
	3. 	
      FAX a copy of page 10 of this Subscription, and
      all pages of the applicable Schedules of this Subscription to Harvey
      Lalach, President Anavex Life Sciences Corp., at (250) 764-9701.

	 	 
	4. 	
      COURIER the originally executed copy of the entire
      Subscription, together with all duly signed Schedules, to Anavex Life
      Sciences Corp. to

Anavex Life Sciences Corp. 
101-4837 Canyon Ridge Crescent

Kelowna, BC Canada 
V1W 4A1

If you have any questions please
contact Harvey Lalach, President of the Company, at: (250) 864-2740.

iii

INSTRUCTIONS FOR WIRING FUNDS TO ANAVEX 

	HSBC BANK CANADA 
885 WEST GEORGIA STREET
      
VANCOUVER, BRITISH COLUMBIA 
CANADA V6C 3G1
      

ACCOUNT: ANAVEX LIFE SCIENCES CORP. 
SWIFT CODE:
      
ACCOUNT NO.: 

REFERENCE: FUNDS FOR PRIVATE
      
PLACEMENT 

NONE OF THE SECURITIES TO WHICH THIS PRIVATE PLACEMENT
SUBSCRIPTION RELATES HAVE BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT
OF 1933, AS AMENDED (THE "1933 ACT"), OR ANY U.S. STATE SECURITIES LAWS, AND,
UNLESS SO REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE
UNITED STATES (AS DEFINED HEREIN) OR TO U.S. PERSONS EXCEPT IN ACCORDANCE WITH
THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION
FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE
1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES
LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE
CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT. "UNITED STATES" AND "U.S.
PERSON" ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.

PRIVATE PLACEMENT SUBSCRIPTION
(Non U.S. Subscribers
Only)

	TO: 	ANAVEX LIFE SCIENCES CORP. (the
      "Company") 
		
      14, Rue Kleberg, Geneva
  Switzerland  

Purchase of Shares

1. Subscription

1.1 The undersigned (the "Subscriber") hereby irrevocably
subscribes for and agrees to purchase the number of units (the “Units”) of the
Company as set out on page 10 of this Subscription at a price of US$2.25 per
Unit (such subscription and agreement to purchase being the "Subscription"), for
the total subscription price as set out on page 10 of this Subscription (the
"Subscription Proceeds"), which Subscription Proceeds are tendered herewith, on
the basis of the representations and warranties and subject to the terms and
conditions set forth herein. 

1.2 Each Unit will consist of one common share in the capital
of the Company (a “Share”) and one non-transferable share purchase warrant (a
“Share Purchase Warrant”) subject to adjustment. One Share Purchase Warrant
shall entitle the holder thereof to purchase one common share in the capital of
the Company (a “Warrant Share”), as presently constituted, at a price of US$4.00
per Warrant Share for a period of one (1) year commencing from the Closing Date
(as defined hereafter). The Shares, Share Purchase Warrants and the Warrant
Shares are referred to as the “Securities”.

1.3 The Company hereby agrees to sell, on the basis of the
representations and warranties and subject to the terms and conditions set forth
herein, to the Subscriber the Shares. Subject to the terms hereof, the
Subscription will be effective upon its acceptance by the Company.

1.4 Unless otherwise provided, all dollar amounts referred to
in this Subscription are in lawful money of the United States of America.

2. Payment

2.1 The Subscription Proceeds must accompany this Subscription
and shall be wired directly to the Company's account in accordance with the wire
instructions set out on page ii of this Subscription. Where the Subscription
Proceeds are paid to the Company, the Company may treat the Subscription
Proceeds as a non-interest bearing loan and may use the Subscription Proceeds
prior to this subscription being accepted by the Company.

- 2 -

2.2 The Subscriber shall complete, sign and return to the
Company as soon as possible, on request by the Company, any documents,
questionnaires, notices and undertakings as may be required by regulatory
authorities, the OTC Bulletin Board, stock exchanges and applicable law.

2.3 The Subscriber acknowledges that the Company may pay
finders’ fees to finders in connection with this placement on terms negotiated
and approved by the Company. 

3. Closing

3.1 Closing of the purchase and sale of the Shares shall occur
on or before June 15, 2009, or on such other date as may be determined by the
Company in its sole discretion (the "Closing Date"). The Subscriber acknowledges
that Shares may be issued to other subscribers under this offering (the
"Offering") before or after the Closing Date (the last sale of Shares under this
Offering being referred to as the "Final Closing Date").

4. Acknowledgements of Subscriber

4.1 The Subscriber acknowledges and agrees that:

	 	(a) 	
      the Securities have not been registered under the
      Securities Act of 1933, as amended (the "1933 Act"), or under any state
      securities or "blue sky" laws of any state of the United States, and are
      being offered only in a transaction not involving any public offering
      within the meaning of the 1933 Act, and, unless so registered, may not be
      offered or sold in the United States or to U.S. Persons (as defined
      herein), except pursuant to an effective registration statement under the
      1933 Act, or pursuant to an exemption from, or in a transaction not
      subject to, the registration requirements of the 1933 Act, and in each
      case only in accordance with applicable state securities laws;

	 	 	 
	 	(b) 	
      the Company will refuse to register any transfer of the
      Shares not made in accordance with the provisions of Regulation S,
      pursuant to an effective registration statement under the 1933 Act or
      pursuant to an available exemption from, or in a transaction not subject
      to, the registration requirements of the 1933 Act;

	 	 	 
	 	(c) 	
      the decision to execute this Subscription and purchase
      the Units agreed to be purchased hereunder has not been based upon any
      oral or written representation as to fact or otherwise made by or on
      behalf of the Company and such decision is based solely upon a review of
      publicly available information regarding the Company available on the
      website of the United States Securities and Exchange Commission (the
      "SEC") available at www.sec.gov (the "Company Information");

	 	 	 
	 	(d) 	
      the Subscriber and the Subscriber's advisor(s) have had a
      reasonable opportunity to review the Company Information and to ask
      questions of and receive answers from the Company regarding the Offering,
      and to obtain additional information, to the extent possessed or
      obtainable without unreasonable effort or expense, necessary to verify the
      accuracy of the information contained in the Company Information, or any
      other document provided to the Subscriber;

	 	 	 
	 	(e) 	
      the books and records of the Company were available upon
      reasonable notice for inspection, subject to certain confidentiality
      restrictions, by the Subscriber during reasonable business hours at its
      principal place of business and that all documents, records and books
      pertaining to this Offering have been made available for inspection by the
      Subscriber, the Subscriber's attorney and/or advisor(s);

	 	 	 
	 	(f) 	
      by execution hereof the Subscriber has waived the need
      for the Company to communicate its acceptance of the purchase of the Units
      pursuant to this Subscription;

- 3 -

	 	(g) 	
      the Company is entitled to rely on the representations
      and warranties and the statements and answers of the Subscriber contained
      in this Subscription and the Subscriber will hold harmless the Company
      from any loss or damage it may suffer as a result of the Subscriber's
      failure to correctly complete this Subscription;

	 	 	 
	 	(h) 	
      the Subscriber will indemnify and hold harmless the
      Company and, where applicable, its respective directors, officers,
      employees, agents, advisors and shareholders from and against any and all
      loss, liability, claim, damage and expense whatsoever (including, but not
      limited to, any and all fees, costs and expenses whatsoever reasonably
      incurred in investigating, preparing or defending against any claim,
      lawsuit, administrative proceeding or investigation whether commenced or
      threatened) arising out of or based upon any acknowledgment,
      representation or warranty of the Subscriber contained herein or in any
      other document furnished by the Subscriber to the Company in connection
      herewith, being untrue in any material respect or any breach or failure by
      the Subscriber to comply with any covenant or agreement made by the
      Subscriber to the Company in connection therewith;

	 	 	 
	 	(i) 	
      the issuance and sale of the Units to the Subscriber will
      not be completed if it would be unlawful or if, in the discretion of the
      Company acting reasonably, it is not in the best interests of the
      Company;

	 	 	 
	 	(j) 	
      the Subscriber has not acquired the Units as a result of,
      and will not itself engage in, any "directed selling efforts" (as defined
      in Regulation S under the 1933 Act) in the United States in respect of any
      of the Shares which would include any activities undertaken for the
      purpose of, or that could reasonably be expected to have the effect of,
      conditioning the market in the United States for the resale of any of the
      Shares; provided, however, that the Subscriber may sell or otherwise
      dispose of any of the Shares pursuant to registration of any of the Shares
      pursuant to the 1933 Act and any applicable state securities laws or under
      an exemption from such registration requirements and as otherwise provided
      herein;

	 	 	 
	 	(k) 	
      the Subscriber is outside the United States when
      receiving and executing this Subscription and is acquiring the Units as
      principal for its own account, for investment purposes only, and not with
      a view to, or for, resale, distribution or fractionalization thereof, in
      whole or in part, and no other person has a direct or indirect beneficial
      interest in such Shares;

	 	 	 
	 	(l) 	
      none of the Shares may be offered or sold to a U.S.
      Person or for the account or benefit of a U.S. Person (other than a
      distributor) prior to the end of the expiration of a period of one year
      after the date of original issuance of the Shares;

	 	 	 
	 	(m) 	
      the statutory and regulatory basis for the exemption
      claimed for the offer and sale of the Shares, although in technical
      compliance with Regulation S, would not be available if the offering is
      part of a plan or scheme to evade the registration provisions of the 1933
      Act;

	 	 	 
	 	(n) 	
      the Subscriber has been advised to consult its own legal,
      tax and other advisors with respect to the merits and risks of an
      investment in the Units and with respect to applicable resale restrictions
      and it is solely responsible (and the Company is in any way responsible)
      for compliance with applicable resale restrictions;

	 	 	 
	 	(o) 	
      the Shares are not listed on any stock exchange or
      automated dealer quotation system and no representation has been made to
      the Subscriber that any of the Shares will become listed on any stock
      exchange or automated dealer quotation system, except that currently
      certain market makers make market in the shares of the Company's common
      stock on the OTC Bulletin Board;

	 	 	 
	 	(p) 	
      neither the SEC nor any other securities commission or
      similar regulatory authority has reviewed or passed on the merits of the
      Shares;

- 4 -

	 	(q) 	
      no documents in connection with this Offering have been
      reviewed by the SEC or any state securities administrators;

	 	 	 
	 	(r) 	
      there is no government or other insurance covering any of
      the Shares; and

	 	 	 
	 	(s) 	
      this Subscription is not enforceable by the Subscriber
      unless it has been accepted by the Company, and the Subscriber
      acknowledges and agrees that the Company reserves the right to reject any
      Subscription for any reason.

5. Representations, Warranties and Covenants of
the Subscriber

5.1 The Subscriber hereby represents and warrants to and
covenants with the Company (which representations, warranties and covenants
shall survive the Closing Date) that:

	 	(a) 	
      the Subscriber is not a U.S. Person;

	 	 	 	 	 
	 	(b) 	
      the Subscriber is not acquiring the Units for the account
      or benefit of, directly or indirectly, any U.S. Person;

	 	 	 	 	 
	 	(c) 	
      the Subscriber is resident in the jurisdiction set out on
      page 10 of this Subscription;

	 	 	 	 	 
	 	(d) 	
      the issuance of the Units to the Subscriber as
      contemplated by the delivery of this Agreement, the acceptance of it by
      the Company and the issuance of the Units to the Subscriber complies with
      all applicable laws of the Subscriber's jurisdiction of residence or
      domicile and will not cause the Company to become subject to or comply
      with any disclosure, prospectus or reporting requirements under any such
      applicable laws;

	 	 	 	 	 
	 	(e) 	
      the Subscriber:

	 	 	 	 	 
	 		(i) 	
      is knowledgeable of, or has been independently advised as
      to, the applicable securities laws of the securities regulators having
      application in the jurisdiction in which the Subscriber is resident (the
      “International Jurisdiction”) which would apply to the acquisition of the
      Units,

	 	 	 	 	 
	 		(ii) 	
      is purchasing the Units pursuant to exemptions from
      prospectus or equivalent requirements under applicable securities laws or,
      if such is not applicable, the Subscriber is permitted to purchase the
      Shares under the applicable securities laws of the securities regulators
      in the International Jurisdiction without the need to rely on any
      exemptions,

	 	 	 	 	 
	 		(iii) 	
      acknowledges that the applicable securities laws of the
      authorities in the International Jurisdiction do not require the Company
      to make any filings or seek any approvals of any kind whatsoever from any
      securities regulator of any kind whatsoever in the International
      Jurisdiction in connection with the issue and sale or resale of the
      Shares, and

	 	 	 	 	 
	 		(iv) 	
      represents and warrants that the acquisition of the Units
      by the Subscriber does not trigger:

	 	 	 	 	 
	 			A. 	
      any obligation to prepare and file a prospectus or
      similar document, or any other report with respect to such purchase in the
      International Jurisdiction, or

	 	 	 	 	 
	 			B. 	
      any continuous disclosure reporting obligation of the
      Company in the International Jurisdiction, and

- 5 -

the Subscriber will, if requested by
the Company, deliver to the Company a certificate or opinion of local counsel
from the International Jurisdiction which will confirm the matters referred to
in subparagraphs (ii), (iii) and (iv) above to the satisfaction of the Company,
acting reasonably;

	 	(f) 	
      the Subscriber is acquiring the Units as principal for
      investment only and not with a view to, or for, resale, distribution or
      fractionalization thereof, in whole or in part, and, in particular, it has
      no intention to distribute either directly or indirectly any of the Shares
      in the United States or to U.S. Persons;

	 	 	 
	 	(g) 	
      the Subscriber is outside the United States when
      receiving and executing this Subscription;

	 	 	 
	 	(h) 	
      the Subscriber has received and carefully read this
      Subscription;

	 	 	 
	 	(i) 	
      the Subscriber understands and agrees not to engage in
      any hedging transactions involving any of the Shares unless such
      transactions are in compliance with the provisions of the 1933 Act and in
      each case only in accordance with applicable state securities
  laws;

	 	 	 
	 	(j) 	
      the Subscriber acknowledges that it has not acquired the
      Units as a result of, and will not itself engage in, any "directed selling
      efforts" (as defined in Regulation S under the 1933 Act) in the United
      States in respect of any of the Shares which would include any activities
      undertaken for the purpose of, or that could reasonably be expected to
      have the effect of, conditioning the market in the United States for the
      resale of any of the Shares; provided, however, that the Subscriber may
      sell or otherwise dispose of any of the Shares pursuant to registration of
      any of the Shares pursuant to the 1933 Act and any applicable state
      securities laws or under an exemption from such registration requirements
      and as otherwise provided herein;

	 	 	 
	 	(k) 	
      the Subscriber has the legal capacity and competence to
      enter into and execute this Subscription and to take all actions required
      pursuant hereto and, if the Subscriber is a corporation, it is duly
      incorporated and validly subsisting under the laws of its jurisdiction of
      incorporation and all necessary approvals by its directors, shareholders
      and others have been obtained to authorize execution and performance of
      this Subscription on behalf of the Subscriber;

	 	 	 
	 	(l) 	
      the Subscriber (i) has adequate net worth and means of
      providing for its current financial needs and possible personal
      contingencies, (ii) has no need for liquidity in this investment, and
      (iii) is able to bear the economic risks of an investment in the Shares
      for an indefinite period of time, and can afford the complete loss of such
      investment;

	 	 	 
	 	(m) 	
      the Subscriber understands and agrees that the Company
      and others will rely upon the truth and accuracy of the acknowledgements,
      representations, warranties, covenants and agreements contained in this
      Subscription and agrees that if any of such acknowledgements,
      representations and agreements are no longer accurate or have been
      breached, the Subscriber shall promptly notify the Company;

	 	 	 
	 	(n) 	
      the Subscriber is aware that an investment in the Company
      is speculative and involves certain risks, including the possible loss of
      the investment;

	 	 	 
	 	(o) 	
      the entering into of this Subscription and the
      transactions contemplated hereby do not result in the violation of any of
      the terms and provisions of any law applicable to, or, if applicable, the
      constating documents of, the Subscriber, or of any agreement, written or
      oral, to which the Subscriber may be a party or by which the Subscriber is
      or may be bound;

	 	 	 
	 	(p) 	
      the Subscriber has duly executed and delivered this
      Subscription and it constitutes a valid and binding agreement of the
      Subscriber enforceable against the Subscriber;

- 6 -

	 	(q) 	
      the Subscriber understands and agrees that the Company
      and others will rely upon the truth and accuracy of the acknowledgements,
      representations and agreements contained in this Subscription, and agrees
      that if any of such acknowledgements, representations and agreements are
      no longer accurate or have been breached, the Subscriber shall promptly
      notify the Company;

	 	 	 	 
	 	(r) 	
      all information contained in this Subscription is
      complete and accurate and may be relied upon by the Company, and the
      Subscriber will notify the Company immediately of any material change in
      any such information occurring prior to the Closing Date;

	 	 	 	 
	 	(s) 	
      the Subscriber is purchasing the Units for its own
      account for investment purposes only and not for the account of any other
      person and not for distribution, assignment or resale to others, and no
      other person has a direct or indirect beneficial interest is such Shares,
      and the Subscriber has not subdivided his interest in the Shares with any
      other person;

	 	 	 	 
	 	(t) 	
      the Subscriber is not an underwriter of, or dealer in,
      the shares of the Company's common stock, nor is the Subscriber
      participating, pursuant to a contractual agreement or otherwise, in the
      distribution of the Shares;

	 	 	 	 
	 	(u) 	
      the Subscriber has made an independent examination and
      investigation of an investment in the Shares and the Company and has
      depended on the advice of its legal and financial advisors and agrees that
      the Company will not be responsible in anyway whatsoever for the
      Subscriber's decision to invest in the Shares and the Company;

	 	 	 	 
	 	(v) 	
      if the Subscriber is acquiring the Units as a fiduciary
      or agent for one or more investor accounts, the Subscriber has sole
      investment discretion with respect to each such account, and the
      Subscriber has full power to make the foregoing acknowledgements,
      representations and agreements on behalf of such account;

	 	 	 	 
	 	(w) 	
      the Subscriber is not aware of any advertisement of any
      of the Units and is not acquiring the Units as a result of any form of
      general solicitation or general advertising including advertisements,
      articles, notices or other communications published in any newspaper,
      magazine or similar media or broadcast over radio or television, or any
      seminar or meeting whose attendees have been invited by general
      solicitation or general advertising; and

	 	 	 	 
	 	(x) 	
      no person has made to the Subscriber any written or oral
      representations:

	 	 	 	 
	 		(i) 	
      that any person will resell or repurchase any of the
      Shares,

	 	 	 	 
	 		(ii) 	
      that any person will refund the purchase price of any of
      the Shares,

	 	 	 	 
	 		(iii) 	
      as to the future price or value of any of the Shares,
      or

	 	 	 	 
	 		(iv) 	
      that any of the Shares will be listed and posted for
      trading on any stock exchange or automated dealer quotation system or that
      application has been made to list and post any of the Shares of the
      Company on any stock exchange or automated dealer quotation system, except
      that currently certain market makers make market in the shares of the
      Company's common stock on the OTC Bulletin Board.

5.2 In this Subscription, the term "U.S. Person" shall have the
meaning ascribed thereto in Regulation S promulgated under the 1933 Act and for
the purpose of the Subscription includes any person in the United States.

- 7 -

6. Acknowledgement and Waiver

6.1 The Subscriber has acknowledged that the decision to
purchase the Units was solely made on the Company Information. The Subscriber
hereby waives, to the fullest extent permitted by law, any rights of withdrawal,
rescission or compensation for damages to which the Subscriber might be entitled
in connection with the distribution of any of the Shares.

7. Representations and Warranties will be Relied
Upon by the Company

7.1 The Subscriber acknowledges that the acknowledgements,
representations and warranties contained herein are made by it with the
intention that they may be relied upon by the Company and its legal counsel in
determining the Subscriber's eligibility to purchase the Units under applicable
securities legislation, or (if applicable) the eligibility of others on whose
behalf it is contracting hereunder to purchase the Shares under applicable
securities legislation. The Subscriber further agrees that by accepting delivery
of the certificates representing the Shares, it will be representing and
warranting that the acknowledgements representations and warranties contained
herein are true and correct as of the date hereof and will continue in full
force and effect notwithstanding any subsequent disposition by the Subscriber of
such Shares.

8. Resale Restrictions

8.1 The Subscriber acknowledges that any resale of the Shares
will be subject to resale restrictions contained in the securities legislation
applicable to the Subscriber or proposed transferee. The Subscriber acknowledges
that the Shares have not been registered under the 1933 Act or the securities
laws of any state of the United States. The Shares may not be offered or sold in
the United States unless registered in accordance with federal securities laws
and all applicable state securities laws or exemptions from such registration
requirements are available.

9. Legending and Registration of Subject
Shares

9.1 The Subscriber hereby acknowledges that upon the issuance
thereof, and until such time as the same is no longer required under the
applicable securities laws and regulations, the certificates representing any of
the Shares will bear a legend in substantially the following form:

  THE SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN
    OFFSHORE TRANSACTION TO A PERSON WHO IS NOT A U.S. PERSON (AS DEFINED HEREIN)
    PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
    AMENDED (THE "1933 ACT").

  NONE OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED
    UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED,
    MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES (AS
    DEFINED HEREIN) OR TO U.S. PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS
    OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION
    STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM,
    OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933
    ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.
    IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED
    UNLESS IN COMPLIANCE WITH THE 1933 ACT. "UNITED STATES" AND "U.S. PERSON"
    ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.

- 8 -

9.2 The Subscriber hereby acknowledges and agrees to the
Company making a notation on its records or giving instructions to the registrar
and transfer agent of the Company in order to implement the restrictions on
transfer set forth and described in this Subscription.

10. Costs

10.1 The Subscriber acknowledges and agrees that all costs and
expenses incurred by the Subscriber (including any fees and disbursements of any
special counsel retained by the Subscriber) relating to the purchase of the
Units shall be borne by the Subscriber.

11. Governing Law

11.1 This Subscription is governed by the laws of the State of
Nevada and the federal laws of the United States applicable thereto. The
Subscriber, in its personal or corporate capacity and, if applicable, on behalf
of each beneficial purchaser for whom it is acting, irrevocably attorns to the
exclusive jurisdiction of the Courts of the State of Nevada.

12. Survival

12.1 This Subscription, including without limitation the
representations, warranties and covenants contained herein, shall survive and
continue in full force and effect and be binding upon the parties hereto
notwithstanding the completion of the purchase of the Shares by the Subscriber
pursuant hereto.

13. Assignment

13.1 This Subscription is not transferable or assignable.

14. Severability

14.1 The invalidity or unenforceability of any particular
provision of this Subscription shall not affect or limit the validity or
enforceability of the remaining provisions of this Subscription.

15. Entire Agreement

15.1 Except as expressly provided in this Subscription and in
the agreements, instruments and other documents contemplated or provided for
herein, this Subscription contains the entire agreement between the parties with
respect to the sale of the Shares and there are no other terms, conditions,
representations or warranties, whether expressed, implied, oral or written, by
statute or common law, by the Company or by anyone else.

16. Notices

16.1 All notices and other communications hereunder shall be in
writing and shall be deemed to have been duly given if mailed or transmitted by
any standard form of telecommunication. Notices to the Subscriber shall be
directed to the address on page 10 and notices to the Company shall be directed
to it at the first page of this Subscription.

17. Counterparts and Electronic Means

17.1 This Subscription may be executed in any number of
counterparts, each of which, when so executed and delivered, shall constitute an
original and all of which together shall constitute one instrument. Delivery of
an executed copy of this Subscription by electronic facsimile transmission or
other means of electronic communication capable of producing a printed copy will
be deemed to be execution and delivery of this Subscription as of the date
hereinafter set forth.

- 9 -

IN WITNESS WHEREOF the Subscriber has duly executed this
Subscription as of the date hereinafter set forth.

DELIVERY AND REGISTRATION INSTRUCTIONS

	1. 	
      Delivery - please deliver the Share certificates
    to:

	 	 
	 	 
	 	 
	 	 
	2. 	
      Registration - registration of the certificates which are
      to be delivered at closing should be made as follows (if different from
      above):

	 	 
		
      (name)

	 	 
		
      (address)

	 	 
	3. 	
      The undersigned hereby acknowledges that he or she will
      deliver to the Company all such additional completed forms in respect of
      the Subscriber's purchase of the Shares as may be required for filing with
      the appropriate securities commissions and regulatory
  authorities.

	 	 
	 	(Name of Subscriber – Please type or print)
  
	 	 
	 	(Signature and, if applicable, Officer title)
    
	 	 
	 	(Address of Subscriber) 
	 	 
	 	(City, State, and Zip Code of Subscriber)

	 	 
	 	(Country of Subscriber) 
	 	 
	 	(Fax Number and email address) 
	 	 
	 	(Number of Units to be Purchased) 
	 	 
	 	(Total Subscription Price)

- 10 -

A C C E P T A N C E

The above-mentioned Subscription in respect of the Units is
hereby accepted by ANAVEX LIFE SCIENCES CORP.

DATED at ______________________________, the _____day of
__________________, 200_.

ANAVEX LIFE SCIENCES CORP.

	Per: 		 
	 	Authorized SignatoryFiled by sedaredgar.com - Anavex Life Sciences Corp. - Exhibit 10.5

THIS SHARES FOR SERVICE AND SUBSCRIPTION AGREEMENT RELATES
TO AN OFFERING OF SECURITIES IN AN OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT
U.S. PERSONS (AS DEFINED HEREIN) PURSUANT TO REGULATION S UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"). 

NONE OF THE SECURITIES TO WHICH THIS SHARES FOR SERVICE AND
SUBSCRIPTION AGREEMENT RELATES HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY
U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR
SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR TO U.S. PERSONS (AS
DEFINED IN REGULATION S OF THE 1933 ACT) EXCEPT IN ACCORDANCE WITH THE
PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION
FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE
1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES
LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE
CONDUCTED UNLESS IN ACCORDANCE WITH THE 1933 ACT.

SHARES FOR SERVICE AND SUBSCRIPTION AGREEMENT

     This SHARES FOR SERVICE AND
SUBSCRIPTION AGREEMENT (the “Agreement”) is made as of June 10, 2009, by and
between Anavex Life Sciences Corp. (the “Company”), and ANDREAS ELEUTHARIADIS
(“Eleuthariadis”) whose address is 24 M. Kotopouli St. 15773 Zografou Athens,
Greece.

RECITALS

WHEREAS:

A. Eleuthariadis is a consultant of the Company, and, in
consideration for his services and bonuses earned, the Company has agreed to pay
Eleuthariadis $3,555 dollars or a number of shares of its common stock of
equivalent value, valued at $2.25 per share.

NOW, THEREFORE, the parties hereto
agree as follows:

1. Issuance of the Shares

1.1 In consideration for the Services provided to the Company
under the Service Agreement, the Company hereby agrees to grant to Eleuthariadis
and Eleuthariadis hereby irrevocably subscribes for and agrees to purchase
shares of the Company's common stock (the "Shares"), in full and final payment
of the amount owed to Eleuthariadis by the Company for services rendered, one
thousand five hundred and eighty (1,580) shares of the Company’s common stock
(the “Shares”).

1.2 The Company agrees to issue to Eleuthariadis a certificate
representing the Shares as soon as practicable following delivery by
Eleuthariadis to the Company of a fully-executed copy of this Agreement.

2. Acknowledgements of Elefthariadis

2.1 Eleuthariadis acknowledges and agrees that:

(a) none of the Shares have been
registered under the 1933 Act, or under any state securities or “blue sky” laws
of any state of the United States, and, unless so registered, may not be offered
or sold in the United States or, directly or indirectly, to U.S. Persons, as
that term is defined in Regulation S under the 1933 Act (“Regulation S”), except
in accordance with the provisions of Regulation S, pursuant to an effective
registration statement under the 1933 Act, or pursuant to an exemption from, or
in a transaction not subject to, the registration requirements of the 1933
Act;

(c) the Company has not undertaken, and
will have no obligation, to register any of the Shares under the 1933 Act;

2

(d) the decision to execute this
Agreement and acquire the Shares hereunder has not been based upon any oral or
written representation as to fact or otherwise made by or on behalf of the
Company, and such decision is based entirely upon a review of information (the
receipt of which is hereby acknowledged) which has been filed by the Company
with the United States Securities and Exchange Commission and in compliance, or
intended compliance, with applicable securities legislation (collectively, the
“Public Record”);

(e) no securities commission or similar
regulatory authority has reviewed or passed on the merits of the Shares;

(f) there is no government or other
insurance covering the Shares;

(g) Eleuthariadis and its advisor(s)
have had a reasonable opportunity to ask questions of and receive answers from
the Company in connection with the distribution of the Shares hereunder, and to
obtain additional information, to the extent possessed or obtainable without
unreasonable effort or expense, necessary to verify the accuracy of the
information about the Company;

(h) the books and records of the
Company were available upon reasonable notice for inspection, subject to certain
confidentiality restrictions, by Eleuthariadis during reasonable business hours
at its principal place of business, and all documents, records and books in
connection with the distribution of the Shares hereunder have been made
available for inspection by Eleuthariadis, its attorney and/or advisor(s);

(i) the Company is entitled to rely on
the representations, warranties, statements and answers of Eleuthariadis
contained in this Agreement;

(j) Eleuthariadis will indemnify and
hold harmless the Company and, where applicable, its directors, officers,
employees, agents, advisors and shareholders, from and against any and all loss,
liability, claim, damage and expense whatsoever (including, but not limited to,
any and all fees, costs and expenses whatsoever reasonably incurred in
investigating, preparing or defending against any claim, lawsuit, administrative
proceeding or investigation whether commenced or threatened) arising out of or
based upon any representation or warranty of Eleuthariadis contained herein or
in any document furnished by Eleuthariadis to the Company in connection herewith
being untrue in any material respect or any breach or failure by Eleuthariadis
to comply with any covenant or agreement made by Eleuthariadis to the Company in
connection therewith;

(k) none of the Shares are listed on
any stock exchange or automated dealer quotation system and no representation
has been made to Eleuthariadis that any of the Shares will become listed on any
stock exchange or automated dealer quotation system; except that currently the
common shares of the Company are quoted for trading on the OTC Bulletin
Board;

(l) offers and sales of any of the
Shares shall be made only in compliance with the registration provisions of the
1933 Act or an exemption therefrom;

(m) the Company will refuse to register
any transfer of the Shares not made in accordance with the provisions of
Regulation S, pursuant to an effective registration statement under the 1933 Act
or pursuant to an available exemption from the registration requirements of the
1933 Act; and,

(n) Eleuthariadis has been advised to
consult its own legal, tax and other advisors with respect to the merits and
risks of an investment in the Shares and with respect to applicable resale
restrictions, and it is solely responsible (and the Company is not in any way
responsible) for compliance with:

	 	(i) 	
      any applicable laws of the jurisdiction in which
      Eleuthariadis is resident in connection with the distribution of the
      Shares hereunder; and

	 	 	 
	 	(ii) 	
      applicable resale
restrictions.

3

3.1 Representations, Warranties and Covenants of
Elefthariadis

     Eleuthariadis hereby represents
and warrants to and covenants with the Company (which representations,
warranties and covenants shall survive the closing) that:

(a) it is not resident in the United
States;

(b) it has received and carefully read
this Agreement;

(c) it is duly incorporated and validly
subsisting under the laws of its jurisdiction of incorporation and all necessary
approvals by its directors, shareholders and others have been obtained to
authorize execution and performance of this Agreement on behalf of
Eleuthariadis;

(d) it has the legal capacity and
competence to enter into and execute this Agreement and to take all actions
required pursuant hereto;

(e) it has duly executed and delivered
this Agreement and this Agreement constitutes a valid and binding agreement of
Elefthariadis enforceable against Eleuthariadis;

(f) the entering into of this Agreement
and the transactions contemplated hereby do not result in the violation of any
of the terms and provisions of any law applicable to, or, if applicable, the
constating documents of, Eleuthariadis, or of any agreement, written or oral, to
which Eleuthariadis may be a party or by which Eleuthariadis is or may be
bound;

(g) Eleuthariadis (i) has adequate net
worth and means of providing for its current financial needs and possible
personal contingencies, (ii) has no need for liquidity in this investment, and
(iii) is able to bear the economic risks of an investment in the Shares for an
indefinite period of time, and can afford the complete loss of such
investment;

(h) Eleuthariadis is aware that an
investment in the Company is speculative and involves certain risks, including
the possible loss of the investment, and Eleuthariadis has carefully read and
considered the matters set forth under the caption “Risk Factors” appearing in
the Company’s most recent quarterly report on Form 10-QSB filed with the
SEC;

(i) it has the requisite knowledge and
experience in financial and business matters as to be capable of evaluating the
merits and risks of the investment in the Shares and the Company;

(j) it understands and agrees that the
Company and others will rely upon the truth and accuracy of the
acknowledgements, representations and agreements contained in this Agreement,
and agrees that if any of such acknowledgements, representations and agreements
are no longer accurate or have been breached, it shall promptly notify the
Company;

(k) the acknowledgements,
representations and agreements contained in this Agreement are complete and
accurate and may be relied upon by the Company, and Eleuthariadis will notify
the Company immediately of any material change in any such information occurring
prior to the closing of the acquisition of the Shares;

(l) it is purchasing the Shares for its
own account for investment purposes only and not for the account of any other
person and not for distribution, assignment or resale to others, and no other
person has a direct or indirect beneficial interest in such Shares, and it has
not subdivided its interest in the Shares with any other person;

(m) it is not an underwriter of, or
dealer in, the common shares of the Company, nor is it participating, pursuant
to a contractual agreement or otherwise, in the distribution of the Shares;

(n) it has made an independent
examination and investigation of an investment in the Shares and the Company and
has depended on the advice of its legal and financial advisors and agrees that
the Company will not be responsible in anyway whatsoever for its decision to
invest in the Shares and the Company;

4

(o) it is not aware of any
advertisement of any of the Shares and is not acquiring the Shares as a result
of any form of general solicitation or general advertising including
advertisements, articles, notices or other communications published in any
newspaper, magazine or similar media or broadcast over radio or television, or
any seminar or meeting whose attendees have been invited by general solicitation
or general advertising; and,

(p) no person has made to Eleuthariadis
any written or oral representations:

	 	(i) 	
      that any person will resell or repurchase any of the
      Shares;

	 	 	 
	 	(ii) 	
      that any person will refund the purchase price of any of
      the Shares; or,

	 	 	 
	 	(iii) 	
      as to the future price or value of any of the
    Shares.

3.2 In this Agreement, the term “U.S. Person” shall have the
meaning ascribed thereto in Regulation S and for the purpose of the Agreement
includes any person in the United States.

4. Acknowledgement and Waiver

4.1 Elefthariadis has acknowledged that the decision to
purchase the Shares was solely made on the basis of publicly available
information contained in the Public Record. Eleuthariadis hereby waives, to the
fullest extent permitted by law, any rights of withdrawal, rescission or
compensation for damages to which Eleuthariadis might be entitled in connection
with the distribution of any of the Shares.

5. Legending of Subject Shares

5.1 Eleuthariadis hereby acknowledges that that upon the
issuance thereof, and until such time as the same is no longer required under
the applicable securities laws and regulations, the certificates representing
any of the Shares will bear legends in substantially the following forms:

  THESE SECURITIES WERE ISSUED IN AN OFFSHORE TRANSACTION
    TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED HEREIN) PURSUANT TO REGULATION
    S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT").
    ACCORDINGLY, NONE OF THESE SECURITIES HAVE BEEN REGISTERED UNDER THE 1933
    ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE MAY
    BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR TO U.S.
    PERSONS (AS DEFINED IN REGULATION S OF THE 1933 ACT) EXCEPT IN ACCORDANCE
    WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE
    REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION
    FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF
    THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES
    LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE
    CONDUCTED UNLESS IN ACCORDANCE WITH THE 1933 ACT.

5.2 Eleuthariadis hereby acknowledges and agrees to the Company
making a notation on its records or giving instructions to the registrar and
transfer agent of the Company in order to implement the restrictions on transfer
set forth and described in this Agreement.

5.3 The Subscriber hereby acknowledges and agrees that he has
been advised by the Company to consult with his own legal counsel or advisors to
determine the resale restrictions that may be applicable to him.

5.4 The Subscriber hereby acknowledges, agrees and instructs
that the certificates representing the Shares will not bear legends relating to
Canadian securities laws.

5

6. Costs

6.1 Eleuthariadis acknowledges and agrees that all costs and
expenses incurred by Eleuthariadis (including any fees and disbursements of any
special counsel retained by Elefthariadis) relating to the acquisition of the
Shares shall be borne by Elefthariadis.

7. Governing Law

7.1 This Agreement shall be construed and enforced in
accordance with and governed by the laws of the State of Nevada, without
reference to principles of conflicts or choice of law thereof. Each of the
parties consents and attorns to the jurisdiction of the U.S. District Court in
the State of Nevada.

8. Survival

8.1 This Agreement, including without limitation the
representations, warranties and covenants contained herein, shall survive and
continue in full force and effect and be binding upon the parties hereto
notwithstanding the completion of the purchase of the Shares by Elefthariadis
pursuant hereto.

9. Assignment

9.1 This Agreement is not transferable or assignable.

10. Counterparts and Electronic Means

10.1 This Agreement may be executed in several counterparts,
each of which will be deemed to be an original and all of which will together
constitute one and the same instrument. Delivery of an executed copy of this
Agreement by electronic facsimile transmission or other means of electronic
communication capable of producing a printed copy will be deemed to be execution
and delivery of this Agreement as of the date first above written.

11. Severability

11.1 The invalidity or unenforceability of any particular
provision of this Agreement shall not affect or limit the validity or
enforceability of the remaining provisions of this Agreement.

12. Entire Agreement

12.1 Except as expressly provided in this Agreement and in the
agreements, instruments and other documents contemplated or provided for herein,
this Agreement contains the entire agreement between the parties with respect to
the subject matter hereof and there are no other terms, conditions,
representations or warranties, whether expressed, implied, oral or written, by
statute or common law, by the Company or by anyone else.

IN WITNESS WHEREOF the parties hereto have duly executed
this Agreement as of the date first above written.

	ANAVEX LIFE SCIENCES CORP. 	  
	By:_________________________________ 

name:
      

title: 	“Andreas Eleuthariadis”
      
Andreas Eleuthariadis

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