Revive Therapeutics Announces Proposed Private Placement and Debt Settlement
Each unit will consist of one common share of the Company and one common share purchase warrant. Each warrant will entitle the holder to acquire one common share at an exercise price of $0.05 for a period of 36 months following the closing. The issue price per unit is based upon the 20-day VWAP of the shares traded on the CSE at the time that the Company obtained price protection.
The gross proceeds from the private placement offering will be used for working capital and payment of certain trade payables. The proposed private placement may close in one or more tranches.
The Company believes that it is desirable to settle the outstanding note payable by the issuance of securities in order to preserve the Company's cash for ongoing operations.
Closing of the private placement and the debt settlement is subject to customary closing conditions and the Company intends to close as soon as practicable. All of the securities will be subject to a hold period of four months and one day from the date of issuance.
About Revive Therapeutics Ltd.
Revive Therapeutics is a specialty life sciences company dedicated to developing innovative therapeutics for critical medical needs. Revive strategically prioritizes its drug development pipeline to leverage FDA regulatory incentives like Emergency Use Authorization, Orphan Drug, Fast Track, and Breakthrough Therapy designations, positioning for rapid advancement and market entry. Currently, our efforts are concentrated on unlocking the vast potential of Bucillamine for infectious diseases and medical countermeasures, including the pioneering treatment of nerve agent exposure. Furthermore, Revive is vigorously advancing our Psilocybin and molecular hydrogen therapeutic programs, exploring new frontiers in medical science. For more information, visit www.ReviveThera.com.
For more information, please contact:
Michael Frank
Chief Executive Officer
Revive Therapeutics Ltd.
Tel: 1 888 901 0036
Email: [email protected]
Website: www.revivethera.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider has reviewed or accepts responsibility for the adequacy or accuracy of this release.
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