Revive Therapeutics Announces Proposed Private Placement and Debt Settlement

Globe and Mail

4 days ago

TORONTO, July 30, 2025 (GLOBE NEWSWIRE) -- Revive Therapeutics Ltd. ('Revive' or the 'Company') (OTCQB: RVVTF) (CSE: RVV) (FRANKFURT: 31R), a specialty life sciences company dedicated to developing innovative therapeutics for critical medical needs, announces that it is proposing to arrange a private placement offering of up to 30,952,381 units, at a price of $0.021 per unit, for gross proceeds to Revive of up to $650,000, and to settle $67,400 owing pursuant to an arm's length note payable by the issuance of 3,209,523 units, at a price of $0.021 per unit, being the same issue price and security being offering pursuant to the private placement.
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: [phone]
Email: [e-mail]
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.
Cautionary Statement
This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words 'may', 'could', 'intend', 'expect', 'believe', 'will', 'projected', 'estimated' and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Revive's current belief or assumptions as to the outcome and timing of such future events. Forward looking information in this press release includes information with respect to the Company's cannabinoids, psychedelics and infectious diseases programs. Forward-looking information is based on reasonable assumptions that have been made by Revive at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Revive is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein. Reference is made to the risk factors disclosed under the heading 'Risk Factors' in the Company's management's discussion and analysis for the three and nine months ended March 31, 2025 ("MD&A"), dated May 29, 2025, which is available on the Company's profile at www.sedarplus.ca.