TORONTO, April 21, 2025 (GLOBE NEWSWIRE) — Revive Therapeutics Ltd. (“Revive” or the “Company”) (OTCQB: RVVTF) (CSE: RVV) (FRANKFURT:31R), a specialty life sciences company focused on the research and development of therapeutics for infectious diseases, rare disorders, and medical countermeasures, announces that it is proposing to settle an aggregate of $150,000 in payables to arm’s length parties through the issuance of up to 6,000,000 common shares, at a proposed issue price of $0.025 per share (the “Shares for Debt Transaction”). The issue price is based upon the 20-day VWAP of the shares traded on the CSE.
The Company believes that it is desirable to settle these outstanding payables by the issuance of the common shares in order to preserve the Company’s cash for ongoing operations.
Closing of the Shares for Debt Transaction is subject to customary closing conditions and the Company intends to close as soon as practicable. The common shares to be issued pursuant to the Shares for Debt Transaction 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 life sciences company focused on the research and development of therapeutics for infectious diseases and medical countermeasures. Revive prioritizes its drug development efforts to take advantage of several regulatory incentives awarded by the FDA, such as Emergency Use Authorization, Orphan Drug, Fast Track, and Breakthrough Therapy designations. Currently, the Company is exploring the use of Bucillamine for the potential treatment of nerve agent exposure and long COVID. Revive is also advancing the development of Psilocybin and molecular hydrogen therapeutics through various programs. 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: mfrank@revivethera.com
Website: www.revivethera.com