Revive Therapeutics Ltd. announced a private placement to issue 85,714,285 units at an issue price of CAD 0.035 for the gross proceeds of CAD 2,999,999.975 on January 24, 2024. Each Unit shall be comprised of one common share and one-half of a Common Share purchase warrant. Each whole Warrant shall entitle the holder thereof to acquire one additional Common Share at a price of CAD 0.05 per Common Share for a period of 36 months from the closing.

In connection with the Offering, the Company will pay finder?s fees and issue finder warrants to EMD Financial Inc. as well as any other registrants participating in the Offering consisting of cash finder?s fees of up to 8% of the gross proceeds of the Offering and finder warrants entitling the holder to purchase that number of Units of the Company as is equal to up to 8% of the number of Units issued pursuant to the Offering, exercisable at a price of CAD 0.05 per Compensation Unit, for a period of eighteen months following the Closing Date. The Offering is expected to close in one or more tranches with the first tranche anticipated to close on or before February 1, 2024. The closing is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Canadian Securities Exchange (CSE).

All securities issued pursuant to the Offering will be subject to a statutory hold period of four months and one day.