Revive Therapeutics Ltd. announced a private placement of a minimum of 20,000,000 units and maximum of 33,333,333 units at an issue price of CAD 0.15 for minimum gross proceeds of CAD 3,000,000 and maximum gross proceeds of CAD 5,000,000 led by EMD Financial Inc. on November 30, 2022. Each unit shall be comprised of one common share and one common share purchase warrant. Each warrant shall entitle the holder thereof to acquire one additional common share at a price of CAD 0.20 for a period of thirty-six months from the closing date of 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 in an amount equal to up to 8% of the number of Units issued pursuant to the transaction, exercisable at a price of CAD 0.15 per common share for a period of thirty-six months following the Closing Date. The transaction is expected to close on or about December 14, 2022, or such later date as the company may determine. 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 Canadians Securities Exchange (CSE).