Revive Therapeutics Announces Extension of Proposed Private Placement

Core Viewpoint - Revive Therapeutics Ltd. is extending its private placement offering to raise up to $650,000, with a first tranche already closed generating $60,900 [1][3]. Group 1: Private Placement Details - The private placement consists of up to 30,952,381 units priced at $0.021 per unit, with gross proceeds expected to be up to $650,000 [1]. - A first tranche of 2,900,000 units was issued at the same price, resulting in total gross proceeds of $60,900 [1]. - The company may close an additional $589,000 worth of units as part of this offering [1]. Group 2: Unit Composition and Terms - Each unit includes one common share and one common share purchase warrant, allowing the holder to acquire one common share at an exercise price of $0.05 for 36 months post-closing [2]. - The issue price per unit is based on the 20-day volume-weighted average price (VWAP) of shares traded on the CSE [2]. Group 3: Use of Proceeds - Gross proceeds from the private placement will be allocated for working capital and payment of certain trade payables [3]. - The private placement may close in multiple tranches, subject to customary closing conditions [3]. Group 4: Company Overview - Revive Therapeutics is focused on developing innovative therapeutics for critical medical needs, leveraging FDA regulatory incentives for rapid advancement [4]. - The company is currently concentrating on Bucillamine for infectious diseases and medical countermeasures, as well as advancing Psilocybin and molecular hydrogen therapeutic programs [4].