Revive closes $60,900 first tranche of placement

Executive Summary

• Revive Therapeutics Ltd. has closed the first tranche of its previously announced private placement offering, raising gross proceeds of $60,900.
• The company simultaneously settled $67,400 in outstanding debt (arm's-length note) by issuing shares, effectively preserving cash for operations.
• The transaction involved the issuance of units comprising common shares and warrants, with specific compensation options granted to the investment dealer.

Key Details

• Private Placement Tranche 1:
  • Units Issued: 2.9 million units.
  • Price: 2.1 cents per unit.
  • Gross Proceeds: $60,900.
  • Use of Proceeds: Working capital and payment of certain trade payables.
• Debt Settlement:
  • Amount Settled: $67,400 owing pursuant to an arm's-length note.
  • Units Issued for Settlement: 3,209,523 units.
  • Settlement Price: 2.1 cents per unit (same as the private placement).
  • Rationale: To preserve company cash for continuing operations.
• Security Structure:
  • Each unit consists of one common share and one common share purchase warrant.
  • Warrant Terms: Entitles holder to acquire one common share at an exercise price of five cents.
  • Warrant Duration: 36 months following the date of issuance.
• Dealer Compensation:
  • Options Issued: 100,000 compensation options to an arm's-length investment dealer.
  • Option Terms: Entitles dealer to purchase one unit at a price of five cents per compensation unit.
  • Option Duration: 18 months following the date of issuance.
  • Compensation Unit Structure: One common share and one-half of a common share purchase warrant.
  • Compensation Warrant Terms: Each whole compensation warrant entitles holder to acquire one compensation share at an exercise price of five cents for 36 months.
• Hold Period:
  • All securities issued are subject to a hold period of four months and one day.
  • Expiration Date: December 9, 2025.