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Revive Therapeutics Announces Closing of First Tranche of Private Placement and Debt Settlement

TORONTO, Aug. 11, 2025 (GLOBE NEWSWIRE) -- Revive Therapeutics Ltd. ("Revive" or the "Company") (OTCQB:RVVTF) (CSE:RVV) (FRANKFURT: 31R), a specialty life sciences company dedicated to developing innovative therapeutics for critical medical needs, announces that it has closed the first tranche of its previously announced private placement offering (the "Offering"). The first tranche of the Offering consisted of the issuance of 2,900,000 units of the Company (each, a "Unit"), at a price of $0.021 per Unit, for total gross proceeds to Revive of $60,900. Furthermore, the Company announces that it has settled an amount of $67,400 owing pursuant to an arm's length note through the issuance of 3,209,523 Units, at a price of $0.021 per Unit, being the same issue price and security offered pursuant to the Offering.

Each Unit is comprised of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one Common Share at an exercise price of $0.05 for a period of 36 months following the date of issuance.

The gross proceeds from the Offering will be used by the Company for working capital and payment of certain trade payables.

The Company determined that it was desirable to settle the outstanding note payable through the issuance of securities in order to preserve the Company's cash for ongoing operations.

In connection with the closing of the first tranche ...