Revive Therapeutics Proposes Shares for Debt Settlement

Revive Therapeutics Ltd., a Toronto-based life sciences company, plans to settle $61,061 in outstanding trade payables by issuing up to 1,221,516 common shares. These shares will be offered at a deemed price of $0.05 each. This decision aligns with Canadian Securities Exchange (CSE) policies.

The issued shares will be under a statutory hold period of four months and one day, following securities laws. The settlement's completion hinges on regulatory approvals, including the CSE's nod. The anticipated close date of the settlement is at least five business days from the news release date.

This strategic move underscores Revive Therapeutics' efforts in managing its financial obligations while focusing on biodefense and pandemic preparedness research and development.