Revive Therapeutics Ltd. Announces Offering of Up to $3 Million
TORONTO, Jan. 24, 2024 (GLOBE NEWSWIRE) -- REVIVE THERAPEUTICS LTD. (CSE: RVV; OTCQB: RVVTF) (“Revive” or the “Company”) announces that it is arranging a private placement of a maximum of 85,714,285 units (each, a “Unit”), at a price of $0.035 per Unit, for gross proceeds of up to $3 million (the “Offering”).
- Each Unit shall be comprised of one common share (“Common Share”) in the capital of the Company and one-half (1/2) of a Common Share purchase warrant (“Warrant”) of the Company.
- Each whole Warrant shall entitle the holder thereof to acquire one additional Common Share at a price of $0.05 per Common Share for a period of thirty-six (36) months from the closing date (the “Closing Date”) of the Offering.
- The Offering is expected to close in one or more tranches with the first tranche anticipated to close on or before February 1, 2024.
- All securities issued pursuant to the Offering will be subject to a statutory hold period of four months and one day.