Revive Therapeutics Ltd. Announces Offering of Up to $5 Million - GlobeNewswire
TORONTO, Nov. 30, 2022 (GLOBE NEWSWIRE) -- REVIVE THERAPEUTICS LTD. (CSE: RVV; OTCQB: RVVTF) (“Revive” or the “Company”) is pleased to announce that it is arranging a private placement of a minimum of $3 million and up to $5 million of units (each, a “Unit”), at a price of $0.15 per Unit; (the “Offering”). The Offering is being led by EMD Financial Inc.
Each Unit shall be comprised of one common share (“Common Share”) in the capital of the Company and one (1) Common Share purchase warrant (“Warrant”) of the Company. Each Warrant shall entitle the holder thereof to acquire one additional Common Share at a price of $0.20 for a period of thirty-six (36) months from the closing date (the “Closing Date”) of the Offering.
There is an offering document (the “Offering Document”) related to the Offering that can be accessed under the Company’s profile at www.sedar.com and on the Company’s website at https://revivethera.com. Prospective investors should read this offering document before making an investment decision.
As disclosed in the Offering Document, the company intends to use the net proceeds for general working capital purposes and clinical development.
In connection with the Offering, the Company will pay finder’s fees and issue finder warrants to EMD Financial Inc. as well as any other registrants participating in the Offering consisting of: (i) cash finder’s fees of up to 8% of the gross proceeds of the Offering; and (ii) finder warrants in an amount equal to up to 8% of...