Revive Therapeutics Completes First Tranche of Private Placement

Revive Therapeutics Ltd., a life sciences company based in Toronto, announced the closing of the first tranche of its non-brokered private placement. The company raised gross proceeds of $246,920 through this initiative. The private placement involved the sale of 7,716,250 units at $0.032 each. Each unit consists of a common share and a purchase warrant, allowing the holder to acquire an additional share for $0.05 within 36 months.

The funds from this private placement will primarily support working capital needs. Additionally, Revive issued broker warrants, enabling holders to purchase shares at $0.05 over the next three years. All securities are subject to a hold period of four months and one day from issuance. The company plans to provide updates on subsequent closings.