Revive Therapeutics closes first tranche of C$246,920 private placement
What's the deal? Revive TherapeuticsDealroom has a profile for this one. Try Dealroom → has closed the first tranche of a non-brokered private placement, raising gross proceeds of C$246,920. The Toronto-based life sciences company sold 7,716,250 units at C$0.032 each, with each unit comprising one common share and one warrant.
The terms: Each warrant lets the holder buy a common share at C$0.05 for 36 months after closing. Revive plans to use the proceeds primarily for working capital.
Who got paid: Revive paid finders an aggregate of C$17,433.60 and issued 537,300 broker warrants, each exercisable at C$0.05 over the same 36-month period. All securities carry a hold period of four months and one day.
What's the endgame? Revive focuses on therapeutics for infectious diseases and medical countermeasures. It is exploring bucillamine for infectious diseases, nerve agent exposure, and long COVID, targeting areas that may qualify for regulatory incentives.
Why now? The company said it will provide an update on any further closings under the private placement, signalling more tranches may follow.
The signal: For a micro-cap traded across the OTCQB, CSE, and Frankfurt exchanges, a small working-capital raise keeps the lights on while its drug-development pipeline advances. The staggered tranche structure suggests Revive is topping up cash incrementally rather than pursuing a single large round.
Read more: PR Inside
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