- Revive Therapeutics (RVVTF, Financial) proposes a shares-for-debt transaction to settle $150,000 in payables.
- The transaction involves issuing 6,000,000 common shares at $0.025 per share.
- Issued shares will have a four-month and one-day hold period from the issuance date.
Revive Therapeutics Ltd. (OTCQB: RVVTF), a specialty life sciences company, has announced a strategic move to preserve its cash resources by proposing a shares-for-debt transaction. The company plans to settle $150,000 in outstanding payables to arm's length parties through the issuance of 6,000,000 common shares at a price of $0.025 per share.
The issue price for this transaction is based on the 20-day volume-weighted average price (VWAP) of the shares traded on the Canadian Securities Exchange (CSE). By opting for this method, Revive Therapeutics aims to maintain its financial agility for ongoing operations while managing its financial commitments effectively.
The closing of this transaction is contingent upon customary conditions, and the newly issued shares will come with a hold period of four months and one day from the date of issuance. This initiative underscores Revive Therapeutics' ongoing efforts to manage its financial resources judiciously and reflects its commitment to preserving shareholder value while advancing its research and development programs in infectious diseases and medical countermeasures.
Revive Therapeutics continues to explore innovative therapeutic avenues, including the potential use of Bucillamine for nerve agent exposure and long COVID, alongside advancing its Psilocybin and molecular hydrogen therapeutic programs. For further information, visit their website at www.revivethera.com.
