REVIVE THERAPEUTICS LTD. RVVTF RVV announced that it is arranging a private placement of a minimum of $3 million and up to $5 million of units, at a price of $0.15 per unit;. The offering is being led by EMD Financial Inc.
Each unit shall be comprised of one common share in the capital of the company and one common share purchase 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 months from the closing date of the offering.
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: cash finder’s fees of up to 8% of the gross proceeds of the offering and finder warrants in an amount equal to up to 8% of the number of units issued pursuant to the offering, exercisable at a price of $0.15 per common share for a period of thirty-six months following the closing date.
The units offered as a part of the offering shall be offered to purchasers resident in all provinces of Canada, except Québec, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. The company may issue up to an aggregate of 33.33 million units for maximum aggregate gross proceeds of $5 million under the listed issuer financing exemption. Units offered under the listed issuer financing exemption will not be subject to resale restrictions pursuant to applicable Canadian securities laws.
The offering is anticipated to close on or about December 14, 2022, or such later date as the company may determine. The closing is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Canadians Securities Exchange.
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