On January 12, 2023, Revive Therapeutics Ltd. closed the transaction. The company issued 28,676,064 units at an issue price of CAD 0.15 per unit for gross proceeds of CAD 4,301,409. Each unit is comprised of one common share and one common share purchase warrant.

Each warrant shall entitle the holder thereof to acquire one additional common share at a price of CAD 0.20 for a period of thirty-six months from the closing date of the offering. As part of transaction the company paid CAD 304,112.75 finder fee in cash. The offering is subject to final acceptance by the Canadian Securities Exchange.