Revive Therapeutics Receives Receipt for Final Short-Form Prospectus for Previously Announced $20 Million Bought Deal Public Offering

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE:RVV) (USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce that, further to its press releases dated January 20, 2021 and January 21, 2021, the Company has received a receipt for its final short form prospectus filed with the securities commissions in each of the provinces of Canada, other than Québec, in connection with its previously announced bought deal offering (the "Offering") for aggregate gross proceeds of $20,000,000 through a syndicate of underwriters led by with Canaccord Genuity Corp. and Leede Jones Gable Inc. as the co-lead underwriters (together, the "Underwriters").

The Company has granted the Underwriters an option, exercisable in part or in whole at the Underwriter’s sole discretion, at any time until 30 days following closing, to purchase up to that number of additional equity units, common shares or warrants, or any combination thereof, as is equal to 15% of the aggregate number of equity units sold in the Offering to cover over-allotments, if any.

Closing of the Offering is expected to occur on February 12, 2021, or such other date as may be agreed by the Company and the Underwriters, acting reasonably.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This press release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities in the United States, nor in any other jurisdiction in which such offer, solicitation or sale would be unlawful. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.