TORONTO, Dec. 20, 2023 (GLOBE NEWSWIRE) -- Revive Therapeutics Ltd. (“Revive” or the “Company”) (OTCQB: RVVTF) (CSE: RVV) (FRANKFURT:31R), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce the results of its annual general and special meeting of shareholders held Tuesday, December 19, 2023 (the “Meeting”) in Toronto, Ontario. All matters presented to the shareholders of the Company (the “Shareholders”) for approval as set out in the Company's Notice of Meeting and Information Circular, dated November 10, 2023 respectively, were approved by an overwhelming majority of votes cast at the Meeting. Of the 357,646,841 shares issued and outstanding on the record date for the Meeting, 143,297,862 shares, being 40% of the shares, were voted.

Shareholders of the Company re-elected Michael Frank, Joshua Herman, William L.C. Jackson, Andrew S. Lindzon and Christian Scovenna (the “Board of Directors”) for the ensuing year.

The Shareholders of the Company re-appointed Clearhouse LLP, Chartered Professional Accountants, as the Company’s auditors for the ensuing year, and authorized the Board of Directors to fix the remuneration to be paid to the auditors.

In addition, the Shareholders approved the Company’s 10% rolling stock option plan (the “Option Plan”), whereby the Company is authorized to issue options under the Option Plan to acquire up to 10% of the then issued and outstanding common shares in the capital of the Company at the time of grant.

Following the Meeting, the Board of Directors re-appointed Michael Frank as Executive Chairman and Chief Executive Officer, and Carmelo Marrelli as Chief Financial Officer and Corporate Secretary (the “Management”).

About Revive Therapeutics Ltd.

Revive Therapeutics is a life sciences company focused on the research and development of therapeutics for infectious diseases and rare disorders, and it is prioritizing drug development efforts to take advantage of several regulatory incentives awarded by the FDA such as Emergency Use Authorization, Orphan Drug, Fast Track, and Breakthrough Therapy designations. Currently, the Company is exploring the use of Bucillamine for the potential treatment of public health medical emergencies and rare inflammatory disorders. Revive is also advancing the development of Psilocybin-based therapeutics through various programs. For more information, visit www.ReviveThera.com.

For more information, please contact:

Michael Frank
Chief Executive Officer
Revive Therapeutics Ltd.
Tel: 1 888 901 0036
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.revivethera.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement

This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “may”, “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Revive’s current belief or assumptions as to the outcome and timing of such future events. Forward looking information in this press release includes information with respect to the Company’s cannabinoids, psychedelics and infectious diseases programs. Forward-looking information is based on reasonable assumptions that have been made by Revive at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Revive is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein. Reference is made to the risk factors disclosed under the heading “Risk Factors” in the Company's management's discussion and analysis for the three months ended September 30, 2023 ("MD&A"), dated November 29, 2023, which is available on the Company's profile at www.sedarplus.ca.