Mergers & Acquisitions
By The Online Investor Staff, updated Wed., Feb. 26, 2:30 PM
| This Slide: #72 of 100 |
Slide #72. Revive Therapeutics Ltd. — Psilocin Pharma Corp.
Acquirer:
Revive Therapeutics Ltd. (RVVTF)
Acquiree:
Psilocin Pharma Corp.
Details:
Revive Therapeutics Ltd. ("Revive" or the "Company") is pleased to announce that it has entered into a letter of intent, dated February 11, 2020 (the "LOI") with Psilocin Pharma Corp. ("Psilocin"), an arm's length party incorporated pursuant to the laws of the Province of Ontario. Pursuant to the terms of the LOI, Revive will acquire all of the issued and outstanding securities of Psilocin (the "Proposed Acquisition") for an aggregate purchase price of $2.75 million (the "Purchase Price"). The Purchase Price will be satisfied through the issuance of an aggregate of 55 million common shares in the capital of Revive at a deemed price of $0.05 per share.
Revive Therapeutics is engaged in the development and commercialization of drugs for underserved medical needs. Co. is focused on acquiring, developing and commercializing treatments for major market opportunities such as sleep apnea, gout and rare diseases. Co. also aims to bring drugs to the market by finding new uses for old drugs, also known as drug repurposing, and improving the therapeutic performance of existing drugs for underserved medical needs.
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