Mr. Fabio Chianelli reports

REVIVE THERAPEUTICS LTD. ANNOUNCES RESULTS FOR FISCAL YEAR ENDED JUNE 30, 2014

Revive Therapeutics Ltd. has released its results for the fiscal year ended June 30, 2014. The audited financial statements, and management's discussion and analysis for the year ended June 30, 2014, may be viewed on SEDAR.

Operational highlights:

• On Jan. 8, 2014, Revive announced that it has begun trading on the TSX Venture Exchange under the symbol RVV;
• On Jan. 15, 2014, Revive announced the initiation of a phase 2a proof of concept study of REV-001 for the prevention of opioid-induced respiratory depression;
• On Feb. 12, 2014, Revive announced interim results of the first eight patients from its continuing phase 2a proof of concept study of REV- 001 for the prevention of opioid-induced respiratory depression;
• On Feb. 20, 2014, Revive announced that it has signed a material transfer agreement (MTA) with a global pharmaceutical company headquartered in Osaka, Japan. Pursuant to the MTA, Revive will have access to confidential information and clinical trial supply of the drug Bucillamine for Revive's human clinical trial of REV-002, a potential new treatment for gout. In return, the global pharmaceutical company will have exclusive commercialization rights in Japan, Korea and Taiwan, and Revive will have exclusive commercialization rights in the rest of the world;
• On April 30, 2014, Revive announced that it has submitted a preinvestigational new drug meeting request to the U.S. Food and Drug Administration (FDA) for its gout drug candidate, REV-002;
• On May 14, 2014, Revive announced positive preclinical results for Rett syndrome, a rare disease;
• On June 5, 2014, Revive announced that it has submitted a preinvestigational new drug package to the U.S. FDA for its gout drug candidate, REV-002;
• On June 27, 2014, Revive announced positive results from the second half of its phase 2a proof of concept study of REV-001, targeted for the treatment and/or prevention of opioid-induced respiratory depression.

Financial highlights:

• Cash and cash equivalents for the fiscal year ended June 30, 2014, totalled $1,188,919 compared with $705,865 for the period ended June 30, 2013;
• Net loss for the fiscal year ended June 30, 2014, was $1,257,089, compared with a net loss of $177,275 for the period ended June 30, 2013. The increase consisted primarily of the reverse takeover transaction cost, professional and consulting fees, stock-based compensation, and research costs;
• The company's research costs for the fiscal year ended June 30, 2014, were $164,644, compared with $58,878 for the period ended June 30, 2013;
• Subsequent to its fiscal year-end, on July 23, 2014, 296,387 broker warrants expiring on Dec. 30, 2014, were exercised for 296,387 common shares of the company at 30 cents per share for total proceeds of $88,916;
• Subsequent to its fiscal year-end, on July 24, 2014, 118,540 broker warrants expiring on July 12, 2015, were exercised for 118,540 common shares of the company at 30 cents per share for total proceeds of $35,562.

Fabio Chianelli, chief executive officer of Revive Therapeutics, commented: "Over the last 12 months we have achieved a number of significant corporate and operational milestones that pave the way for Revive to advance its development programs toward commercialization. Over the course of the year, we look forward to furthering our development and commercialization efforts, and creating value for our shareholders."

We seek Safe Harbor.