Mr. Michael Frank reports

REVIVE THERAPEUTICS ANNOUNCES PROPOSED PRIVATE PLACEMENT AND DEBT SETTLEMENT

Revive Therapeutics Ltd. is proposing to arrange a private placement offering of up to 30,952,381 units, at a price of 2.1 cents per unit, for gross proceeds to Revive of up to $650,000, and to settle $67,400 owing pursuant to an arm's-length note payable by the issuance of 3,209,523 units, at a price of 2.1 cents per unit, being the same issue price and security being offering pursuant to the private placement.

Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to acquire one common share at an exercise price of five cents for a period of 36 months following the closing. The issue price per unit is based upon the 20-day VWAP (volume-weighted average price) of the shares traded on the Canadian Securities Exchange at the time that the company obtained price protection.

The gross proceeds from the private placement offering will be used for working capital and payment of certain trade payables. The proposed private placement may close in one or more tranches.

The company believes that it is desirable to settle the outstanding note payable by the issuance of securities in order to preserve the company's cash for continuing operations.

Closing of the private placement and the debt settlement is subject to customary closing conditions, and the company intends to close as soon as practicable. All of the securities will be subject to a hold period of four months and one day from the date of issuance.

About Revive Therapeutics Ltd.

Revive Therapeutics is a specialty life sciences company dedicated to developing innovative therapeutics for critical medical needs. Revive strategically prioritizes its drug development pipeline to leverage U.S. Food and Drug Administration (FDA) regulatory incentives like emergency use authorization, orphan drug, fast-track and breakthrough therapy designations, positioning for rapid advancement and market entry. Currently, the company's efforts are concentrated on unlocking the vast potential of bucillamine for infectious diseases and medical countermeasures, including the pioneering treatment of nerve agent exposure. Furthermore, Revive is vigorously advancing its psilocybin and molecular hydrogen therapeutic programs, exploring new frontiers in medical science.

We seek Safe Harbor.