Mr. Michael Frank reports

REVIVE THERAPEUTICS ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT AND DEBT SETTLEMENT

Revive Therapeutics Ltd. has closed the first tranche of its previously announced private placement offering. The first tranche of the offering consisted of the issuance of 2.9 million units of the company, at a price of 2.1 cents per unit for total gross proceeds to Revive of $60,900. Furthermore, the company announces that it has settled an amount of $67,400 owing pursuant to an arm's-length note through the issuance of 3,209,523 units, at a price of 2.1 cents per unit, being the same issue price and security offered pursuant to the offering.

Each unit is composed of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to acquire one common share at an exercise price of five cents for a period of 36 months following the date of issuance.

The gross proceeds from the offering will be used by the company for working capital and payment of certain trade payables.

The company determined that it was desirable to settle the outstanding note payable through the issuance of securities to preserve the company's cash for continuing operations.

In connection with the closing of the first tranche of the offering, Revive issued an aggregate of 100,000 compensation options to an arm's-length investment dealer involved in the offering. Each compensation option entitles the dealer to purchase one unit of the company at a price of five cents per compensation unit for a period of 18 months following the date of issuance.

Each compensation unit is composed of one common share and one-half of a common share purchase warrant. Each whole compensation warrant entitles the holder to acquire one compensation share at an exercise price of five cents for a period of 36 months following the date of issuance.

All of the securities issued are subject to a hold period of four months and one day expiring on Dec. 9, 2025.

About Revive Therapeutics Ltd.

Revive Therapeutics is a specialty life science company dedicated to developing innovative therapeutics for critical medical needs. Revive strategically prioritizes its drug development pipeline to leverage Food and Drug Administration regulatory incentives like emergency use authorization, orphan drug, fast track and breakthrough therapy designations, positioning for rapid advancement and market entry. Currently, its 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.