Mr. Michael Frank reports

REVIVE THERAPEUTICS ANNOUNCES PROPOSED SHARES FOR DEBT SETTLEMENT

Revive Therapeutics Ltd. has arranged a proposed debt settlement pursuant to which the company intends to issue up to 1,221,516 common shares in the capital of the company at a deemed price of five cents per settlement share to settle an aggregate of $61,061 in outstanding trade payables owing to two arm's-length creditors of the company.

The settlement shares will be issued in accordance with the policies of the Canadian Securities Exchange (the CSE). All settlement shares issued pursuant to the debt settlement will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws. Completion of the debt settlement remains subject to certain conditions, including receipt of all necessary regulatory approvals, including approval of the CSE.

The debt settlement is expected to close no earlier than five business days from the date of this news release and remains subject to CSE acceptance

About Revive Therapeutics Ltd.

Revive Therapeutics is a life sciences company focused on the research and development of therapeutics for biodefence and pandemic preparedness.