Revive Therapeutics Agrees to Acquire Psilocin Pharma Corp.

February 11, 2020

Revive Therapeutics Ltd. entered into a letter of intent to acquire all issued and outstanding securities of Psilocin Pharma Corp. for an aggregate purchase price of $2.75 million to be satisfied by issuing 55 million common shares of Revive (deemed $0.05/share). Revive deposited 10 million shares ($500,000) into escrow as a deposit; the closing is subject to due diligence and execution of a definitive share exchange agreement.

Buyers
Revive Therapeutics Ltd.
Targets
Psilocin Pharma Corp.
Sellers
Shareholders of Psilocin Pharma Corp.
Industry
Pharmaceuticals
Location
Ontario, Canada
Transaction Type
Buyout

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