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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