Revive Therapeutics Announces Results of Annual Shareholder Meeting
Rhea-AI Summary
Revive Therapeutics (OTCQB: RVVTF) held its annual shareholder meeting on March 18, 2025, where several key decisions were made. Shareholders elected five board members, including CEO Michael Frank and four independent directors: Joshua Herman, Andrew Lindzon, William Jackson, and Christian Scovenna.
The meeting also resulted in the approval of Horizon Assurance LLP as the company's auditor, authorization for directors to set auditor remuneration, and continuation of the company's 10% rolling incentive stock option plan. Notably, following shareholder feedback, the Board decided not to proceed with a proposed amendment to consolidate outstanding Common Shares.
Positive
- Shareholders rejected share consolidation proposal, preventing potential share dilution
- Continuation of 10% rolling incentive stock option plan approved
Negative
- None.
News Market Reaction – RVVTF
On the day this news was published, RVVTF gained 10.77%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
TORONTO, March 19, 2025 (GLOBE NEWSWIRE) -- Revive Therapeutics Ltd. (“Revive” or the “Company”) (OTCQB: RVVTF) (CSE: RVV) (FRANKFURT:31R), a specialty life sciences company focused on the research and development of therapeutics for infectious diseases, rare disorders, and medical countermeasures, is pleased to announce the voting results for its annual and special meeting of shareholders (the “Meeting”) that was held on Tuesday, March 18, 2025.
At the Meeting, shareholders elected the following nominees to the board of directors:
- Michael Frank, Chief Executive Officer
- Joshua Herman, Independent Director
- Andrew Lindzon, Independent Director
- William Jackson, Independent Director
- Christian Scovenna, Independent Director
Shareholders also approved:
- The appointment of Horizon Assurance LLP, Chartered Professional Accountants, as the auditor of the Company for the ensuing fiscal year
- Authorization for the directors to fix the remuneration paid to the auditor
- A resolution authorizing the continuation of Company’s
10% rolling incentive stock option plan for the ensuing year
In light of feedback from shareholders, the Board of Directors decided not to proceed with the proposal to amend of the Company’s articles of incorporation to consolidate its outstanding Common Shares.
About Revive Therapeutics Ltd.
Revive Therapeutics is a life sciences company focused on the research and development of therapeutics for infectious diseases and medical countermeasures. Revive prioritizes its drug development efforts to take advantage of several regulatory incentives awarded by the FDA, such as Emergency Use Authorization, Orphan Drug, Fast Track, and Breakthrough Therapy designations. Currently, the Company is exploring the use of Bucillamine for the potential treatment of nerve agent exposure and long COVID. Revive is also advancing the development of Psilocybin-based therapeutics through various programs. For more information, visit www.ReviveThera.com.
For more information, please contact:
Michael Frank
Chief Executive Officer
Revive Therapeutics Ltd.
Tel: 1 888 901 0036
Email: mfrank@revivethera.com
Website: www.revivethera.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement
This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “may”, “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Revive’s current belief or assumptions as to the outcome and timing of such future events. Forward looking information in this press release includes information with respect to the Company’s cannabinoids, psychedelics and infectious diseases programs. Forward-looking information is based on reasonable assumptions that have been made by Revive at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Revive is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein. Reference is made to the risk factors disclosed under the heading “Risk Factors” in the Company's management's discussion and analysis for the three months ended December 31, 2024 ("MD&A"), dated February 24, 2025, which is available on the Company's profile at www.sedarplus.ca.
FAQ
What were the key decisions made at Revive Therapeutics' (RVVTF) 2025 annual shareholder meeting?
Who are the newly elected board members for Revive Therapeutics (RVVTF) in 2025?
Why did Revive Therapeutics (RVVTF) cancel the proposed share consolidation in March 2025?
What stock option plan was approved at Revive Therapeutics' (RVVTF) 2025 shareholder meeting?
