Revive Therapeutics to Pursue the Psychedelic Market With Agreement and Investment in Red Light Holland Financing
February 10 2020 - 7:00AM
Revive Therapeutics Ltd. (“Revive”), a cannabis life sciences
company focused on novel cannabinoid-based treatments for rare
inflammatory diseases, is pleased to announce that it has entered
into a supply and collaboration agreement (the “Agreement”) with
Red Light Holland Financing Inc. (“Red Light”), an arm’s length
party.
Pursuant to the Agreement Red Light will sell to
Revive a consistent strain of truffles for the sole purpose of
Revive undertaking research and development on the suitability and
implementation of its novel cannabinoid delivery technology with
respect to the truffles and its extracts. Red Light has also agreed
to, upon request, provide Revive with any information, studies,
papers and other information it may have pertaining to the truffles
which may be deemed to be beneficial to Revive for undertaking the
research and development.
“Revive is excited to be working with Red Light
to explore the use of its delivery technology with unique products
such as truffles,” stated Michael Frank, the President of Revive.
“We are confident that the results of Revive’s research will
highlight the versatility of its cannabinoid delivery
platform.”
“As Red Light Holland heads down the road of
securing its facility in the Netherlands and commencing our
cultivation of Premium Red Light Truffles, we are elated to be
partnering and eventually aiming to supply companies with our
truffles, such as Revive, who will perform true clinical testing in
hopes of publishing ground-breaking and progressive medical
results,” said Todd Shapiro, CEO of Red Light Holland.
In addition, as a condition of the Agreement,
Revive has agreed to subscribe for 2,500,000 subscription receipts
(the “Subscription Receipts”) of Red Light at a price of $0.06 per
Subscription Receipt for an aggregate consideration of $150,000.
Each Subscription Receipt shall entitle Revive, upon conversion and
with any additional consideration, to acquire one common share in
the capital of Red Light. In consideration for the Subscription
Receipts, Revive will issue to Red Light an aggregate of 3,000,000
common shares in the capital of Revive at a price of $0.05 per
share for aggregate consideration of $150,000.
About Red Light Holland Financing
Inc.
Red Light’s core business is expected to revolve
around the production, growth and sale of truffles’ products in
compliance with all applicable laws and is a company registering,
strategically, to be based in the Netherlands, an area that
currently sells truffles. Red Light has collected a core group of
highly skilled individuals who bring a wealth of knowledge and
experience relating to growing, mass-producing, compliance,
distributing, marketing and managing - which the company believes
is necessary to assist in establishing itself as a leader in this
emerging field. Red Light intends to fill this gap by providing a
product that is grown under the strictest health and safety
guidelines, and intends to market and sell its products pursuant to
an EU-GMP certification, which it does not currently possess. Red
Light plans to generate revenues by providing recreational grade
truffles and potentially EU-GMP medical grade truffles to the
current adult use market in the Netherlands.
About Revive Therapeutics
Ltd.
Revive is a cannabis life sciences company
focused on the research, development and commercialization of novel
cannabinoid-based products. Revive’s novel cannabinoid delivery
technology is being advanced to fill the medical needs for diseases
and disorders such as pain, inflammation, and wound care. Revive’s
cannabinoid pharmaceutical portfolio focuses on rare inflammatory
and liver diseases. For more information, visit
www.ReviveThera.com.
For more information please contact:
Michael FrankChief Executive OfficerRevive
Therapeutics Ltd.
Tel:Email:Website: |
905.605.5535mfrank@revivethera.comwww.revivethera.com |
Neither the Canadian Securities Exchange nor
their regulations services provider have reviewed or accept
responsibility for the adequacy or accuracy of this release.
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