Revive Therapeutics Ltd. Announces Key Decisions and Appointments at Annual Shareholders Meeting

LOS ANGELES- Revive Therapeutics Ltd., a specialty life sciences company, held its annual general and special meeting of shareholders on Tuesday, December 19, 2023, in Toronto, Ontario. The meeting concluded with significant decisions affecting the company’s future trajectory.

Unanimous Support for Key Resolutions

During the meeting, shareholders overwhelmingly supported all the proposals outlined in the Company’s Notice of Meeting and Information Circular dated November 10, 2023. A considerable 40% of the shares, amounting to 143,297,862 out of the 357,646,841 shares issued and outstanding, were voted at the meeting.

Board of Directors and Auditor Reappointments

Shareholders re-elected the Board of Directors for the upcoming year, comprising Michael Frank, Joshua Herman, William L.C. Jackson, Andrew S. Lindzon, and Christian Scovenna. Additionally, Clearhouse LLP, Chartered Professional Accountants, retained their role as the Company’s auditors, with the Board of Directors authorized to determine their remuneration.

Approval of the 10% Rolling Stock Option Plan

A key decision was the approval of the Company’s 10% rolling stock option plan (“Option Plan”), allowing Revive to issue options to acquire up to 10% of the issued and outstanding common shares at the time of each grant. This plan is instrumental in incentivizing and retaining key talent within the company.

Management Reappointments

Following the meeting, the Board of Directors re-appointed Michael Frank as the Executive Chairman and Chief Executive Officer. In tandem, Carmelo Marrelli was re-appointed as the Chief Financial Officer and Corporate Secretary, indicating continuity in the company’s leadership.

Revive Therapeutics: A Closer Look

Revive Therapeutics stands at the forefront of developing therapeutics for infectious diseases and rare disorders. The company leverages several regulatory incentives offered by the FDA, including Emergency Use Authorization, Orphan Drug, Fast Track, and Breakthrough Therapy designations. Currently, Revive is focusing on Bucillamine for potential treatments of public health emergencies and rare inflammatory disorders. Furthermore, it is advancing the development of Psilocybin-based therapeutics through various innovative programs.

In conclusion, the outcomes of Revive Therapeutics Ltd.’s annual shareholders meeting reflect a strong vote of confidence in the company’s strategic direction and leadership. As Revive continues to pioneer in the life sciences sector, these decisions are poised to steer the company towards new heights of innovation and growth.