- Revive Therapeutics (RVV) has signed a supply agreement with Red Light Holland Financing
- The agreement will involve the sale of Red Light’s truffle products to Revive Therapeutics for the purpose of research
- As consideration for the deal, each company will purchase a stake in the other worth C$150,000
- Shares in Revive Therapeutics are currently trading at 6.5 cents, with a market cap of C$3.95 million
Cannabis life sciences company, Revive Therapeutics (CSE:RVV), has entered into a supply agreement with Netherlands-based Red Light Holland Financing.
Red Light Holland’s chief focus is on the production, growth and sale of psychedelic truffles in compliance will all applicable laws.
Under the agreement, Red Light will sell a consistent strain of their truffle products to Revolve Therapeutics for research into their potential as an innovative form of cannabinoid delivery.
“Revive is excited to be working with Red Light to explore the use of its delivery technology with unique products such as truffles,” said Revive President, Michael Frank.
“We are confident that the results of Revive’s research will highlight the versatility of its cannabinoid delivery platform.”
Red Light has also agreed, on Revive’s request, to the provision of various studies, papers and other information regarding its truffles.
“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 CEO of Red Light Holland, Todd Shapiro.
As consideration for the agreement, Revive Therapeutics has agreed to purchase 2,500,000 subscription receipts at 6 cents each, for a total cost of $150,000.
On closing of the transaction, each of these subscription receipts will entitle Revive Therapeutics to purchase one common share in the capital of Red Light.
Likewise, Revive Therapeutics will issue a total of 3,000,000 common shares to Red Light at C$0.05 each, for a total price of C$150,000.
Shares in Revive Therapeutics are currently trading at 6.5 cents, with a market cap of C$3.95 million.