Revive BioScience Ltd. Rescinds Asset Purchase Deal with Axxess Pharma Inc.

TORONTO, June 24, 2014 (GLOBE NEWSWIRE) -- Revive BioScience Ltd. has rescinded the asset purchase agreement for the company's TapOut brand of products and related patents with Axxess Pharma Inc. for (OTC Pink:AXXE) for failure to complete the transaction. As part of the rescission Revive is demanding that all its assets to be returned to Revive by Axxess. Revive will further be looking to recover damages from Axxess based on the many misrepresentations Axxess has made in the market place about its assets when the asset purchase was never properly completed.

A spokesman for Revive stated, "The company has made every effort to complete the transaction which was falsely stated in a press release by Axxess Pharma to have been concluded. We need to assure the market that Revive has acted fairly in trying to complete the transaction, but has not been able to deal with Axxess management on many of the points needed to be addressed. It is therefore necessary to rescind the deal and pursue all legal remedies open to Revive against Axxess."

Forward Looking Statement:

This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our financial networking and press release businesses. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with a smaller public company engaged in an industry subject to rapid change. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.

CONTACT: 647-799-1051Source:Revive BioScience Ltd