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Resverlogix Announces Pricing of Unit Offering
[May 15, 2019]

Resverlogix Announces Pricing of Unit Offering


NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

CALGARY, Alberta, May 15, 2019 (GLOBE NEWSWIRE) -- Resverlogix Corp. ("Resverlogix" or the "Company") (TSX:RVX)  is pleased to announce today that it has priced its previously announced marketed offering (the “Offering”) of units of the Company (the “Units”) at $4.00 per Unit.  Each Unit consists of one common share and one common share purchase warrant. Each warrant is exercisable at a price of $4.60 per underlying common share for a period of 4 years from the first closing of the Offering. The number of Units to be distributed, and the minimum and maximum size of the Offering, will be determined by negotiation between the Company and the Agent (as defined herein) in the context of the market.

The Offering will be undertaken on a best efforts basis pursuant to the terms and conditions of an agency agreement to be entered into between the Company and Bloom Burton Securities Inc. (the “Agent”). In connection with the Offering, the Agent will be paid a cash commission equal to 7.0% of the gross proceeds of the Offering and it will be issued that number of non-transferable broker warrants exercisable for Common Shares equal to 7.0% of the number of Units sold in the Offering to be effected in the provinces of Ontario, Alberta and British Columbia pursuant to a short form prospectus. Prior to the completion of the offering, Resverlogix has 200,329,419 common shares issued and outstanding.

The net proceeds of the Offering will be used to fund research and development activities, including clinical trial activities related to the Company’s Phase 3 BETonMACE trial, repayment of indebtedness, general and administrative expenses, working capital needs and other general corporate purposes.

This transaction is subject to satisfaction of customary closing conditions, including the receipt of all necessary regulatory and stockexchange approvals. It is anticipated that the closing of the Offering will occur on or about May 30, 2019, or such other date or dates as the Company and the Agent may agree.



The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold to, or for the account or benefit of, persons in the United States or to U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act), except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities to, or for the account or benefit of, persons in the United States or U.S. Persons.

About Resverlogix


Resverlogix is developing apabetalone (RVX-208), a first-in-class, small molecule that is a selective BET (bromodomain and extra-terminal) inhibitor. BET bromodomain inhibition is an epigenetic mechanism that can regulate disease-causing genes. Apabetalone is a BET inhibitor selective for the second bromodomain (BD2) within the BET proteins. This selective inhibition of apabetalone on BD2 produces a specific set of biological effects with potentially important benefits for patients with high-risk cardiovascular disease, diabetes mellitus, chronic kidney disease, end-stage renal disease treated with hemodialysis, neurodegenerative disease, Fabry disease, peripheral artery disease and other orphan diseases, while maintaining a well described safety profile.

Resverlogix common shares trade on the Toronto Stock Exchange (TSX:RVX).

Follow us on Twitter: @Resverlogix_RVX

For further information please contact:

Investor Relations
Email:ir@resverlogix.com
Phone: 403-254-9252
Or visit our website: www.resverlogix.com

This news release may contain certain forward-looking information as defined under applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. In particular, this news release includes forward looking information relating to the potential role of apabetalone in the treatment of high-risk cardiovascular disease, diabetes mellitus, chronic kidney disease, end-stage renal disease treated with hemodialysis, neurodegenerative disease, Fabry disease, peripheral artery disease and other orphan diseases, the offering of Units, the completion of the Offering and the terms and use of proceeds of the Offering. Our actual results, events or developments could be materially different from those expressed or implied by these forward-looking statements. We can give no assurance that any of the events or expectations will occur or be realized. By their nature, forward-looking statements are subject to numerous assumptions and risk factors including those discussed in our Annual Information Form and most recent MD&A which are incorporated herein by reference and are available through SEDAR at www.sedar.com. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

 

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