Business
Resverlogix Announces CDN $10 Million Equity Offering
Resverlogix Announces CDN $10 Million Equity Offering
About this update from Resverlogix Corp.
[{"type":"text","content":"\n\n\n\n Jun. 16, 2010 (Canada NewsWire Group) -- /THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH US NEWSWIRE SERVICES/\n\nTSX Symbol: RVX\n\n Resverlogix Corp. ("Resverlogix" or the "Company") (TSX:RVX) announces that it has entered into an agency agreement and has carried out an overnight marketed offering to sell up to approximately 3.1 million units (the "Units") at a price of CDN $3.23 per Unit, representing gross proceeds of up to $10 million. Each Unit is comprised of one common share and 0.4 of a common share purchase warrant. Each full warrant will have an exercise price of CDN $4.00, exercisable for a four year period commencing on the closing date of the offering. The offering is being conducted by Bloom Burton & Co. and Haywood Securities Inc., and is to be effected in each of the Canadian provinces of British Columbia, Alberta and Ontario by way of a prospectus supplement to Resverlogix's base shelf prospectus dated April 20, 2010. Prior to the offering, Resverlogix had 48,828,376 common shares issued and outstanding.\nThis transaction is scheduled to close on or about June 22, 2010, subject to satisfaction of customary closing conditions, including the receipt of all necessary regulatory and stock exchange approvals.\n\nAbout Resverlogix Corp.\n\nResverlogix Corp. is a leading biotechnology company engaged in the development of novel therapies for important global medical markets with significant unmet medical needs. The NexVas(TM) PR program is the Company's primary focus which is to develop novel small molecules that enhance ApoA-I. These vital therapies address the burden of atherosclerosis and other important diseases such as Acute Coronary Syndrome, Diabetes, Alzheimer's disease, Peripheral Artery Disease and other vascular disorders. Resverlogix Corp.'s common shares trade on the Toronto Stock Exchange (TSX:RVX). For further information please visit www.resverlogix.com.\n\nThis news release may contain certain forward-looking statements as defined under applicable Canadian securities legislation, including our statements with respect to, the current and/or future financings, research, development and commercialization of novel therapeutics that reduce the risk of cardiovascular disease including atherosclerosis, diabetes, Alzheimer's disease, Peripher...