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Resverlogix Announces Two-Year Extension of Debenture and Elimination of Conversion Privileges
Calgary, Alberta--(Newsfile Corp. - May 13, 2024) - Resverlogix Corp. (TSX: RVX) ("Resverlogix" o...
About this update from Resverlogix Corp.
[{"type":"text","content":"Resverlogix Announces Two-Year Extension of Debenture and Elimination of Conversion PrivilegesCalgary, Alberta--(Newsfile Corp. - May 13, 2024) - Resverlogix Corp. (TSX: RVX) (\"Resverlogix\" or the \"Company\") announced today a two-year extension of the Company's US$6.0 million secured convertible debenture with Shenzhen Hepalink Pharmaceutical Group Co., Ltd. (\"Hepalink\") (and payment of accrued interest thereon), extending the maturity date to May 13, 2026. In connection with the extension, Hepalink's conversion privileges have been eliminated and the interest rate has been amended from 12% to 18% per annum, commencing on May 14, 2024. The amendment is subject to execution of definitive transaction documents, customary closing conditions and receipt of all necessary approvals including approval of the Toronto Stock Exchange.\"We are very pleased with, and appreciate, the two-year extension of the debenture and the elimination of the conversion privileges, and we look forward to Hepalink's continued support,\" stated Donald McCaffrey, President & CEO of Resverlogix.About ResverlogixFounded in 2001, Resverlogix is a Calgary based late-stage biotechnology company, and a world leader in epigenetics, with the goal of developing first-in-class therapies for the benefit of patients with chronic disease.Resverlogix is developing a new class of epigenetic therapies designed to regulate the expression of disease-causing genes. We aim to improve patients' lives by restoring biological functions - altered by serious illnesses such as cardiovascular disease - back to a healthier state.The Company's clinical program is focused on evaluating the lead epigenetic candidate apabetalone for the treatment of cardiovascular disease, associated comorbidities, and post COVID-19 conditions.Resverlogix has partnered with EVERSANA™, the pioneer of next generation commercial services to the global life sciences industry, to support the rapid commercialization of apabetalone for cardiovascular disease, post COVID-19 conditions, and pulmonary arterial hypertension in Canada and the United States.Resverlogix common shares trade on the Toronto Stock Exchange (TSX: RVX).Follow us on:Twitter: @Resverlogix_RVXLinkedIn: https://www.linkedin.com/company/resverlogix-corp-/ Forward-Looking Statements:This news release may contain certain forward-loo...