Business
Resverlogix Closes $10 Million of Equity Subscriptions
Resverlogix Closes $10 Million of Equity Subscriptions Canada NewsWire CALGARY, ...
About this update from Resverlogix Corp.
[{"type":"text","content":"\n\n\n\nResverlogix Closes $10 Million of Equity Subscriptions\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, June 20, 2017\n\n\n\n\n \n \n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATIONIN THE UNITED STATES/\n\n \n \n\n \n\n\nCALGARY, June 20, 2017 /CNW/ - Resverlogix Corp. (\"Resverlogix\" or the \"Company\") (TSX:RVX) today closed its previously-announced offering, issuing a total of $10 million of its equity units.\n\nEastern Capital Limited (\"Eastern\") and Shenzhen Hepalink Pharmaceutical Co., Ltd. (\"Hepalink\") purchased a total of 2,951,313 equity units at a price of $1.80 per unit for aggregate proceeds of $5.3 million pursuant to a non-brokered private placement. Eastern and Hepalink purchased 1,617,980 and 1,333,333 equity units, respectively. In addition, under the previously-announced overnight marketed equity offering conducted by Bloom Burton Securities Inc., subscribers purchased an additional 2,552,489 equity units at a price of $1.80 per unit for aggregate proceeds of an additional $4.6 million.\n\nEach equity unit consists of one common share and one common share purchase warrant. Each warrant is exercisable at a price of $2.05 per underlying common share for a period of four years from the closing of the offering. The units purchased pursuant to the overnight marketed equity offering were qualified for sale by way of a prospectus supplement dated June 13, 2017 to Resverlogix's base shelf prospectus dated October 1, 2015 (together, the \"Prospectus\"), which was filed in each of the Provinces of Canada, other than Quebec. The units purchased by Eastern and Hepalink were purchased pursuant to a private placement and are subject to a four month hold period. After the completion of the offerings, Resverlogix has 111,205,345 common shares issued and outstanding.\n\nPrior to completion of the offerings, Eastern held 20,565,307 common shares and 8,000,237 common share purchase warrants of Resverlogix which represented 19.46 percent of the common shares outstanding ...