Business
Resverlogix to Raise Up To $10 Million
Resverlogix to Raise Up To $10 Million Canada NewsWire CALGARY, June 9, 2017 ...
About this update from Resverlogix Corp.
[{"type":"text","content":"\n\n\n\nResverlogix to Raise Up To $10 Million\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\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, June 9, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nCALGARY, June 9, 2017 /CNW/ - Resverlogix Corp. (\"Resverlogix\" or the \"Company\") (TSX:RVX) today announced that Bloom Burton Securities Inc. has carried out the Overnight Marketed Equity Offering announced yesterday and confirmed up to $10 million in demand for equity units, representing up to 5,555,556 units at a price of $1.80.  Each 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 4 years from the closing of the offering. The offering is to be effected in each of the Canadian provinces, other than Quebec, by way of a prospectus supplement to Resverlogix's base shelf prospectus dated October 1, 2015. Prior to the completion of the offering, Resverlogix has 105,701,543 common shares issued and outstanding.\n\nThe net proceeds of the offering will be used to fund research and development activities, including but not limited to, trial activities related to Phase 3 BETonMACE trial, Phase 2a kidney dialysis trial and Fabry disease trial, general and administrative expenses, working capital needs and other general corporate purposes.\n\nThis transaction is scheduled to close on or about June 20, 2017, subject to satisfaction of customary closing conditions, including the receipt of all necessary regulatory and stock exchange approvals. \n\nThe 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. Securitie...