Resverlogix's Board Approves Arrangement to Spin-Out RVX Therapeutics Inc. and Confirms Special Meeting of Shareholders

About this update from Resverlogix Corp.

[{"type":"text","content":"\n\n\n\n\n\nTSX Exchange Symbol: RVX\n\n\nCALGARY, May 1, 2013 /CNW/ - Resverlogix Corp. (TSX:RVX) (\"Resverlogix\")\n today announced that its Board of Directors has unanimously approved\n the previously announced Plan of Arrangement (\"the Arrangement\") to\n spin-out its subsidiary RVX Therapeutics Inc. (\"RVX Therapeutics\").\n Resverlogix has entered into an Arrangement Agreement with RVX\n Therapeutics and 1741273 Alberta Ltd., a newly-incorporated company\n (\"Spinco\"), which provides for, among other things, the acquisition of\n RVX Therapeutics by Spinco. Upon completion of the Arrangement,\n Resverlogix shareholders will own one common share of Resverlogix and\n will receive one common share of Spinco for each Resverlogix common\n share held immediately prior to the Arrangement becoming effective.\n\n\nThe Arrangement is subject to customary conditions for a transaction of\n this nature, which include court and regulatory approvals, including\n TSX acceptance of the Arrangement and the approval of at least 66.67%\n of the votes cast by the Resverlogix shareholders present in-person or\n by proxy at the special meeting of the shareholders of Resverlogix\n (\"the Meeting\"). The Meeting will commence at 11 a.m. MDT, May 28,\n 2013, at the Hyatt Regency Calgary hotel, Imperial Ballroom (1/2/3) at\n 700 Center Street SE in Calgary, Alberta.\n\n\nA management information circular containing a complete description of\n the Arrangement has been sent to these shareholders in connection with\n the special meeting to approve the Arrangement. The information\n circular has also been filed on SEDAR.\n\n\nResverlogix shareholders of record on April 25, 2013 will be entitled to\n vote at the Meeting. Subject to all necessary approvals being obtained,\n it is anticipated that the Arrangement will become effective on or\n about June 3, 2013. The Toronto Stock Exchange has determined that the\n Due Bill trading procedure will be used in connection with the\n distribution of the common shares of Spinco to Resverlogix shareholders\n pursuant to the Arrangement. Please refer to the information circular\n for further information. Resverlogix anticipates issuing a press\n release setting forth the relevant dates for the Due Bill trading\n procedure.\n\n\nPursuant to the Arrangement, Spinco will also be issued royalty\n preferred shares in ...

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