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Resverlogix Corp
Symbol RVX
Shares Issued 269,501,296
Close 2023-06-29 C$ 0.085
Market Cap C$ 22,907,610
Recent Sedar Documents

Resverlogix to reduce warrant exercise price

2023-06-29 18:10 ET - News Release

An anonymous director reports

RESVERLOGIX ANNOUNCES WARRANT REPRICING AND ONE-YEAR EXTENSION

Certain of Resverlogix Corp.'s 27,461,157 common share purchase warrants will be amended. Commencing on July 17, 2023, the exercise price of 24,508,489 warrants (currently exercisable at prices ranging from 24 cents to $1 per share) will be reduced to 20 cents per share, and the expiry date of 10,713,505 of the warrants that currently expire between April 26, 2024, and June 6, 2025, will be extended by one year. All other terms of all the warrants will remain unchanged. One million five hundred thousand warrants held by insiders of the company will not be amended. The warrants listed for trading that expired on June 7, 2023, were not eligible for amendment.

The company has received approval of the extension and repricing from the Toronto Stock Exchange, subject to satisfaction of customary conditions. The net proceeds from the exercise of warrants will be used for research and development activities, general and administrative expenses, working capital needs, and general corporate purposes.

About Resverlogix Corp.

Founded in 2001, Resverlogix is a Calgary-based, late-stage, biotechnology company and the world leader in epigenetics, with the goal of developing first-in-class therapies for the benefit of patients with chronic disease.

Its new class of epigenetic therapies are designed to regulate the expression of disease-causing genes. The company aims 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 its lead candidate apabetalone for the treatment of cardiovascular disease and associated comorbidities, and post-COVID-19 conditions.

Resverlogix has partnered with Eversana, the pioneer of next-generation commercial services to the global life science 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 (RVX).

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