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Resverlogix Corp
Symbol RVX
Shares Issued 274,512,238
Close 2024-05-13 C$ 0.06
Market Cap C$ 16,470,734
Recent Sedar Documents

Resverlogix gets 2 yr extension on $6M (U.S.) financing

2024-05-13 17:23 ET - News Release

Mr. Donald McCaffrey reports

RESVERLOGIX ANNOUNCES TWO-YEAR EXTENSION OF DEBENTURE AND ELIMINATION OF CONVERSION PRIVILEGES

Resverlogix Corp. has received a two-year extension on its $6.0-million (U.S.) secured convertible debenture with Shenzhen Hepalink Pharmaceutical Group Co. Ltd. (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 per cent to 18 per cent 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 and chief executive officer of Resverlogix.

About Resverlogix Corp.

Founded 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. 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 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.

We seek Safe Harbor.

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