Jun 2, 2011
/This press release is not for dissemination in the United States or through US newswire services./
TSX Symbol: RVX
CALGARY, June 2, 2011 /CNW/ - Resverlogix Corp. ("Resverlogix" or the "Company") (TSX:RVX) announced today that it has undertaken an overnight marketed offering of units, each unit being comprised of one common share and a portion of a common share purchase warrant. The offering is being co-led by Bloom Burton & Co. and Canaccord Genuity Corp. with Wedbush PacGrow Life Sciences acting as financial advisor in certain jurisdictions outside Canada where it is qualified to carry on business. The offering is to be effected in each of the Canadian provinces of British Columbia, Alberta and Ontario by way of a prospectus supplement to Resverlogix's base shelf prospectus dated April 20, 2010. Prior to the offering, Resverlogix had 52,277,907 common shares issued and outstanding. The number of units to be distributed, the price of each unit and the exercise price of each whole common share purchase warrant will be determined in context of the market.
This transaction is scheduled to close on or about June 14, 2011, subject to satisfaction of customary closing conditions, including the receipt of all necessary regulatory and stock exchange approvals.
The 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 within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities in the United States.
About Resverlogix Corp.
Resverlogix Corp. is a leading biotechnology company engaged in the development of novel therapies for important global medical markets with significant unmet medical needs. The NexVas PR program is the Company's primary focus which is to develop novel small molecules that enhance ApoA-I. These vital therapies address the burden of atherosclerosis and other important diseases such as Acute Coronary Syndrome, Diabetes, Alzheimer's disease, Peripheral Artery Disease and other vascular disorders. Resverlogix Corp.'s common shares trade on the Toronto Stock Exchange (TSX:RVX). For further information please visit www.resverlogix.com.
This news release may contain certain forward-looking information as defined under applicable Canadian securities legislation, including our statements with respect to, the current and/or future financings and statements contained herein that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Our actual results, events or developments could be materially different from those expressed or implied by these forward-looking statements. We can give no assurance that any of the events or expectations will occur or be realized. By their nature, forward-looking statements are subject to numerous known and unknown risks and uncertainties including but not limited to those risk factors discussed in the Company's Annual Information Form and January 31, 2011 MD&A which are incorporated herein by reference and other documents we file from time to time with securities authorities, which are available through SEDAR at www.sedar.com. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The TSX Exchange does not accept responsibility for the adequacy or accuracy of this news release.
Donald J. McCaffrey
President and CEO
Resverlogix Corp.
Phone: 403-690-8887
Email: Don@resverlogix.com