Investors

Aug 12, 2013

/This press release is not for dissemination in the United States or through US newswire services./

TSX Exchange Symbol: RVX

CALGARY, Aug. 12, 2013 /CNW/ - Resverlogix Corp. ("Resverlogix" or the "Company") (TSX:RVX) today announced a private placement of 1,765,307 units (the "Units") at a price of CAD$0.90 per Unit for gross proceeds of CAD$1,588,776 (the "Private Placement"). Resverlogix has received a signed subscription agreement from Eastern Capital Limited ("Eastern") for the entire 1,765,307 Units. Each Unit is comprised of one common share of Resverlogix and 0.3 of a common share purchase warrant. Each full warrant is exercisable at a price of CAD$0.90 for a period of five years. The shares are subject to a four month hold period. Completion of the Private Placement is subject to customary closing conditions.

Before giving effect to the Private Placement, Eastern holds 13,200,000 common shares of Resverlogix, representing 17.6% of Resverlogix's issued and outstanding common shares. Eastern also holds 2,048,640 of Resverlogix's common share purchase warrants. After giving effect to the Private Placement, Eastern will hold 14,965,307 common shares of Resverlogix, representing approximately 19.4% of Resverlogix's issued and outstanding common shares. Eastern will also hold 2,578,232 common share purchase warrants of Resverlogix. Resverlogix is exempt from formal valuation and minority approval requirements of applicable securities laws on the basis that neither the fair market value of, nor the fair market value of the consideration for, the Private Placement exceeds 25% of Resverlogix's market capitalization.

Resverlogix intends to use the net proceeds from the offering to fund research and development activities, general and administrative expenses, increased working capital and for other general corporate purposes.

The securities to be issued under the offering 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 Resverlogix's securities in the United States.

About Resverlogix

Resverlogix Corp. (TSX:RVX) is a clinical stage cardiovascular company developing compounds involving a therapeutic increase in ApoA-I. Resverlogix's RVX-208 is a first-in-class small molecule for the treatment of atherosclerosis and other chronic diseases such as diabetes mellitus and Alzheimer's disease. RVX-208 is the first BET bromodomain inhibitor in clinical trials. Resverlogix's common shares trade on the Toronto Stock Exchange (TSX: RVX). For further information please visit www.resverlogix.com. We can be followed on our blog at http://www.resverlogix.com/blog.

This news release may contain certain forward-looking information as defined under applicable Canadian securities legislation, 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. In particular, this news release includes forward looking information relating to the completion and the use of proceeds of the offering. 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 assumptions and risk factors including those discussed in our Annual Information Form and most recent MD&A which are incorporated herein by reference and 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.

SOURCE: Resverlogix Corp.