CALGARY, Alberta, Dec. 22, 2020 (GLOBE NEWSWIRE) -- Resverlogix Corp. (“Resverlogix”, or the "Corporation") (TSX:RVX) today held its Annual and Special Meeting of Shareholders (the “Meeting”) in Calgary, Alberta.
During business proceedings at the Meeting, shareholders elected six (6) Board members until the next annual meeting. The voting results of shares represented at the Meeting for individual directors were as follows:
|Votes For||Votes Withheld||Percent For||Percent Withheld|
|Donald J. McCaffrey||126,867,244||2,046,358||98.41%||1.59%|
|Siu Lun (Dicky) To||128,404,864||508,738||99.61%||0.39%|
Resverlogix shareholders approved all resolutions outlined in the Notice of Meeting and Management Information Circular dated November 9, 2020 (the “Information Circular”). The Information Circular is available on SEDAR at www.sedar.com, and on the Resverlogix website at www.resverlogix.com.
A webcast archive of the executive presentation portion of the Meeting will be available HERE no later than 7:00 pm MT today.
$13 Million Investment by Sheikh Abdulgader Aboud Baeshen
Further to the Company’s announcement on October 6, 2020 regarding a $13 million private placement, shareholders of the Company have voted over 99% in favor of the private placement and, following discussions today, the strategic investor from Saudi Arabia, Sheikh Abdulgader Aboud Baeshen, President and CEO of Baeshen Trade, Abdulgader Baeshen Co., has confirmed completion of his due diligence, including an independent review performed by a highly-regarded international advisory firm, and his commitment to proceed with his investment. “We are pleased with our discussions with Resverlogix and its entire team and believe in the recent Breakthrough Therapy Designation granted by the FDA; Apabetalone and its effect on cardiovascular, CKD, Alzheimer’s and COVID-19 as well as its contribution to the future of mankind,” said Sheikh Abdulgader.
Resverlogix is developing apabetalone (RVX-208), a first-in-class, small molecule that is a selective BET (bromodomain and extra-terminal) inhibitor. Apabetalone is the first therapy of its kind to have been granted US FDA Breakthrough Therapy Designation – for a major cardiovascular indication – to help facilitate a time-efficient drug development program including planned clinical trials and plans for expediting the manufacturing development strategy.
BET inhibition is an epigenetic mechanism that can regulate disease-causing genes. Apabetalone is a BET inhibitor selective for the second bromodomain (BD2) within the BET proteins. This selective inhibition of apabetalone on BD2 produces a specific set of biological effects with potentially important benefits for patients with high-risk cardiovascular disease, diabetes mellitus, chronic kidney disease, end-stage renal disease treated with hemodialysis, neurodegenerative disease, Fabry disease, peripheral artery disease and other orphan diseases, while maintaining a well described safety profile.
Resverlogix common shares trade on the Toronto Stock Exchange (TSX:RVX).
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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 related to the anticipated completion of a private placement and the potential role of apabetalone in the treatment of patients with high-risk cardiovascular disease, diabetes mellitus, chronic kidney disease, end-stage renal disease treated with hemodialysis, neurodegenerative disease, Fabry disease, peripheral artery disease and other orphan diseases. 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.