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Bullboard - Stock Discussion Forum Resverlogix Corp T.RVX

Alternate Symbol(s):  RVXCF

Resverlogix Corp. is a Canada-based late-stage biotechnology company. The Company is engaged in epigenetics, with a focus on developing therapies for the benefit of patients with chronic diseases. Its epigenetic therapies are designed to regulate the expression of disease-causing genes. The Company's clinical program is focused on evaluating its lead candidate apabetalone (RVX-208) for the... see more

TSX:RVX - Post Discussion

Resverlogix Corp > PP Due Diligence - November 30 2020
View:
Post by G1945V on Dec 01, 2020 6:59pm

PP Due Diligence - November 30 2020

RECAP: I have to presume the due diligence was satisfied.  
 
Approval of Private Placement of Units 
 
Background:
 
"The Corporation entered into a subscription agreement dated October 5, 2020 (the “Subscription Agreement”) with an arm’s length subscriber (the “Subscriber”) whereby the Subscriber agreed to purchase 10,560,000 units of the Corporation (“Units”), each Unit being comprised of one Common Share and one common share purchase warrant (“Warrant”), at a price of $1.25 per Unit for aggregate consideration of $13.2 million (US$10 million) (the “Private Placement”). Each Warrant will be exercisable into one Common Share at a price of $1.50 per share for a period of nine months from closing. The Common - 8 - Shares and Warrants comprising the Units will be subject to resale restrictions under applicable securities laws for a period of four months following closing. 

The Private Placement was negotiated on an arm’s length basis and is conditional upon the Subscriber being satisfied with its due diligence review of the Corporation by November 30, 2020. There is no certainty that the due diligence condition will be satisfied."  
 
G1945V
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