Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.


Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?


Please Try Again {{ error }}

Send my password

An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Resverlogix Closes $50 Million Private Placement With Hepalink and Eastern Capital


TSX Exchange Symbol: RVX

CALGARY, July 21, 2015 /CNW/ - Resverlogix Corp. ("Resverlogix") (TSX:RVX) announced today that it has closed the previously-announced private placement with Shenzhen Hepalink Pharmaceutical Co., Ltd. ("Hepalink") and Eastern Capital Limited ("Eastern").  

Under the terms of the transaction, Hepalink subscribed for 13,270,000 units, each unit ("Unit") being comprised of one (1) common share and 0.075358 common share purchase warrants, for aggregate proceeds of approximately CAD$35 million, or CAD$2.67 per Unit. Each whole warrant is exercisable into one common share at CAD$2.67 per share for a period of five years. After giving effect to the transaction, Hepalink holds approximately 12.63% of Resverlogix's common shares. The common shares and warrants issued to Hepalink are subject to a three year lock-up period. Hepalink is also entitled to nominate one mutually agreed representative for election to the board of directors of Resverlogix.

In addition, Eastern subscribed for 5,600,000 Units for aggregate consideration of approximately CAD$15 million, or CAD$2.67 per Unit.  After giving effect to the transaction, Eastern holds approximately 19.57% of Resverlogix's common shares.

About Resverlogix

Resverlogix Corp. is developing RVX-208, a first-in-class, small molecule selective BET bromodomain inhibitor for the potential treatment of patients with cardiovascular disease, diabetes mellitus, Alzheimer's disease, peripheral artery disease, and chronic kidney disease. RVX-208 is the only selective BET bromodomain inhibitor in clinical trials. Resverlogix's common shares trade on the Toronto Stock Exchange (TSX: RVX). For further information please visit We can be followed on our blog at and via  Twitter @Resverlogix_RVX.

Company Contacts:

Donald J. McCaffrey
President and CEO
Resverlogix Corp. 
Phone: 403-254-9252

SOURCE Resverlogix Corp.

Copyright CNW Group 2015