CALGARY, Alberta, Nov. 02, 2018 (GLOBE NEWSWIRE) -- Resverlogix Corp. ("Resverlogix" or the "Company") (TSX:RVX)
announced today it has closed a private placement of approximately 4.5 million equity units at a price of $3.00 per unit for gross
proceeds of approximately $13.5 million (US$10.3 million). Each unit was comprised of one common share and one-half (1/2) of a
common share purchase warrant. Each full warrant is exercisable at a price of $3.10 per share for a period of three years from the
closing of the private placement. The units are subject to a four-month hold period.
The net proceeds of the private placement will be used to fund research and development activities, including
but not limited to, clinical trial activities related to the Company’s Phase 3 BETonMACE trial, general and administrative
expenses, repayment of debt, working capital needs and other general corporate purposes.
About Resverlogix
Resverlogix is developing apabetalone (RVX-208), a first-in-class, small molecule that is a selective BET
(bromodomain and extra-terminal) inhibitor. BET bromodomain 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).
Follow us on Twitter: @Resverlogix_RVX
For further information please contact:
Investor Relations
Email: ir@resverlogix.com
Phone: 403-254-9252
Or visit our website: www.resverlogix.com
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 use of proceeds of the private
placement, and the potential role of apabetalone in the treatment of CVD, DM, chronic kidney disease, end-stage renal disease
treated with hemodialysis, Alzheimer's disease, Fabry disease, and 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.
