Resverlogix Enters CAD $25 Million Standby Equity Agreement Term Sheet
/THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN THE
To augment funding for upcoming ApoA-I clinical trials
TSX Exchange Symbol: RVX
Under the SEDA, Resverlogix would be able to sell, and YA would be obligated to buy, up to CAD
The final SEDA will also be subject to certain conditions precedent, including receipt of exemptive relief from applicable Canadian securities regulators, from certain requirements of applicable Canadian securities laws, the filing of a base shelf prospectus with applicable Canadian securities regulators and the approval of the
"We have entered a period of increased activity in our ApoA-I programs. This agreement will provide Resverlogix with the flexibility to draw strategic amounts of capital at its discretion, thus placing the Company in a more comfortable position for pursuing our development plans," said Donald J. McCaffrey, President and CEO of Resverlogix.
RVX-208, a novel small molecule therapeutic that facilitates endogenous ApoA-I production, is positioned to be one of the most promising emerging drugs in the treatment of atherosclerosis. To the Company's knowledge RVX-208 is the only novel small molecule that is specifically designed to increase ApoA-I production and thereby raise HDL levels thus enhancing HDL functionality to augment reverse cholesterol transport (RCT). RCT is a pathway by which accumulated cholesterol is transported from the arterial wall to the liver for excretion, thus preventing atherosclerosis.
About Resverlogix Corp.
Resverlogix Corp. is a leading biotechnology company engaged in the development of novel therapies for important global medical markets with significant unmet medical needs. The NexVas(TM) PR program is the Company's primary focus which is to develop novel small molecules that enhance ApoA-I. These vital therapies address the burden of atherosclerosis and other important diseases such as Acute Coronary Syndrome, Diabetes, Alzheimer's disease, Peripheral Artery Disease and other vascular disorders. Resverlogix Corp. trades on the
This news release may contain certain forward-looking statements as defined under applicable Canadian securities legislation, including our statements with respect to the SEDA, vision to be a leader in the research, development and commercialization of novel therapeutics that reduce the risk of cardiovascular disease including atherosclerosis, diabetes, Alzheimer's disease, Peripheral Artery Disease and other vascular diseases. These forward-looking statements contained herein 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. 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 known and unknown risks and uncertainties including but not limited to those associated with the success of research and development programs, clinical trial programs including possible delays in patient recruitment, the regulatory approval process, competition, securing and maintaining corporate alliances, market acceptance of the Company's products, the availability of government and insurance reimbursements for the Company's products, the strength of intellectual property, financing capability, the potential dilutive effects of any financing, reliance on subcontractors and key personnel and additional risk factors discussed in other documents we file from time to time with securities authorities, which are available through SEDAR at www.sedar.com. Additionally, risks and uncertainties are discussed in detail on page 22 of the
%SEDAR: 00019253EFor further information: Theresa Kennedy, VP, Corporate Communications, Resverlogix Corp., Phone: (403) 254-9252, Fax: (403) 256-8495, Email: Theresa@resverlogix.com; Sarah Zapotichny, Manager, Investor Relations, Resverlogix Corp., Phone: (403) 254-9252, Fax: (403) 256-8495, Email: Sarah@resverlogix.com; US Investor Relations: Susan Noonan, Managing Partner, S.A. Noonan Communications, LLC, Phone: (212) 966-3650, Email: firstname.lastname@example.org; US Media Relations: Eric Goldman, Vice President, Rx Communications Group, Phone: (917) 322-2563, Email: email@example.com