Resverlogix Closes Equity Offering
/This press release is not for dissemination in the United States or through US newswire services./
TSX Exchange Symbol: RVX
CALGARY, Nov. 29, 2011 /CNW/ - Resverlogix Corp. ("Resverlogix" or the "Company") (TSX:RVX) today announced that it has closed its previously announced private placement to subscribers in certain jurisdictions outside Canada of 14,819,476 common shares at a price of $1.18 per common share for gross proceeds of $17.5 million. The shares are subject to a four month hold period.
Eastern Capital Limited subscribed for 13,200,000 common shares and NGN BioMed Opportunity II, LP subscribed for 1,619,476 common shares.
The securities to be issued under the offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of Resverlogix's securities in the United States.
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™ Plaque Regression program is the Company's primary focus which is to develop novel small molecules that enhance ApoA-I production. These vital therapies are focused to address the burden of atherosclerosis and other important diseases such as Acute Coronary Syndrome, Alzheimer's disease, Peripheral Artery Disease and Autoimmune diseases. Resverlogix Corp.'s common shares trade on the Toronto Stock Exchange (TSX:RVX). For further information please visit www.resverlogix.com.For further information:
| Donald J. McCaffrey |
President & CEO
| Sarah Zapotichny |
Director of Investor Relations