/This press release is not for dissemination in the United States or
through US newswire services./
TSX Symbol: RVX
CALGARY, Jan. 19, 2012 /CNW/ - Resverlogix Corp. ("Resverlogix" or the
"Company") (TSX:RVX) announces that it has entered into an equity
distribution agreement (the "Agreement") with JonesTrading Canada Inc.
as agent to sell up to 15 million common shares of Resverlogix ("ATM
Shares"), solely at Resverlogix's discretion, from time to time at the
market prices prevailing at the time of the sales, without discount,
during the period that the Agreement remains effective. Pursuant to the
Agreement, Resverlogix also appointed JonesTrading Institutional
Services LLC and MLV & Co LLC as US agents to sell up to an additional
10 million common shares of Resverlogix, solely at Resverlogix's
discretion, from time to time at a fixed price to subscribers in
certain jurisdictions outside Canada during the period that the
Agreement remains effective. The Agreement will remain effective until
November 2013 unless earlier terminated in accordance with its terms.
The ATM Shares will be sold by way of transactions that are
"at-the-market distributions", including sales on the Toronto Stock
Exchange ("TSX") and other existing trading markets in Canada. The
timing of any sale of ATM Shares and the number of ATM Shares sold are
at Resverlogix's discretion.
The number of ATM Shares sold shall not exceed 10% of the aggregate
market value of Resverlogix's common shares as at the last trading day
of the month before the month in which the first trade of ATM Shares is
made. The number of ATM Shares sold on any trading day shall not exceed
25% of the total trading volume of the common shares on that trading
"This arrangement provides us with a flexible and effective mechanism to
raise capital in a manner that is complementary to our other potential
sources of capital. The Agreement does not obligate us to issue shares
now or in the future, nor does it prevent us from entering into other
financing or business development arrangements," said Donald J.
McCaffrey, President and CEO of Resverlogix.
Concurrent with entering into the equity distribution agreement,
Resverlogix has cancelled the standby equity distribution agreement
announced on March 29, 2010.
Resverlogix has obtained a final receipt for a short-form base shelf
prospectus (the "Base Shelf Prospectus") with the securities
commissions in each of the provinces of Canada. Subject to securities
regulatory requirements, the Base Shelf Prospectus allows the Company
to make offerings of common shares, preferred shares, debt securities,
warrants and units comprising any combination of such securities up to
an aggregate offering price of CAD$125 million during the period until
November 2013 that the Base Shelf Prospectus remains effective. The
distribution of ATM Shares pursuant to the Agreement is qualified by
the Base Shelf Prospectus, as supplemented by a prospectus supplement,
filed on SEDAR and available electronically at www.sedar.com or on
request without charge from the Secretary of Resverlogix at Suite 202,
279 Midpark Way S.E., Calgary, Alberta, T2X 1M2 (telephone (403)
The securities described herein have not been, and will not be,
registered under the United States Securities Act of 1933, as amended (the "US 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 the Company'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. These vital therapies are focused
on addressing the burden of atherosclerosis and many other important
diseases including Acute Coronary Syndrome, Alzheimer's disease,
Peripheral Artery Disease and Autoimmune diseases. The NexVas™ PR
program is the Company's primary focus which is to develop novel small
molecules that enhance ApoA-1 production and thereby raise high density
lipoprotein (HDL). Resverlogix's common shares trade on the Toronto
Stock Exchange (TSX:RVX). For further information please visit 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 volume, timing and other
terms of any distribution of common shares pursuant to the Agreement.
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
risks including but not limited to those assumptions and risk factors
discussed in the Company's Annual Information Form and MD&A for the
interim period ended October 31, 2011 which are incorporated herein by
reference and other documents we file from time to time with securities
authorities, which 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.
For Further Information, please contact:
Donald J. McCaffrey
President and CEO
Director, Investor Relations
Phone : 403-254-9252
Email : Sarah@resverlogix.com
SOURCE Resverlogix Corp.
For further information: