Resverlogix Announces $17.5 million Equity Offering

/This press release is not for dissemination in the United States or through US newswire services./

TSX Exchange Symbol: RVX

CALGARY, Nov. 23, 2011 /CNW/ - Resverlogix Corp. ("Resverlogix" or the "Company") (TSX: RVX) today announced that it has entered into a Placement Agent Agreement with MLV & Co to act as agent on a best efforts basis for a private placement to subscribers in certain jurisdictions outside Canada of up to 14,819,476 common shares at a price of $1.18 per common share for gross proceeds of up to $17.5 million. The shares will be subject to a four month hold period.

The agent has received signed subscription agreements from investors representing the proposed entire amount of the offering. Eastern Capital Limited will purchase 13,200,000 common shares of the Company pursuant to the offering which represents 17.8% of the 74,097,383 common shares outstanding after giving effect to the offering.

Resverlogix intends to use the net proceeds from the offering to fund research and development activities, general and administrative expenses, increasing working capital and for other general corporate purposes.

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

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 offering. 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 but not limited to those assumptions and risk factors discussed in our Annual Information Form and most recent MD&A which are incorporated herein by reference and other documents we file from time to time with securities regulatory authorities, which are available through SEDAR at The forward-looking statements contained in this news release are expressly qualified by this cautionary statement and are made as of the date hereof. We disclaim any intention and have 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:

Company Contacts:        
Donald J. McCaffrey      Sarah Zapotichny
President & CEO       Director of Investor Relations
Resverlogix Corp.      Resverlogix Corp.
Phone: 403-254-9252      Phone: 403-254-9252
Email:     Email:

SOURCE Resverlogix Corp.

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Resverlogix Corp.

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