/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
AND NOT FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, June 20, 2017 /CNW/ - Eastern Capital Limited ("Eastern") is pleased to announce that today it has acquired 1,617,980 units (the "Units") issued by Resverlogix Corp. ("RVX") by way of a private placement (the "Private Placement") at a price of Cdn.$1.80 per Unit, for an aggregate purchase price of Cdn.$2,912,364. Each Unit entitles Eastern to one common share (each, a "Share") of RVX plus one warrant expiring four years after the closing of the Private Placement. Each warrant entitles Eastern to purchase one Share of RVX at an exercise price of Cdn.$2.05. The Private Placement is part of a larger offering of Units by the Issuer announced on June 8, 2017, pursuant to which the Issuer will issue 5,503,802 Units for aggregate proceeds of Cdn.$10,000,000 (the "Offering").
Before giving effect to the Private Placement and the Offering, Eastern held beneficial ownership and control of 20,565,307 Shares, and warrants to acquire 8,000,237 Shares, which represented 19.46% of the Shares outstanding before giving effect to any outstanding warrants and 25.12% of the outstanding Shares assuming the exercise by Eastern of its warrants. After giving effect to the Private Placement and the Offering, Eastern holds beneficial ownership and control of 22,183,287 Shares, and warrants to acquire 9,618,217 Shares, which represents 19.95% of the Shares outstanding before giving effect to any outstanding warrants and 26.32% of the outstanding Shares assuming the exercise by Eastern of its warrants.
The Shares and warrants are acquired for investment purposes only. In the future, Eastern or any of its joint actors may, subject to applicable law, acquire or dispose of securities of RVX depending upon a number of factors, including general market and economic conditions and other available investment opportunities.
SOURCE Eastern Capital Limited
For further information: or to obtain a copy of the early warning report, please contact William Sullivan at 345.640.3330. Eastern Capital Limited, Queensgate House, 113 South Church Street, PO Box 1994, Grand Cayman, KY1-1104, Cayman Islands