Resverlogix Closes CDN $24.25M Financing


    TSX Exchange Symbol: RVX

    CALGARY, April 15 /CNW/ - Resverlogix Corp. ("Resverlogix" or "Company")
(TSX: RVX) announced today that it has completed the first tranche of the
private placement equity financing that was previously announced on April 6,
    Under the terms and conditions of the Agreement for this first tranche of
the financing Resverlogix has issued units (the "Units") to the investors,
which were led by NGN BioMed Opportunity II, L.P. (NGN), with each Unit
comprising of one common share (a "Common Share") and 0.40 of a purchase
warrant (a "Warrant") at a price of CDN $2.72 per Unit. Each whole Warrant
entitles the holder to acquire for a period of five years an additional Common
Share at a price of $2.72 per share. Resverlogix has issued 8,916,845 common
shares and 4,175,229 warrants for gross proceeds of $24.25 million. Prior to
the closing of the financing, the Company had 30,235,160 common shares of
Resverlogix outstanding.
    The securities to be issued under the offering have not been registered
under the U.S. Securities Act of 1933, as amended, and may not be offered or
sold in the United States unless registered under the Act or unless an
exemption from registration is available. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any State in which such offer,
solicitation or sale would be unlawful.
    Related to this financing NGN will have one Board seat which will be
taken by Peter Johann, Ph.D. and there is an option to access a second Board
seat under certain circumstances. Dr. Peter Johann is a Managing General
Partner of NGN Capital. He joined from Boehringer Ingelheim where he was the
Division Head of Corporate Development. His responsibilities at Boehringer
Ingelheim included strategic planning, strategic projects, M&A, business
development and licensing. Prior to this Dr. Johann served at F. Hoffmann-La
Roche as Global Business Leader where he led global business teams and was
responsible for global marketing of oncology products as well as evaluation of
pipeline products from internal and external sources.

    National Instrument 62-103 Early Warning Information Re: NGN

    In addition to the foregoing, NGN advises that as a result of its
purchase of Units under the financing it owns, directly or indirectly, an
aggregate of 3,334,163 Common Shares representing approximately 8.52% of the
total issued and outstanding Common Shares, and 1,333,665 warrants which, if
exercised in full by NGN, would result in NGN holding , directly or
indirectly, 4,667,828 Common Shares in the aggregate, representing
approximately 11.53% of the total issued and outstanding Common Shares of the
Company on a pro-forma basis. NGN purchased the Common Shares for investment
purposes. NGN may, in the future, take such actions in respect of its
shareholdings in the Company as it may deem appropriate in light of the
circumstances then existing, including (subject to any agreement with the
Company) the purchase of additional shares or other securities of the Company
through open market purchases or privately negotiated transactions, or the
sale of all or a portion of its holdings in the open market or in privately
negotiated transactions to one or more purchasers.
    NGN is a global healthcare venture capital investment firm. NGN has
investment capabilities across a broad spectrum of healthcare segments,
including drug products, medical devices, and healthcare services, with an
emphasis on later-stage opportunities. NGN has offices in New York, NY,
Heidelberg, Germany, and Greenwich, CT. More information on NGN can be found

    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 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 grievous 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 Toronto Stock Exchange (TSX:RVX). For further information
please visit

    This news release may contain certain forward-looking statements that
reflect the current views and/or expectations of Resverlogix Corp. with
respect to its performance, business and future events. Such statements are
subject to a number of risks, uncertainties and assumptions. Actual results
and events may vary significantly. The TSX Exchange does not accept
responsibility for the adequacy or accuracy of this news release.

    %SEDAR: 00019253E

For further information:

For further information: Theresa Kennedy, VP, Corporate Communications,
Resverlogix Corp., Phone: (604) 538-7072, Fax: (403) 256-8495, Email:; Donald McCaffrey, President & CEO, Resverlogix Corp.,
Phone: (403) 254-9252, Fax: (403) 256-8495, Email:

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