Resverlogix Corp. (RVXCF)

[noretreat]

Resverlogix Closes $13.5 Million Private Placement

https://www.resverlogix.com/investors/news.html?article=621



CALGARY, Alberta, Nov. 02, 2018 (GLOBE NEWSWIRE) -- Resverlogix Corp. ("Resverlogix" or the "Company") (TSX:RVX) announced today it has closed a private placement of approximately 4.5 million equity units at a price of $3.00 per unit for gross proceeds of approximately $13.5 million (US$10.3 million). Each unit was comprised of one common share and one-half (1/2) of a common share purchase warrant. Each full warrant is exercisable at a price of $3.10 per share for a period of three years from the closing of the private placement. The units are subject to a four-month hold period.

The net proceeds of the private placement will be used to fund research and development activities, including but not limited to, clinical trial activities related to the Company’s Phase 3 BETonMACE trial, general and administrative expenses, repayment of debt, working capital needs and other general corporate purposes.

About Resverlogix

Resverlogix is developing apabetalone (RVX-208), a first-in-class, small molecule that is a selective BET (bromodomain and extra-terminal) inhibitor. BET bromodomain inhibition is an epigenetic mechanism that can regulate disease-causing genes. Apabetalone is a BET inhibitor selective for the second bromodomain (BD2) within the BET proteins. This selective inhibition of apabetalone on BD2 produces a specific set of biological effects with potentially important benefits for patients with high-risk cardiovascular disease, diabetes mellitus, chronic kidney disease, end-stage renal disease treated with hemodialysis, neurodegenerative disease, Fabry disease, peripheral artery disease and other orphan diseases, while maintaining a well described safety profile.

Resverlogix common shares trade on the Toronto Stock Exchange (TSX:RVX).

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For further information please contact:

Investor Relations

Email: [e-mail]

Phone: [phone]

Or visit our website: www.resverlogix.com