/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
CALGARY, June 9, 2017 /CNW/ - Resverlogix Corp.
("Resverlogix" or the "Company") (TSX:RVX) today announced that
Bloom Burton Securities Inc. has carried out the Overnight Marketed
Equity Offering announced yesterday and confirmed up to
$10 million in demand for equity
units, representing up to 5,555,556 units at a price of
$1.80. Each unit consists of
one common share and one common share purchase warrant. Each
warrant is exercisable at a price of $2.05 per underlying common share for a period of
4 years from the closing of the offering. The offering is to be
effected in each of the Canadian provinces, other than Quebec, by way of a prospectus supplement to
Resverlogix's base shelf prospectus dated October 1, 2015. Prior to the completion of the
offering, Resverlogix has 105,701,543 common shares issued and
outstanding.
The net proceeds of the offering will be used to fund research
and development activities, including but not limited to, trial
activities related to Phase 3 BETonMACE trial, Phase 2a kidney
dialysis trial and Fabry disease trial, general and administrative
expenses, working capital needs and other general corporate
purposes.
This transaction is scheduled to close on or about June 20, 2017, subject to satisfaction of
customary closing conditions, including the receipt of all
necessary regulatory and stock exchange approvals.
The securities described herein 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 to, or for the account
or benefit of, persons in the United
States or to U.S. Persons (as such term is defined in
Regulation S under the U.S. Securities Act), 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 to, or for the account or benefit of, persons in
the United States or U.S.
Persons.
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 the first and only BET inhibitor selective for the
second bromodomain (BD2) within the BET protein called BRD4. 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 (CVD), diabetes
mellitus (DM), chronic kidney disease, dialysis, Alzheimer's
disease, Fabry disease, other orphan diseases, and peripheral
artery disease, while maintaining a well described safety profile.
Apabetalone is the only selective BET bromodomain inhibitor in
human clinical trials. Apabetalone is currently being studied in a
Phase 3 trial, BETonMACE, in high-risk CVD patients with type 2 DM
and low high-density lipoprotein (HDL), and is expected to be
initiated in a Phase 2a kidney dialysis trial designed to evaluate
biomarker changes and safety parameters in up to 30 patients with
end-stage renal disease treated with hemodialysis.
Resverlogix common shares trade on the Toronto Stock Exchange
(TSX:RVX).
Follow us on Twitter:
@Resverlogix_RVX (https://twitter.com/resverlogix_rvx), or on
our blog at http://www.resverlogix.com/blog
For further information please contact:
Investor Relations
Email: ir@resverlogix.com
Phone: 403-254-9252
Or visit our website: 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 completion of the offering, the use of
net proceeds from the offering, and the potential role of
apabetalone in the treatment of CVD, DM, chronic kidney disease,
end-stage renal disease treated with hemodialysis, Alzheimer's
disease, Fabry disease, and Orphan diseases. 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 those
discussed in our Annual Information Form and most recent MD&A
which are incorporated herein by reference and 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.
SOURCE Resverlogix Corp.