Company sells 3.5 million common shares at C$0.65 per share in deal
By Devika Patel
Knoxville, Tenn., June 11 – Resverlogix Corp. said it completed a C$2.28 million private placement of stock.
The company sold 3.5 million common shares at C$0.65 apiece. The price per share reflects a 9.72% discount to the June 10 closing share price of C$0.72.
NGN BioMed Opportunity II, LP invested C$800,000.
Proceeds will be used for research and development activities, general and administrative expenses, increasing working capital and other general corporate purposes.
Based in Calgary, Alta., Resverlogix is a biotechnology company focused on therapies for cardiovascular disease.
| Issuer: | Resverlogix Corp.
|
| Issue: | Common stock
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| Amount: | C$2,275,000
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| Shares: | 3.5 million
|
| Price: | C$0.65
|
| Warrants: | No
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| Investor: | NGN BioMed Opportunity II, LP (for C$800,000)
|
| Settlement date: | June 11
|
| Stock symbol: | Toronto: RVX
|
| Stock price: | C$0.72 at close June 10
|
| Market capitalization: | C$58.03 million
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