Resverlogix Announces Two-Year Extension of Debenture and Elimination of Conversion Privileges

May 13, 2024 5:00 PM EDT | Source: Resverlogix Corp.

Calgary, Alberta--(Newsfile Corp. - May 13, 2024) - Resverlogix Corp. (TSX: RVX) ("Resverlogix" or the "Company") announced today a two-year extension of the Company's US$6.0 million secured convertible debenture with Shenzhen Hepalink Pharmaceutical Group Co., Ltd. ("Hepalink") (and payment of accrued interest thereon), extending the maturity date to May 13, 2026. In connection with the extension, Hepalink's conversion privileges have been eliminated and the interest rate has been amended from 12% to 18% per annum, commencing on May 14, 2024. The amendment is subject to execution of definitive transaction documents, customary closing conditions and receipt of all necessary approvals including approval of the Toronto Stock Exchange.

"We are very pleased with, and appreciate, the two-year extension of the debenture and the elimination of the conversion privileges, and we look forward to Hepalink's continued support," stated Donald McCaffrey, President & CEO of Resverlogix.

About Resverlogix

Founded in 2001, Resverlogix is a Calgary based late-stage biotechnology company, and a world leader in epigenetics, with the goal of developing first-in-class therapies for the benefit of patients with chronic disease.

Resverlogix is developing a new class of epigenetic therapies designed to regulate the expression of disease-causing genes. We aim to improve patients' lives by restoring biological functions - altered by serious illnesses such as cardiovascular disease - back to a healthier state.

The Company's clinical program is focused on evaluating the lead epigenetic candidate apabetalone for the treatment of cardiovascular disease, associated comorbidities, and post COVID-19 conditions.

Resverlogix has partnered with EVERSANA™, the pioneer of next generation commercial services to the global life sciences industry, to support the rapid commercialization of apabetalone for cardiovascular disease, post COVID-19 conditions, and pulmonary arterial hypertension in Canada and the United States.

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

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Forward-Looking Statements:

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 related to the amendment of Resverlogix's debenture and the potential role of apabetalone in the treatment of patients with cardiovascular disease, post COVID-19 conditions, pulmonary arterial hypertension, associated comorbidities, and other chronic 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 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.

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