Resverlogix Closes $2.8 Million Shares-for-Interest Private Placement

Company Overview - Resverlogix Corp. is a Calgary-based late-stage biotechnology company founded in 2001, specializing in epigenetics and aiming to develop first-in-class therapies for chronic diseases [4]. - The company is focused on creating a new class of epigenetic therapies to regulate the expression of disease-causing genes, particularly targeting cardiovascular disease and post COVID-19 conditions [5]. Recent Financial Activity - Resverlogix announced the completion of a $2.8 million shares-for-interest private placement, where an immediate family member of the Chairman and CEO subscribed for 28,000,000 common shares at CAD$0.10 per share [1][2]. - Following this transaction, the Subscriber holds approximately 9.7% of Resverlogix's common shares, which are subject to a four-month hold period [2]. Debt Settlement - The shares-for-interest transaction was executed after the settlement of CAD$2.8 million of accrued interest owed to the Subscriber by Zenith Capital Corp., which was assigned to the Subscriber from Resverlogix's debt to Zenith [2]. Market Information - Resverlogix's common shares are traded on the Toronto Stock Exchange under the ticker symbol RVX [6].