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Resverlogix (TSX:RVX) announced today that it intends to pursue a listing of its common shares in the United States. Accordingly, if necessary in order to comply with stock exchange minimum share price requirements and in connection with any future equity financing associated therewith, the Company intends to request shareholder approval for a consolidation of the …
Resverlogix (TSX:RVX) announced today that it intends to pursue a listing of its common shares in the United States. Accordingly, if necessary in order to comply with stock exchange minimum share price requirements and in connection with any future equity financing associated therewith, the Company intends to request shareholder approval for a consolidation of the Company’s common shares at an annual and special meeting of shareholders of the Company (the “Meeting”) to be held on September 12, 2018.
As quoted in the press release:
If approved by shareholders, the Board will have the discretion to proceed with the share consolidation for a period of 12 months following the Meeting. The Company’s common shares and warrants would continue to be listed on the Toronto Stock Exchange.
Resverlogix has engaged Rothschild & Co. as its financial advisor to evaluate a potential U.S. listing.
Listing will be subject to the Company satisfying all applicable stock exchange and U.S. securities law requirements. As in such cases, there is no assurance that the Company will be able to do so.
Further information regarding the Meeting and the share consolidation will be available in a notice of meeting and management information circular to be filed and mailed to all shareholders of the Company in advance of the Meeting.