Resverlogix (TSX:RVX) announced today it has received a 30-day extension to no later than May 14, 2018 for the TSX’s review of the Company’s compliance with all of the TSX listing requirements.

As quoted in the press release:

As previously reported, as a result of the Company’s reliance upon the financial hardship exemption in connection with the Company’s previously-announced $87 million private placement with Shenzhen Hepalink Pharmaceutical Co. Ltd., the TSX commenced an automatic remedial delisting review, which is normal practice when a listed issuer relies on this exemption. The Company anticipates further improving its financial position by raising additional capital, including closing a previously-announced US$30 million senior secured loan.

Click here to read the full press release.