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

Resverlogix Corp. (TSX: RVX,OTC:RVXCF) ("Resverlogix") announced today that it has closed a $2.8 million shares-for-interest private placement with an immediate family member (the "Subscriber") of Resverlogix's Chairman and CEO.

Under the terms of the shares-for-interest transaction, the Subscriber subscribed for 28,000,000 common shares at CAD$0.10 per share for aggregate proceeds of CAD$2.8 million. After giving effect to the transaction, the Subscriber holds approximately 9.7% of Resverlogix's common shares. The common shares are subject to a four-month hold period. The shares-for-interest transaction followed the settlement of CAD$2.8 million of accrued interest on indebtedness owing to the Subscriber by Zenith Capital Corp. ("Zenith") by way of the assignment to the Subscriber of an equal amount of accrued interest on indebtedness owing by Resverlogix to Zenith Capital Corp.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold to, or for the account or benefit of, persons in the United States or to U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act), except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of Resverlogix's securities to, or for the account or benefit of, persons in the United States or U.S. Persons.

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 common shares trade on the Toronto Stock Exchange (TSX: RVX,OTC:RVXCF).

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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 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 www.sedarplus.ca. 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.

www.Resverlogix.com

THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH US NEWSWIRE SERVICES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284438