Resverlogix Corp. ("Resverlogix" or the "Company") (TSX:RVX) announced today that it has filed a preliminary short form prospectus with the securities regulatory authorities in the provinces of Alberta, British Columbia and Ontario in connection with a proposed marketed offering of units of the Company ("Units"), comprised of common shares and common share purchase warrants (the "Offering"). The number of Units to be distributed, the price and composition of each Unit, the minimum and maximum size of the Offering, and the exercise price and term of each warrant will be determined by negotiation between the Company and the Agent (as defined herein) in the context of the market with final terms to be determined at the time of pricing.

The Offering will be conducted on a best efforts basis by Bloom Burton Securities Inc., the Company's agent for the Offering in Canada (the "Agent"). The Units may also be offered for sale in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and applicable state laws.

The Offering is subject to the Company and the Agent entering into a definitive agency agreement, and subject to the satisfaction of customary closing conditions, including the receipt of all necessary regulatory and stock exchange approvals.

The net proceeds of the Offering will be used to fund research and development activities, including but not limited to, clinical trial activities related to the Company's Phase 3 BETonMACE trial, general and administrative expenses, working capital needs and other general corporate purposes.

For further details with respect to the Offering, please see the preliminary prospectus, a copy of which is available on SEDAR at www.sedar.com.

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 the Company's securities to, or for the account or benefit of, persons in the United States or U.S. Persons.