All of the silence has certainly benefited one group. How much lower before they pull the trigger and convert?

September 27, 2019 09:27 ET | Source:Resverlogix Corp

CALGARY, Alberta, Sept. 27, 2019 (GLOBE NEWSWIRE) -- Resverlogix Corp. (“Resverlogix” or the "Company") (TSX: RVX) today announces that it has issued a 10% secured convertible debenture in the principal amount of US$12 million (the “Debenture”) to a wholly-owned subsidiary of ORI Star Fund LP (“ORI” or the “Fund”). The Debenture bears interest at a rate of 10% per annum and matures on September 26, 2020. The Fund may elect to convert the Debenture into common shares of the Company at a conversion price equal to the lesser of CAD$2.54 per share and the 5-day volume weighted average trading price of the common shares on the date of conversion. The Company granted the Fund a security interest in all of its assets, including its patents and other intellectual property, as security for its obligations under the Debenture. In addition, the Fund received 600,000 common share purchase warrants exercisable until December 31, 2023 at a price of CAD$2.54 per share.