Resverlogix Announces Voting Results from the 2020 Meeting of Shareholders and Update on $13 Million Investment by Sheikh Abdulgader Aboud Baeshen

https://www.resverlogix.com/investors/news.html?article=687

CALGARY, Alberta, Dec. 22, 2020 (GLOBE NEWSWIRE) -- Resverlogix Corp. (“Resverlogix”, or the "Corporation") (TSX:RVX) today held its Annual and Special Meeting of Shareholders (the “Meeting”) in Calgary, Alberta.

During business proceedings at the Meeting, shareholders elected six (6) Board members until the next annual meeting. The voting results of shares represented at the Meeting for individual directors were as follows:

Resverlogix shareholders approved all resolutions outlined in the Notice of Meeting and Management Information Circular dated November 9, 2020 (the “Information Circular”). The Information Circular is available on SEDAR at www.sedar.com, and on the Resverlogix website at www.resverlogix.com.

A webcast archive of the executive presentation portion of the Meeting will be available HERE no later than 7:00 pm MT today.

$13 Million Investment by Sheikh Abdulgader Aboud Baeshen

Further to the Company’s announcement on October 6, 2020 regarding a $13 million private placement, shareholders of the Company have voted over 99% in favor of the private placement and, following discussions today, the strategic investor from Saudi Arabia, Sheikh Abdulgader Aboud Baeshen, President and CEO of Baeshen Trade, Abdulgader Baeshen Co., has confirmed completion of his due diligence, including an independent review performed by a highly-regarded international advisory firm, and his commitment to proceed with his investment.  “We are pleased with our discussions with Resverlogix and its entire team and believe in the recent Breakthrough Therapy Designation granted by the FDA; Apabetalone and its effect on cardiovascular, CKD, Alzheimer’s and COVID-19 as well as its contribution to the future of mankind,” said Sheikh Abdulgader. 

About Resverlogix

Resverlogix is developing apabetalone (RVX-208), a first-in-class, small molecule that is a selective BET (bromodomain and extra-terminal) inhibitor. Apabetalone is the first therapy of its kind to have been granted US FDA Breakthrough Therapy Designation – for a major cardiovascular indication – to help facilitate a time-efficient drug development program including planned clinical trials and plans for expediting the manufacturing development strategy.

BET inhibition is an epigenetic mechanism that can regulate disease-causing genes. Apabetalone is a BET inhibitor selective for the second bromodomain (BD2) within the BET proteins. This selective inhibition of apabetalone on BD2 produces a specific set of biological effects with potentially important benefits for patients with high-risk cardiovascular disease, diabetes mellitus, chronic kidney disease, end-stage renal disease treated with hemodialysis, neurodegenerative disease, Fabry disease, peripheral artery disease and other orphan diseases, while maintaining a well described safety profile.

Resverlogix common shares trade on the Toronto Stock Exchange (TSX:RVX).

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For further information please contact:

Investor Relations
Email: ir@resverlogix.com
Phone: 403-254-9252
Or visit our website: www.resverlogix.com