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Resverlogix Announces Warrant Exercise Incentive Program

CALGARY, Alberta, Nov. 25, 2019 (GLOBE NEWSWIRE) -- Resverlogix Corp. (“Resverlogix” or the "Company") (RVX.TO) announces a warrant exercise incentive program (“Incentive Program”) designed to encourage the early exercise of 15,593,428 warrants to purchase common shares of the Company. The Incentive Program does not apply to warrants held by insiders of the Company. None of the warrants subject to the Incentive Program are listed for trading.

Pursuant to the Incentive Program, 15,593,428 common share purchase warrants, exercisable at prices ranging from $1.40 to $4.00 per share and expiring between April 12, 2020 and December 31, 2023 (the “Warrants”), will be amended to permit the exercise of the Warrants at a price of $1.33 per share commencing Tuesday, December 10, 2019 and ending at the close of business on Friday, January 10, 2020 (the “Early Exercise Expiry Date”). Following the Early Exercise Expiry Date, unexercised Warrants will remain outstanding and continue to be exercisable for common shares of the Company on their original terms.

The Company has received approval of the Incentive Program from the TSX, subject to satisfaction of customary conditions. The net proceeds from the exercise of Warrants will be used for research and development activities, general and administrative expenses, working capital needs and general corporate purposes.

https://ca.finance.yahoo.com/news/resverlogix-announces-warrant-exercise-incentive-230010562.html

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