It doesn’t matter much but this is how the transaction from RVX spinout to ZCC happened.

In June 2013, the assets of RVX that are now owned by ZEL (which is in turn owned by ZCC) were within RVX Therapeutics (which was owned by Resverlogix Corp.) which was spun out. During this transaction, the name of RVX Therapeutics was changed to Zenith Epigenetics Corp. At this point, we received our spinout shares and Zenith Epigenetics Corp. received the Royalty Preferred Shares. The RPSs were for 6 – 12% of the “Net Apo Revenue” received by Resverlogix Corp. In Dec. 2016 this was amended to include “Net Revenue Earned” from any pharmaceutical product that RVX held the intellectual property right to.

In August 2016, the name Zenith Epigenetics Corp. was changed to Zenith Capital Corp. They even had us vote on this name change at the AGM so probably safe to say they would put a sale to our vote. This re-organization put the RPSs in ZCC and placed all of the operating assets into ZCC’s wholly owned subsidiary named Zenith Epigenetics Ltd. Our share ownership went from Zenith Epigenetics Corp. to Zenith Capital Corp. as it was the same company with just a name change. As ZCC share owners, we collectively own the RPSs and proportionately as per our share percentage own the value of those RPSs. As ZCC share owners, we collectively own the assets of ZEL and proportionately as per our share percentage own the value of the ZEL assets. The quote below is from the August 2016 news release.

“As Zenith Capital Corp. owns all of the securities of Zenith Epigenetics Ltd., there is no immediate change in the ultimate beneficial ownership of the operating assets.”