Resverlogix Corp. (“Resverlogix”) (TSX:RVX) is pleased to announce that on January 4, 2007 it sold and issued to certain institutional investors, in the aggregate, approximately US $17 million of senior secured convertible promissory notes due January 4, 2010 (the “Notes”) and accompanying warrants to purchase, in the aggregate, approximately 408,647 common shares of Resverlogix (the “Warrants”). The Notes initially have an 8% interest rate payable semi-annually in arrears and are convertible into approximately 1.63 million common shares of Resverlogix at a conversion price of CAD $12.07 per share, subject to certain adjustments. The Notes are convertible any time at the option of the note holders or, subject to certain conditions set forth in the Notes, by Resverlogix. The Warrants have an exercise price of CAD $15.09 per share, subject to certain adjustments. Oppenheimer & Co. Inc. acted as placement agent and Caris & co acted as co-agent for the offering.
