Resverlogix redeems debentures

Resverlogix (TSX:RVX) has completed the previously announced redemption of all outstanding convertible notes 2.5 years ahead to maturity.

In a statement, the company said a total of $6,728,000 (U.S.) of convertible debt, due June 6, 2012, has been redeemed.

The redemption follows moves in December for a $5-million (Canadian) equity private placement and a standby equity distribution agreement to sell up to $25-million of common stock to YA Global Master SPV, a fund managed by Yorkville Advisors.