Resverlogix closes additional financing

Resverlogix (TSX:RVX) has completed an $8-million second tranche of its private placement announced in December, bringing the total proceeds of the equity financing to $13-million.

In a statement, the company said it issued units at a price of $2.50 apiece, with each unit consisting of one common share and one-quarter of a warrant. Each full warrant has an exercise price of $2.50 and expires on Dec. 18, 2011.

Prior to closing of the second tranche, there were 41,418,139 common shares of Resverlogix outstanding. The $8-million private placement will result in the issuance of 3,189,250 common shares, with a further 797,313 common shares reserved under the warrants.