Financial News
Shenzhen Hepalink Pharmaceutical Group Co., Ltd. Acquires Additional Securities of Resverlogix Corp.
Calgary, Alberta--(Newsfile Corp. - May 21, 2021) - Shenzhen Hepalink Pharmaceutical Group Co., Ltd. ("Hepalink") announces that on May 13, 2021, it acquired 10% secured convertible debentures due May 13, 2022, of Resverlogix Corp. (TSX: RVX) (OTC Pink: RVXCF) (the "Company") in the principal amount of US$6 million and 300,000 common share purchase warrants of the Company by way of a private placement (the "Private Placement") for a purchase price of US$6 million (Cdn$7.4 million).
The principal amount of the convertible debentures and accrued and unpaid interest thereon is convertible into common shares of the Company at a conversion price equal to the lesser of CDN$0.93 per share, and the 5-day volume weighted average trading price of the common shares on the date of conversion. Each Warrant entitles the holder to purchase one common share at an exercise price of CDN$0.93 for a term of four years.
Prior to completion of the Private Placement, Hepalink held 85,286,524 common shares and 11,466,619 common share purchase warrants of the Company, which represented 35.72% of common shares outstanding before giving effect to any outstanding warrants, and 38.67% of the outstanding common shares assuming the exercise by Hepalink of its warrants. After giving effect to the Private Placement, Hepalink held 85,286,524 common shares, 11,766,619 common share purchase warrants and US$6,000,000 principal amount of convertible debentures, which represents 35.72% of the common shares outstanding before giving effect to any outstanding warrants and convertible debentures, and 40.62% of the outstanding common shares assuming the exercise by Hepalink of its warrants and the conversion of the principal amount of the convertible debentures at a price of CDN$0.93 per share.
The convertible debentures and warrants were acquired for investment purposes. In the future, Hepalink or any of its joint actors may, subject to applicable law, acquire or dispose of securities of the Company depending upon a number of factors, including, but not limited to, general market and economic conditions and other available investment opportunities.
For further information or to obtain a copy of the early warning report, please contact Bu Haihua at 86-755-2698 0311.
Shenzhen Hepalink Pharmaceutical Group Co., Ltd.
21 Langshan Road, Songpingshan
Nanshan District, Shenzhen, 518057
People's Republic of China
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84860
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.