TSX Exchange Symbol: RVX
CALGARY, April 21 /PRNewswire-FirstCall/ - Resverlogix Corp. ("Resverlogix" or the "Company") (TSX:RVX) announced today that 948,700 stock options due to expire April 25, 2008 will automatically be extended pursuant to the Company's stock option plan and in accordance with TSX Staff Notice 2006-0001. The Company's stock option plan provides that in the event that stock options would otherwise expire during a "blackout" trading restriction imposed by the Company under its Corporate Governance Policy, then such options shall be extended until 10 business days following the date the black out period is lifted by the Company. This is to give the option holders fair and reasonable opportunity to exercise their options.
While it is not the Company's normal policy to publicize blackout dates, given the significant number of options in question and the fact they are held by directors and senior officers of the Company, Resverlogix desired to clarify the options' status to ensure the market was not in any way misled. It is not known at this time when the blackout period will be lifted.
About Resverlogix Corp.
Resverlogix Corp. is a leading biotechnology company engaged in the development of novel therapies for important global medical markets with significant unmet needs. The NexVas(TM) program is the Company's primary focus which is to develop novel small molecules that enhance ApoA-I. These vital therapies address the grievous burden of atherosclerosis and other important diseases such as acute coronary syndrome, diabetes, Alzheimer's and other vascular disorders. The Company's secondary focus is TGF-Beta Shield(TM), a program that aims to address burgeoning grievous diseases, such as cancer and fibrosis. Resverlogix Corp. trades on the Toronto Stock Exchange (TSX:RVX). For further information please visit http://www.resverlogix.com.
This news release may contain certain forward-looking statements that reflect the current views and/or expectations of Resverlogix Corp. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly. The TSX Exchange does not accept responsibility for the adequacy or accuracy of this news release.
|SOURCE Resverlogix Corp.|
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