Resverlogix Corp.

Resverlogix Corp.

January 07, 2005 17:40 ET

Resverlogix Corp. Completes Previously Announced $11 Million Financing


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: RESVERLOGIX CORP.

TSX VENTURE SYMBOL: RVX

JANUARY 7, 2005 - 17:40 ET

Resverlogix Corp. Completes Previously Announced $11
Million Financing

CALGARY, ALBERTA--(CCNMatthews - Jan. 7, 2005) - This news release is
not for distribution to United States newswire services or for
dissemination in the United States.

Resverlogix Corp. ("Resverlogix") (TSX VENTURE:RVX) announced today that
it has closed its previously announced bought deal financing and issued
1,027,033 common shares at $3.00 per share for aggregate gross proceeds
of $3.08 million. The bought deal is the completion of an $11 million
private placement offering with First Associates Investments Inc.
("FAII"), as lead agent, on behalf of a syndicate that also included
Haywood Securities Inc., Loewen Ondaatje McCutcheon Limited, Sprott
Securities Inc. and Jennings Capital Inc. The initial 2,639,633 common
shares were issued on November 23, 2004.

Resverlogix Corp. also announced today that it intends to proceed with
granting 200,000 stock options to an Officer of the Corporation vesting
over a 24-month period and valid for a period of four years. This
granting of the stock options remains subject to appropriate regulatory
filing and approval.

About Resverlogix Corp.

Resverlogix Corp. is a Canadian biotechnology company engaged in the
discovery and development of biopharmaceuticals. Combining expertise
with innovation, Resverlogix's lead technology NEXVAS™, applies
advanced medical research to develop therapies that increase high
density lipoprotein (HDL), the "good cholesterol," to treat
cardiovascular diseases. The Company's second technology TGF-Beta
Shield™ utilizes an adoptive immunotherapy approach to target cancers
and fibrotic diseases. Resverlogix Corp. is committed to applying the
qualities of innovation, integrity and sound business principles in
developing novel therapies for the treatment of unmet human diseases.
Resverlogix Corp. trades on the TSX Venture Exchange under the symbol
RVX. For further information, please visit our web site at:
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 Venture Exchange does
not accept responsibility for the adequacy or accuracy of this news
release.

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