Resverlogix Corp.
TSX : RVX

Resverlogix Corp.

June 16, 2005 14:10 ET

Resverlogix Announces Normal Course Issuer Bid

CALGARY, ALBERTA--(CCNMatthews - June 16, 2005) - Resverlogix Corp. (TSX:RVX) ("Resverlogix"), announced today that the Board of Directors has authorized the company, subject to regulatory approval, to purchase for cancellation up to 250,000 common shares representing approximately one percent of the 23,436,541 currently issued and outstanding common shares as of the date hereof.

From time to time, the market prices of the common shares may not fully reflect the value of Resverlogix's business and its future business prospects. As a result, the Company believes the purchase of its common shares may represent an appropriate and desirable use of its available funds.

The normal course issuer bid will commence on or about June 24, 2005 and shall terminate on or about June 24, 2006, or such earlier date as Resverlogix may complete its purchases. The purchases will be made through the facilities of the TSX Exchange in accordance with the requirements of the TSX. The prices that Resverlogix will pay for any common shares will be the market price of the common shares at the time of acquisition. Resverlogix will make no purchases of common shares other than open market purchases. Any common shares acquired by Resverlogix will be cancelled.

During the preceding 12 months, Resverlogix has not purchased any common shares.

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 immunomodulating therapy 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 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 does not accept responsibility for the adequacy or accuracy of this news release.

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