Resverlogix Corp.

Resverlogix Corp.

August 11, 2006 09:30 ET

ResVerlogiX Announces Normal Course Issuer Bid

CALGARY, ALBERTA--(CCNMatthews - Aug. 11, 2006) - Resverlogix Corp. ("Resverlogix" or the "Company") (TSX:RVX), announced today that the Board of Directors has authorized the Company, subject to regulatory approval, to purchase for cancellation up to 150,000 common shares representing less than one percent of the 24,151,231 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 August 14, 2006 and shall terminate on or about August 13, 2007, or such earlier date as Resverlogix may complete its purchases. The purchases will be made through the facilities of the TSX 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. The Company will make no purchases of common shares other than open market purchases. Any common shares acquired by the Company will be cancelled.

During the preceding 12 months, Resverlogix has purchased 163,400 common shares at an average price of $6.09 per share as part of a Normal Course Issuer Bid that expired on June 23, 2006.

About Resverlogix

Resverlogix Corp. is a leading biotechnology company in the development of novel therapies for important global medical markets with significant unmet medical needs. The Company's primary focus is to conduct leading research, development and commercialization of novel therapeutics that address the risk of Cardiovascular Disease (CVD). Through successful research efforts, the Company has expanded its CVD platform to three programs, each addressing different targets for specific commercial markets. NexVas™ Plaque Reduction (NexVas PR), is the Company's primary program that targets ApoA-I enhancement via novel small molecules for plaque stabilization and regression. NexVas™ Vascular Inflammation (NexVas VI), the Company's second CVD program, is a discovery stage technology focused on molecular targets of vascular inflammation. ReVas™ the Company's third CVD program, is dedicated to the research and development of therapeutic compounds to be used with medical devices and biomaterials for the local non-systemic treatment of CVD, in particular restenosis. The Company has partnered ReVas™ with Medtronic Inc., a world leading medical technology company. The Company's secondary focus is TGF-ß Shield™, a program that aims to address the unmet medical need of grievous diseases, such as cancer and fibrosis, with a TGF- ß inhibitor. Resverlogix 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 Toronto Stock Exchange (TSX:RVX). For further information, please visit our web site at

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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