Resverlogix Corp.
TSX : RVX

Resverlogix Corp.

May 31, 2006 12:22 ET

ResVerlogiX Appoints Kelly B. McNeill as Chief Financial Officer

CALGARY, ALBERTA--(CCNMatthews - May 31, 2006) - ResVerlogix Corp. ("ResVerlogix") (TSX:RVX) announced today that Mr. Kelly B. McNeill has joined the company as Chief Financial Officer. Mr. McNeill will help lead the company's financial reporting and regulatory filing requirements in compliance with Canadian GAAP as well as management of corporate tax filings and strategic tax planning strategies.

"We are very pleased to add an individual that is well-experienced in corporate valuation modeling and acquisitions, financial reporting and public accounting such as Kelly to our Senior Management Team" stated Donald McCaffrey, President and CEO of ResVerlogix. "Kelly's knowledge, successful track record and previous experience in financial regulatory reporting, corporate acquisition planning will greatly help our efforts and round out our senior team in our corporate strategy to position our technologies with a leading life science organization" added Mr. McCaffrey."

Mr. McNeill's most recent role was General Manager at Haworth Ltd., a subsidiary Haworth Inc. a global multinational manufacturing company located in west Michigan. He was previous Vice President of Finance of SMED International, a global office interiors manufacturer based in Calgary, Alberta which was publicly traded on the TSX prior to its sale to Haworth Inc. in 2000. During Mr. McNeill's tenure at SMED International he was part of the team that raised $40M in equity financing in the secondary public offering on the TSX and NASDAQ. Mr. McNeill is a chartered accountant with 10 years experience in senior management positions. Mr. McNeill has a B.Comm (Hons), and M.Acc from the University of Manitoba.

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 ApoA-I the key protein of high density lipoprotein (HDL), the "good cholesterol," and other targets to treat cardiovascular diseases (CVD). The Company's second CVD research program ReVas™ is dedicated to developing novel compounds for acute based drug therapy via a medical device. 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 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 Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • ResVerlogix Corp.
    Donald J. McCaffrey
    President/CEO
    (403) 254-9252 ext. 223
    (403) 256-8495 (FAX)
    Email: don@resverlogix.com
    or
    ResVerlogix Corp.
    Kenneth Lebioda
    Vice President Business Development
    (403) 254-9252 ext. 227
    (403) 256-8495 (FAX)
    Email: ken@resverlogix.com
    Website: www.resverlogix.com