Resverlogix Corp. closed its private placement of 60,416,667 equity units to Shenzhen Hepalink Pharmaceutical Group Co. Ltd. priced at C$1.44 per unit for gross proceeds of C$87 million.

Each unit comprises 1 common share and 0.082759 of a common share purchase warrant. Each full warrant will be exercisable at a price of C$1.64 per share for a period of four years from the offering's closing.

The company plans to use the net proceeds to repay its C$68.8 million secured loan, which matures Dec. 26.