Shenzhen Hepalink triples stake in Resverlogix

Resverlogix Corp. (TSX:RVX) said Chinese API distributor Shenzhen Hepalink Pharmaceutical Co. Ltd. (SZSE:002399) invested C$87 ($69.7 million) in a private placement through the issue of 60.4 million units at C$1.44. Each unit consists of a common share and a warrant to purchase about 0.08 of a share.

Prior to the placement, Hepalink held a 13% equity stake in Resverlogix. Assuming exercise of existing warrants, it would have held a 14% stake. The new offering gives Hepalink a 43% stake in Resverlogix based on outstanding shares; its stake would increase to 45% assuming exercise of the warrants...