Eastern Capital Limited Announces Holdings in Resverlogix Corp.

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
AND NOT FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, Aug. 12, 2019 /CNW/ - Eastern Capital Limited ("Eastern") announced today that it exercised warrants to acquire 5,000,000 common shares of Resverlogix Corp. (the "Issuer"), at a cash price of Cdn$0.75 per share, for total consideration of Cdn$3,750,000. After giving effect to the exercise of the warrants, together with the previous expiry of warrants held by Eastern and the Issuer's treasury issuances, since the last early warning report filed by Eastern, Eastern's holdings in the Issuer have decreased by 6.71% of the outstanding common shares, and 12.25% of the outstanding common shares assuming the exercise by Eastern of all of the warrants held by it.

Prior to the exercise of these warrants, Eastern held beneficial ownership and control of 22,712,879 common shares and warrants to purchase 7,039,985 common shares, representing 11.11% of the outstanding common shares and 14.07% of the outstanding common shares assuming the exercise by Eastern of all of the warrants held by it. Following the exercise, Eastern now holds beneficial ownership and control of 27,712,879 common shares and warrants to purchase 2,039,985 common shares, representing 13.24% of the outstanding common shares and 14.07% of the outstanding common shares assuming the exercise by Eastern of all of the warrants held by it.

The common shares were acquired for investment purposes. In the future, Eastern or any of its joint actors may, subject to applicable law, acquire or dispose of securities of the Issuer depending upon a number of factors, including general market and economic conditions and other available investment opportunities.

The Issuer is located at 300, 4820 Richard Road SW, Calgary, Alberta, T3E 6L1. A copy of the early warning report with respect to the foregoing will appear on the Issuer's profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and may also be obtained by calling William Sullivan at 345.640.3330.

SOURCE Eastern Capital Limited