Resverlogix Provides Update Regarding Two-Year Extension of Debenture and Elimination of Conversion Privileges

Calgary, Alberta--(Newsfile Corp. - July 16, 2024) - Resverlogix Corp. (TSX: RVX) ("Resverlogix" or the "Company") announced it has entered into definitive transaction documents for the two-year extension of the Company's US$6.0 million secured convertible debenture (the "Debenture") with Shenzhen Hepalink Pharmaceutical Group Co., Ltd. ("Hepalink") (and payment of accrued interest thereon), extending the maturity date to May 13, 2026. As previously announced, in connection with the extension, Hepalink's conversion privileges have been eliminated and the interest rate has been amended from 12% to 18% per annum, commencing on May 14, 2024. The amendments to the Debenture also require Resverlogix to provide additional reporting to Hepalink and continue normal business operations. The amendment is subject to customary closing conditions and approval of the Toronto Stock Exchange and shareholders of Resverlogix, in accordance with TSX requirements. Hepalink agreed to forbear from enforcing the Debenture provided that, among other conditions, shareholder approval for the amendments to the Debenture is obtained. Shareholders will be asked to approve the amendments to the Debenture at Resverlogix's annual and special meeting of shareholders on July 31, 2024.

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