Resverlogix Corp. Announces Issuance of MCTO by ASC
Rhea-AI Summary
Resverlogix (OTC:RVXCF) announced the Alberta Securities Commission issued a management cease trade order (MCTO) after the company missed the March 31, 2026 filing deadline for its 2025 annual audited financial statements, AIF, and MD&A.
The MCTO bars the CEO and CFO from trading until the Annual Filings are filed and the order is revoked or varied; public trading of listed common shares continues. The company and its auditor expect to complete the audit by April 10, 2026 but cannot assure timing.
Positive
- Public trading of listed common shares remains unrestricted
- Company confirms it is not in insolvency proceedings
- Company and auditor are actively working to complete filings and expect them by April 10, 2026
- Company will follow NP 12-203 alternative disclosure guidelines while in default
Negative
- MCTO prohibits CEO and CFO from trading company securities until revocation or filings complete
- Company defaulted on March 31, 2026 deadline to file 2025 Annual Filings
- Management and insiders remain subject to an insider trading blackout until filings are made
News Market Reaction – RVXCF
In the Apr 2 session, RVXCF gained 0.51%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Calgary, Alberta--(Newsfile Corp. - April 2, 2026) - Resverlogix Corp. (TSX: RVX) ("Resverlogix" or the "Company") today announces the issuance of a management cease trade order ("MCTO") by the Alberta Securities Commission (the "ASC") under National Policy 12-203 - Management Cease Trade Orders ("NP 12-203"), following an application made by the Company, and first announced on March 17, 2026 (the "Original Announcement"). The MCTO relates to Resverlogix's default on the prescribed deadline of March 31, 2026 (the "Default") for filing its annual audited financial statements, annual information form, and management discussion & analysis for the year ended December 31, 2025, as required by section 4.2 of National Instrument 51-102 - Continuous Disclosure Obligations ("NI 51-102") and certification of the annual filings (collectively, the "Annual Filings").
The MCTO prohibits the Company's Chief Executive Officer and Chief Financial Officer from all trading in the securities of the Company until the MCTO is revoked or varied or until two full business days after the Annual Filings are filed. The general investing public will continue to be able to trade freely in the Company's listed common shares during the term the MCTO is in effect.
For additional details as to why the Annual Filings were not filed prior to the deadline, please refer to the Original Announcement, as well as the status update release on March 31, 2026. The Company and its external auditor continue to work diligently to complete the Annual Filings as soon as possible. The Company expects, but cannot assure, that the audit and the Annual Filings will be completed by April 10, 2026, and will issue a news release once the Annual Filings have been filed.
The Company has confirmed that it intends to satisfy the provisions of the alternative information guidelines described in NP 12-203 for so long as it remains in default for failure to file the Annual Filings. Further, the Company confirms that the Company is not subject to any insolvency proceedings at the time of this news release, and that since the date of the Original Announcement other than as described above, there has been no material change to the information set out in the Original Announcement that has not been generally disclosed.
Until the Company has filed the Annual Filings, members of the Company's management and other insiders are subject to an insider trading black-out.
About Resverlogix
Founded in 2001, Resverlogix is a Calgary based late-stage biotechnology company, and a world leader in epigenetics, with the goal of developing first-in-class therapies for the benefit of patients with chronic disease.
Resverlogix is developing a new class of epigenetic therapies designed to regulate the expression of disease-causing genes. We aim to improve patients' lives by restoring biological functions - altered by serious illnesses such as cardiovascular disease - back to a healthier state.
The Company's clinical program is focused on evaluating the lead epigenetic candidate apabetalone for the treatment of cardiovascular disease, associated comorbidities, and post COVID-19 conditions.
Resverlogix common shares trade on the Toronto Stock Exchange (TSX: RVX).
Follow us on:
- X.com: @Resverlogix_RVX
- LinkedIn: linkedin.com/company/resverlogix-corp-/
Forward-Looking Statements:
This news release may contain certain forward-looking information as defined under applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts", and other similar expressions. In particular, this news release includes forward-looking information related to the potential role of apabetalone in the treatment of patients with cardiovascular disease, post COVID-19 conditions, pulmonary arterial hypertension, associated comorbidities, and other chronic diseases. Our actual results, events or developments could be materially different from those expressed or implied by these forward-looking statements. We can give no assurance that any of the events or expectations will occur or be realized. By their nature, forward-looking statements are subject to numerous assumptions and risk factors including those discussed in our Annual Information Form and most recent MD&A which are incorporated herein by reference and are available through SEDAR at www.sedarplus.ca. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information please contact:
Investor Relations
Email: ir@resverlogix.com
Phone: 403-254-9252
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290979