Resverlogix Corp. Provides Bi-Weekly MCTO Status Update

Rhea-AI Summary

Resverlogix (OTC: RVXCF) provided a bi-weekly update on its MCTO application with the Alberta Securities Commission after missing the March 31, 2026 filing deadline for its annual audited financial statements and related filings.

The company attributes the Default to initial audit start delays, says it is working with its auditor, and expects completion by April 10, 2026 but offers no assurance. CEO/CFO trading would be restricted if an MCTO is granted; public trading would continue.

Positive

• Company filed an MCTO application with the Alberta Securities Commission
• Company and auditor assigned additional resources to expedite completion
• Public trading in common shares will continue during an MCTO

Negative

• Default on annual audited financial statements and related filings as of March 31, 2026
• CEO and CFO may be prohibited from trading if an MCTO is granted
• ASC could instead impose an issuer cease trade order

Calgary, Alberta--(Newsfile Corp. - March 31, 2026) - Resverlogix Corp. (TSX: RVX) ("Resverlogix" or the "Company") is providing an update on the management cease trade order ("MCTO") application it made to the Alberta Securities Commission (the "ASC") under National Policy 12-203 - Management Cease Trade Orders ("NP 12-203"). The application remains under review, and no decision has yet been made by the ASC. The Company announced on March 17, 2026 (the "Original Announcement") that it had been advised by its external auditor (the "Auditor") that the Auditor anticipated being unable to complete its audit of the ‎annual financial statements by March 31, 2026. Consequently, Resverlogix will 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 Default resulted from unavoidable delays on the part of the Company in beginning the audit process. The Company worked with the Auditor to overcome these initial delays and assign additional resources to the audit. The Company and the 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 ASC may grant the application and issue the MCTO or it may impose an issuer cease trade order. Should the MCTO be granted, the Company's Chief Executive Officer and Chief Financial Officer will be prohibited from all trading in the securities of the Company until such time as the Annual Filings are filed and 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.

The Company confirms 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. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 including the issuance of bi-weekly default status reports, in the form of news releases, for so long as the Company remains in default with the Annual Filings; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Annual Filings; (iii) the Company confirms that, as of the date of this news release, that the Company is not subject to any insolvency proceedings; and (iv) there is no other material information concerning the affairs of the Company 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: https://www.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

www.resverlogix.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290794

FAQ

Why did Resverlogix (RVXCF) miss the March 31, 2026 annual filing deadline?

The company missed the March 31, 2026 deadline due to unavoidable delays in starting the audit. According to the company, initial audit start delays required reassignment of resources and extended the audit timetable, prompting an MCTO application while the audit remains in progress.

What does the MCTO application mean for Resverlogix (RVXCF) management and shareholders?

An MCTO would bar the CEO and CFO from trading until filings are completed but allow public trading of shares. According to the company, insiders face a black-out while the general investing public can continue to trade during an MCTO.

When does Resverlogix (RVXCF) expect to file the annual audited financial statements?

The company expects, but cannot assure, that the audit and Annual Filings will be completed by April 10, 2026. According to the company, it will issue a news release once the Annual Filings have been filed.

Could the Alberta Securities Commission take a different action than granting an MCTO for RVXCF?

Yes; the ASC may grant the MCTO or impose an issuer cease trade order instead. According to the company, the ASC's review is ongoing and no decision has yet been made regarding which order, if any, will be issued.

Is Resverlogix (RVXCF) insolvent or facing other undisclosed material issues?

No; the company confirms it is not subject to insolvency proceedings and has no other undisclosed material information. According to the company, there has been no material change since the Original Announcement aside from the audit delay update.