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RestorGenex Announces Closing of its Private Placement of Common Stock

Raised total $35.6 million in gross proceeds

CHICAGO--(BUSINESS WIRE)--RestorGenex Corporation (OTCQB: RESX), a specialty biopharmaceutical company, announced today that it closed its private placement, which raised approximately $35.6 million in gross proceeds. RestorGenex received net proceeds of approximately $31.3 million, after deducting placement agent fees and other offering expenses. RestorGenex sold 8,895,685 shares of its common stock and warrants to purchase up to 2,668,706 additional shares of its common stock in a private placement to institutional and accredited investors. Each unit, consisting of one share of common stock and a warrant to purchase 0.3 of a share of common stock, was sold for a purchase price of $4.00. Each full warrant is exercisable immediately into one common share of common stock at an exercise price of $4.80 per share and will expire four years from its date of issuance. As a result of closing this financing, RestorGenex currently has outstanding approximately 18.4 million shares of common stock and 24.5 million fully diluted shares.

“We are pleased to have raised this significant amount of money”

"We are pleased to have raised this significant amount of money," said Stephen M. Simes, RestorGenex’s chief executive officer. “We intend to use the proceeds to continue the development of our proprietary dermatology, ophthalmology and women’s health portfolio products, as well as to explore our other portfolio products and technologies, for working capital and other general purposes.”

Maxim Group, LLC was the exclusive placement agent for the transaction.

Institutional investors included Ally Bridge Group, a global healthcare-focused investment manager which is founded and led by Frank Yu, with bases in Hong Kong and the United States. Ally Bridge Group and its affiliates manage over $500 million in assets in both the United States and China, and has expertise in cementing strategic partnerships between emerging life sciences companies and industry leaders, and between companies in China and the United States.

This release does not constitute an offer to sell or the solicitation of an offer to buy any securities. The shares of common stock and the shares of common stock issuable upon exercise of the warrants have not been registered under the Securities Act of 1933, as amended, or any applicable state securities laws and may not be offered or sold in the United States, absent registration or an applicable exemption from such registration requirements.

About RestorGenex Corporation

RestorGenex Corporation is a specialty biopharmaceutical company initially focused on developing products for dermatology, ophthalmology and women’s health. The Company’s prescription dermatology business primarily is based upon three compounds under development for the treatment of aging skin fragility/thinning, androgen excess, e.g. acne, hirsutism (unwanted excess hair), and keloid scarring. The Company’s ophthalmology product will target age-related macular degeneration, based on inhibition of the PI3K/Akt/mTOR pathway. The Company’s prescription women’s health business is based upon a “soft” estrogen compound under development for vulvar and vaginal atrophy (VVA), a condition affecting peri- and post-menopausal women due to declining levels of estrogen. www.restorgenex.com

Forward-Looking Statements

Certain statements in this release are forward-looking statements under the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about RestorGenex’s plans with respect to the use of proceeds from its private placement, its intent to list its common stock on the NASDAQ Stock Market and other statements that are not historical in nature, particularly those that utilize terminology such as “will,” “intends,” “expects,” “plans,” “potential,” “future,” “believes,” “continue,” other words of similar meaning, derivations of such words and the use of future dates. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Uncertainties and risks may cause RestorGenex’s actual results to be materially different than those expressed in or implied by such forward-looking statements. Particular uncertainties and risks include, among others, the failure of the RestorGenex to achieve a NASDAQ listing for its common stock, management’s discretion with respect to the use of proceeds from its private placement and other risks and uncertainties described in RestorGenex´s filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K/A and subsequent quarterly report on Form 10-Q. All forward-looking statements in this release speak only as of the date of this release and are based on RestorGenex´s current beliefs and expectations. RestorGenex undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.


RestorGenex Corporation
Tim Boris, 805-229-1829