AUTOCANADA ANNOUNCES AGREEMENTS TO DIVEST 13 U.S. DEALERSHIPS
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XORTX Completes Non-Brokered Private Placement of Units
Not For Distribution to United States News Wire Services or for Dissemination in the United States CALGARY, Alberta, July 22, 2025 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. (' XORTX ' or the ' Company ') (NASDAQ: XRTX | TSXV: XRTX | Frankfurt: ANU), a late-stage clinical pharmaceutical company focused on developing innovative therapies to treat gout and progressive kidney disease, is pleased to announce the closing of its previously announced non-brokered private placement of units (' Units '), whereby it issued 1,267,123 Units at a price of US$0.73 per Unit for aggregate gross proceeds of US$925,000 pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (the ' Offering '). Under the Offering, each Unit consisted of one common share in the capital of the Company (' Common Share ') and one common share purchase warrant (' Warrant '). Each Warrant entitles the holder thereof to purchase one additional Common Share at a price of US$1.20 for a period of sixty (60) months following the date of issuance provided, however, that if the closing price of the Common Shares on the Nasdaq is greater than US$2.00 for ten (10) or more consecutive trading days, the Warrants will be accelerated and will expire on the 30 th business day following the date of such notice. Closing of the Offering was approved by the TSX Venture Exchange (' TSXV '), and the securities issued under the Offering will not be subject to a four-month and one-day statutory hold period. The Company intends to use the proceeds of the Offering as more specifically described in the Offering Document and for gout programs, general corporate and working capital purposes. In connection with the Offering, the Company paid an aggregate of $12,264 in finder's fees and issued, in aggregate, 16,800 finder's warrants. The securities have not and will not be registered under the U.S. Securities Act of 1933, as amended (the ' U.S. Securities Act '), or any applicable state securities laws and may not be offered or sold to, or for the account or benefit of, persons in the United States or 'U.S. persons,' as such term is defined in Regulation S promulgated under the U.S. Securities Act, absent registration or an exemption from such registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful. The issuance of 8,191 Units to an insider of the Company constitutes a 'related party transaction' as such term is defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (' MI 61-101 '). Pursuant to Sections 5.5(a) and 5.7(1)(a) of MI 61-101, the Company relied on exemptions from the formal valuation and minority shareholder approval requirements, respectively, as neither the fair market value of the Units nor the consideration for such Units, insofar as it involves the insider, exceeds 25 percent of the Company's market capitalization. In other news, the non-brokered private placement that was announced on May 19, 2025 will not proceed. About XORTX Therapeutics Inc. XORTX is a pharmaceutical company with three clinically advanced products in development: 1) our lead program XRx-026 program for the treatment of gout; 2) XRx-008 program for ADPKD; and 3) XRx-101 for acute kidney and other acute organ injury associated with respiratory virus infections. In addition, the Company is developing XRx-225, a pre-clinical stage program for Type 2 diabetic nephropathy. XORTX is working to advance products that target aberrant purine metabolism and xanthine oxidase to decrease or inhibit production of uric acid. At XORTX, we are dedicated to developing medications that improve the quality of life and health of individuals with gout and other important diseases. Additional information on XORTX is available at For more information, please contact: Forward-Looking Statements Statements contained in this news release that are not historical facts are 'forward-looking information' or 'forward-looking statements' within the meaning of applicable Canadian securities laws. Such forward-looking statements or information are provided to inform the Company's shareholders and potential investors about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as 'anticipate', 'proposed', 'estimates', 'would', 'expects', 'intends', 'plans', 'may', 'will', and similar expressions, although not all forward-looking information contains these identifying words. More particularly and without limitation, the forward-looking information in this news release includes (i) expectations regarding the Company's current and future financing plans; (ii) expectations concerning the Company's plans and objectives in respect of the Offering's gross proceeds; and (iii) expectations regarding the Company's business plans and operations. Forward-looking information is based on a number of factors and assumptions that have been used to develop such information, but which may prove to be incorrect and are inherently subject to significant business, economic and competitive uncertainties, and contingencies. The material factors and assumptions used in preparing the forward-looking information contained herein include, among others, our ability to obtain additional financing; the accuracy of our estimates regarding expenses, future revenues and capital requirements; the success and timing of our preclinical studies and clinical trials; the performance of third-party manufacturers and contract research organizations; our plans to develop and commercialize our product candidates; our plans to advance research in other kidney disease applications; and our ability to obtain and maintain intellectual property protection for our product candidates. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because the Company can give no assurance that such expectations will prove to be correct. The forward-looking information in this news release reflects the Company's current expectations, assumptions and/or beliefs based on information currently available to the Company. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or expressly qualified by this cautionary statement. More detailed information about the risks and uncertainties affecting XORTX is contained under the heading 'Risk Factors' in XORTX's Annual Report on Form 20-F filed with the SEC, which is available on the SEC's website, (including any documents forming a part thereof or incorporated by reference therein), as well as in our reports, public disclosure documents and other filings with the securities commissions and other regulatory bodies in Canada, which are available on Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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Booze until 4 a.m.: Latest last call in Canada coming to downtown Vancouver
Bars, pubs and nightclubs operating in Vancouver's downtown core will be able to extend daily liquor service until 4 a.m., after a unanimous decision from city council Tuesday. But in order to keep the doors open and the booze flowing, individual businesses will have to opt-in and apply for changes to their licences, officials explained. A report from staff recommended changes that would allow so-called 'liquor primary' businesses in the downtown core to extend liquor service until 3 a.m. seven days a week. For businesses outside of the core, the proposal was to allow alcohol service until 3 a.m. on weekends. 'Proposed updates aim to provide more opportunity and flexibility for new and existing businesses, reduce regulatory barriers, bolster local economies and enhance neighbourhood vibrancy by providing more late-night options in the city for dining, hospitality and nightlife for residents and visitors, while considering neighbourhood livability, public safety and health,' the report said. Two bar owners who spoke in support of the motion urged council not to make distinctions based on geography, saying there is a need to create a level playing field and arguing that giving people more places to drink in their neighbourhoods could mitigate some of the risk of drunk driving. ABC Coun. Sarah Kirby-Yung proposed extending service for an additional hour in the downtown core to align with provincial regulations which allow bars to stay open until 4 a.m., which is currently allowed a handful of time per venue. 'Keep it simple. Let's enable a vibrant industry across the city. Let's make it easier for businesses to do business,' she said. 'This is about giving businesses a choice.' Kirby-Yung said her amendment was made in the spirit of 'alignment' between provincial and municipal regulations but also acknowledged this would create different rules for businesses in different areas. She maintained that downtown is a distinct area with distinct needs, in part because legitimate businesses need to be given the opportunity to compete with a 'proliferation' of unsanctioned after-hours operations. 'I think that when you give people the ability to be adults and positive spaces for them to be inside, that is a better scenario than turning people out,' she said. 'When you shut (down at) that arbitrary timeline, they're just going literally next door, half a block down the street, and they're going to an illegal after hours that does not have the same sort of safety considerations and the same operating commitments.' COPE Coun. Sean Orr voted in favour of the amendment. 'I just want to say that it's good to see council vote to expand the hours of safe consumption sites,' he said, alluding to how council's concerns over the dangers of unregulated and inadequately supervised places for people to consume alcohol closely resembled the way harm reduction advocates speak about the need for overdose prevention sites. Transit, safety, public health: Issues raised One of the concerns raised about extending liquor service and operating hours at all was that a dearth of late-night public transit would lead to increases in impaired driving and leave workers without a safe and affordable way to get home. The last SkyTrain out of downtown departs around 1 a.m., earlier than the 2 a.m. last call already allowed in the city. Kirby-Yung's amendment also directed the mayor to write to TransLink to urge them to extend SkyTrain operating hours. However, a city spokesperson at the meeting pointed out this option has already been studied and dismissed as 'unfeasible' by the transit authority. In a statement, TransLink said additional funding – which has yet to be approved – will allow for more bus routes to operate 24/7. 'We work closely with municipalities to ensure services continue to meet demand and will remain in conversation with the City of Vancouver as their plans progress, a spokesperson wrote in an email to CTV News. The potential impacts on public safety and increased spending on policing were also raised as potential consequences. 'Street disorder is always an issue,' a representative form the Vancouver Police Department said about the Granville Entertainment District, who added that the number of fights, stabbings, and incidents varies weekend-to-weekend. A conservative estimate given for the policing costs associated with extending liquor service downtown was $125,000. Addressing the specific issue of gender-based violence, Orr put forward an amendment asking staff to report back on how much it would cost to increase funding for Good Night Out Vancouver – a community organization that patrols the streets to prevent and respond to sexual harassment and assault. The amendment passed unanimously. Mark Lysyshyn, deputy chief medical health officer at Vancouver Coastal Health, spoke in opposition to the motion and argued that increasing the availability of alcohol increases the overall risk of alcohol-related harms. 'Alcohol consumption is associated with numerous health risks, including cancer, heart disease, liver disease, injuries, violence, addiction and death,' he told council. 'Alcohol is a significant burden on the health-care system,' Lysyshyn added, saying data shows an increase in hospitalizations, deaths, and injuries over the past 10 years. Late night and early-morning drinking, specifically, were cited as cause for concern. 'The type of drinking that's done in that time frame is more risky, it's more likely to result in problems, and these are particularly problems not only to the person engaging in the drinking, but to other people,' he said. Green Coun. Pete Fry said he supported the plan to extend downtown hours until 4 a.m. reluctantly and asked whether it would be difficult or onerous to reverse course if it proves to be 'more of a burden than it was worth.' City staff said the process for undoing the changes would be relatively straightforward. 'If we see a significant impact, staff can return with bylaw amendments to roll back the hours,' the city's chief licensing officer said.
