Regenx Announces Proposed Debenture Offering With a $750,000 Lead Order

EDMONTON, Alberta, Dec. 18, 2023 (GLOBE NEWSWIRE) -- Regenx Tech Corp., (the "Corporation" or "Regenx") (TSXV: RGX) (OTCQB: RGXT) (FSE: YRS WKN: A2DSW3) announced today its intention to complete a non-brokered private placement offering of unsecured convertible debentures ("Debentures") in the principal amount of up to $1.5 Million (the "Private Placement") with a lead order in place for $750,000. The Debentures will bear interest at the rate of fifteen percent (15%) per annum, payable on the maturity date and will mature on December 31, 2025. The Debentures will be convertible at the holder's option into common shares of the Corporation ("Common Shares") at a conversion price of: (i) $0.05 per Common Share until the date that is one (1) year from the closing date; and (ii) $0.105 per Common Share for the period from the date following one (1) year from the closing date until the maturity date. The Subscriber will also be issued 14,285 warrants for each $1,000 Debenture. Each warrant allows the Subscriber to purchase a common share of the Corporation for $0.105 per share if exercised in the first year and $0.20 per share if exercised in the second year. The warrants will expire after two years. The Corporation can redeem the Debentures at any time upon 10 days prior written notice.

The closing of the Private Placement is expected to occur on or about December 31, 2023.

The Company intends to use the proceeds from the offering for general corporate purposes including general working capital and operating the Catalytic Converter business.

The Common Shares to be issued under the offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to a U.S. Persons absent registration or an applicable exemption from the registration.

This news release is not an offer or a solicitation of an offer of securities for sale in the United States, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Regenx Tech Corp

Regenx is positioned for growth in the Clean Tech sector through the development and commercialization of its environmentally friendly processing technologies for the recovery of precious metals. Initial focus is the extraction of platinum and palladium from diesel catalytic converters with its business partner Davis Recycling. For further information visit www.regenx.tech

For further information contact

Regenx Tech Corp.
Greg Pendura
President & CEO 780-800-0726
[email protected]

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.