Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Regenx Announces Rights Offering and Share Consolidation

C.RGX

EDMONTON, Alberta, March 26, 2024 (GLOBE NEWSWIRE) -- Regenx Tech Corp., (the "Corporation" or "Regenx") (CSE: RGX) (OTCQB: RGXT) (FSE: YRS WKN: A2DSW3) announced that it will be offering rights (the "Rights Offering") to holders of its common shares ("Common Shares") of record at the close of business on April 2, 2024 (the “Record Date”). Pursuant to the Rights Offering, each holder of Common Shares (a “Shareholder”) will receive one (1) transferable right (each, a “Right”) for each Common Share held as of the Record Date. One (1) Right will entitle the holder thereof to subscribe for one Common Share upon payment of the subscription price of $0.0075 (3/4 of a cent) per Common Share until 5:00 p.m. (Toronto time) (the “Expiry Time”) on May 21, 2024. Assuming the exercise of all Rights, the Rights Offering will raise gross proceeds of up to $2,966,316.

The Rights will be offered to Shareholders resident in each province and territory of Canada (the “Eligible ‎Jurisdictions”) and Shareholders who have satisfied the requirements of the Corporation for those resident ‎outside of the Eligible Jurisdictions. Accordingly, and subject to the detailed provisions of the right offering circular dated March 26, 2024 (the “Circular”), Rights ‎direct registration system advice (“Rights DRS Advices”) will not be mailed to Shareholders resident outside of the Eligible ‎Jurisdictions, unless such Shareholders are able to establish to the satisfaction of the Corporation, on or before ‎May 10, 2024, that they are eligible to participate in the Rights Offering.‎ Shareholders who fully exercise their Rights will be entitled to subscribe for additional Common Shares, if ‎available, that were not subscribed for by other holders of Rights prior to the Expiry Time.

The Corporation understands that certain directors and officers of the Corporation who own Common Shares intend to exercise their rights to purchase Common Shares under the Rights Offering.

The Corporation currently has 395,508,808 Common Shares issued and outstanding. If all Rights issued under the Rights Offering are validly exercised, an additional 395,508,808 Common Shares would be issued. The net proceeds from the Rights Offering will be used for capital expenditures and for general corporate purposes. The Rights Offering is subject to regulatory approval, including the final approval of the Canadian Securities Exchange (the “CSE”).

Complete details of the Rights Offering are set out in the Circular and the rights offering notice (the ‎‎“Notice”), which are filed under the Corporation’s profile at www.sedarplus.ca. Registered Shareholders who wish to exercise their Rights must ‎complete and forward the Rights DRS Advice and subscription form, together with applicable funds, to Computershare Investor ‎Services Inc., the depositary for the Rights Offering, on or before the Expiry Time of the Rights Offering. ‎Shareholders who own their Common Shares through an intermediary, such as a bank, trust Corporation, ‎securities dealer or broker, will receive materials and instructions from their intermediary.‎

Share Consolidation

Following the Rights Offering, the Corporation intends to consolidate its issued and outstanding Common Shares, subject to regulatory approval, including approval of the CSE. The proposed basis for the share consolidation is one (1) post-consolidation Common Share for up to every two (2) pre-consolidation Common Shares (the "Share Consolidation"). Regenx plans to hold an annual general and special meeting of shareholders for the purposes of voting on the Share Consolidation on June 12, 2024. Further information about the Meeting and the Share Consolidation will be provided to the Corporation's shareholders in a Notice of Meeting and Management Information Circular, to be sent to shareholders following the record date for the Meeting.

About Regenx

Regenx is positioned for growth in the CleanTech 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
CEO
780 800-0726
greg@regenx.tech

Forward Looking Statements:‎
This news release contains “forward-looking information” within the meaning of applicable Canadian ‎securities legislation. All statements, other than statements of historical fact, included herein are forward-‎looking information. In particular, this news release contains forward-looking information regarding: the ‎Rights Offering, including the expiry time of the Rights Offering, the potential outstanding Common Shares after the Rights Offering, the potential use of proceeds and the Share Consolidation. There can be no assurance that such forward-‎looking information will prove to be accurate, and actual results and future events could differ materially from ‎those anticipated in such forward-looking information. This forward-looking information reflects ‎Regenx’s current beliefs and is based on information currently available to Regenx and on ‎assumptions Regenx believes are reasonable. These assumptions include, but are not limited to: the ‎underlying value of Regenx and its Common Shares; market acceptance of the Rights Offering; TSX Venture Exchange final approval of the Rights Offering and the Share Consolidation; Regenx's general and administrative costs remaining constant; ‎and the market acceptance of Regenx's business strategy. Forward-looking information is ‎subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of ‎activity, performance or achievements of Regenx to be materially different from those expressed or ‎implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general ‎business, economic, competitive, political and social uncertainties; general capital market conditions and market prices ‎for securities; delay or failure to receive board or regulatory approvals; the actual results of future operations; ‎competition; changes in legislation, including environmental legislation, affecting Regenx; the timing and availability of ‎external financing on acceptable terms; and lack of qualified, skilled labour or loss of key individuals‎. A description of ‎additional risk factors that may cause actual results to differ materially from forward-looking information can ‎be found in Regenx’s disclosure documents on the SEDAR website at www.sedar.com. Although ‎Regenx has attempted to identify important factors that could cause actual results to differ materially ‎from those contained in forward-looking information, there may be other factors that cause results not to be as ‎anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. ‎Readers are further cautioned not to place undue reliance on forward-looking information as there can be no ‎assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking ‎information contained in this news release is expressly qualified by this cautionary statement. The forward-‎looking information contained in this news release represents the expectations of Regenx as of the date ‎of this news release and, accordingly, is subject to change after such date. However, Regenx expressly ‎disclaims any intention or obligation to update or revise any forward-looking information, whether as a result ‎of new information, future events or otherwise, except as expressly required by applicable securities law.‎


Primary Logo