EDMONTON, AB, Jan. 30, 2024 (GLOBE NEWSWIRE) — Regenx Tech Corp. (the “Company” or “Regenx”) (CSE: RGX) (OTCQB: RGXTF) (FSE: YRS WKN:A2DSW3) has amended its previously announced unsecured, unbrokered convertible note financing (the “Offering”) for gross proceeds of $1,700,401.73. The notes bear interest at the rate of 15% per year, payable on the maturity date, and mature on December 31, 2025. The Bonds may be converted into common stock of the Company (“Common Stock”) at the option of the holder. (i) Common Shares will be transferred at a conversion price of $0.05 per share until the date one year after the Closing Date. (ii) $0.105 per common share from the date one year after the closing date until the maturity date; Participants will also be issued 14,285 warrants for each $1,000 of bonds. Each warrant entitles the Participant to purchase common stock of the Company at a price of $0.105 per share if exercised in his first year and $0.20 per share if exercised in his second year. Masu. The warrant expires after two years. The Company may redeem the Debentures at any time upon ten (10) days' prior written notice. The Company plans to use the proceeds for operational support, repayment of borrowings, and general working capital.
Company insiders bought $280,000 of stock.
All securities are subject to a hold period of 4 months + 1 day under applicable Canadian securities laws. The financing is subject to final approval from the Canadian Securities Exchange.
The common stock issued pursuant to this offering has not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and is not being offered to U.S. persons in or absent from the United States. or cannot be sold. Registration or applicable exemption from registration. This news release does not constitute an offer or solicitation of an offer to sell securities in the United States, nor will there be any sale of securities in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.
About Regenx Tech Corp.
Regenx aims to grow in the clean tech space through the development and commercialization of environmentally friendly processing technologies for the recovery of precious metals. The initial focus will be on extracting platinum and palladium from diesel catalytic converters in collaboration with business partner Davis Recycling. For more information, please visit www.regenx.tech.
For more information, please contact us below.
Regenx Tech Co., Ltd.
Greg Pendula
CEO 780-800-0726
greg@regenx.tech
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.
