Regenx Addresses Effects of Hurricane Helene

Rhea-AI Summary

Regenx Tech Corp. (TSXV: RGX) (OTCQB: RGXTF) has reported on the effects of Hurricane Helene on its operations. CEO Don Weatherbee confirmed that the company's facility suffered no damage and all employees are safe. However, the Regenx Module One facility in Greene County has been impacted by severe flooding, rated as a 1 in 1,000-year event.

The local water intake structure was damaged, resulting in a complete shutdown of water supply to the area. Regenx's facility cannot operate without water access, and local officials expect water service to resume next week. The company will provide updates on the restart of operations as more information becomes available.

Positive

• Regenx facility suffered no damage from Hurricane Helene
• All employees are reported safe

Negative

• Facility operations halted due to lack of water supply
• Uncertain timeline for resumption of water service and facility operations

EDMONTON, Alberta, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Regenx Tech Corp., (the "Company" or "Regenx") (TSXV: RGX) (OTCQB: RGXTF) (FSE: YRS WKN: A2DSW3) provides details on the effect to the Company of Hurricane Helene.

Don Weatherbee, CEO of Regenx stated that “We are pleased to report that the Regenx facility suffered no damage, and all our employees are safe. Our sympathies go out to everyone in the area that did incur losses caused by Hurricane Helene.”

On September 27, 2024, Greene County where the Regenx Module One facility is located was severely impacted by flooding created by the rain event associated with Hurricane Helene. The level of rain was rated as a 1 in 1,000-year event and created substantial damage to property and infrastructure in the area.

Area infrastructure damage included the water intake structure for the Greeneville Water Commission resulting in water supply to the area being completely shut off. Local government is in the process of making repairs but until this is completed the Regenx facility will be without access to a supply of water. Although officials are still in the process of implementing their recovery plans, they expect water service not to resume until next week.

Until water service is resumed Regenx will not be able to operate its facility. As the Company receives additional information it will provide an update on the restart of operations.

About Regenx

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. For further information visit: www.regenx.tech

For further information contact:

REGENX TECH CORP.
Investors@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.

A photo accompanying this announcement is available at: 
https://www.globenewswire.com/NewsRoom/AttachmentNg/894bc425-b305-43e8-b55d-c5bea8a1ab57

FAQ

How did Hurricane Helene affect Regenx Tech Corp (RGXTF) operations?

Hurricane Helene caused severe flooding in Greene County, where Regenx's Module One facility is located. While the facility itself was not damaged, the local water supply was shut off due to infrastructure damage, forcing Regenx to halt operations until water service is restored.

When will Regenx Tech Corp (RGXTF) resume operations after Hurricane Helene?

Regenx Tech Corp has not provided a specific date for resuming operations. Local officials expect water service to resume next week, but Regenx will provide updates on the restart of operations as more information becomes available.

What is the main impact of Hurricane Helene on Regenx Tech Corp (RGXTF)?

The main impact is the temporary halt of operations at Regenx's facility due to the lack of water supply caused by Hurricane Helene's flooding. The company cannot operate its facility until water service is restored in the area.