Regenx Announces Non-Brokered Financing for Gross Proceeds of $503,423

Regenx Tech Corp. (TSXV: RGX, OTCQB: RGXTF) has secured a non-brokered financing through debentures for gross proceeds of $503,423.

Rhea-AI Summary

Regenx Tech Corp. (TSXV: RGX, OTCQB: RGXTF) has secured a non-brokered financing through debentures for gross proceeds of $503,423. The debentures will carry a 15% annual interest rate and include warrant issuance of 500 warrants per $1,000 debenture. Each warrant enables the purchase of one common share at $0.05 per share until October 30, 2025. The company maintains the right to redeem debentures with 10 days prior notice. Proceeds will support operations and working capital needs. Regenx operates in the cleantech sector, focusing on recycling end-of-life diesel catalytic converters to recover precious metals like platinum and palladium.

Positive

• Secured $503,423 in new financing for working capital
• Company retains flexibility with debenture redemption rights

Negative

• High interest rate of 15% on debentures indicates expensive financing
• Potential dilution from warrant issuance at $0.05 per share
• Reliance on debt financing suggests cash flow challenges

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EDMONTON, Alberta, Dec. 31, 2024 (GLOBE NEWSWIRE) -- Regenx Tech Corp., (the "Company" or "Regenx") (TSXV: RGX) (OTCQB: RGXTF) (FSE: YRS WKN: A2DSW3) announces the Company has received unsecured and non-brokered financing for gross proceeds of $503,423 in Debenture Financing. The debentures will bear interest at the rate of 15% per annum. The Subscriber will also be issued 500 warrants for each $1,000 Debenture. Each warrant allows the Subscriber to purchase a common share of the Corporation for $0.05 per share if exercised prior to the expiry date of October 30, 2025. The Corporation can redeem the Debentures at any time upon 10 days prior written notice. The Company intends to use the proceeds to support operations, and general working capital.

About Regenx

Regenx Tech is a cleantech, urban mining company that recycles end-of-life diesel catalytic converters using its innovative and environmentally friendly proprietary technology for the recovery of precious metals, such as platinum and palladium. Learn more at 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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are the terms of Regenx Tech's (RGXTF) December 2024 debenture financing?

The debenture financing includes a 15% annual interest rate, with 500 warrants issued per $1,000 debenture. Each warrant allows purchase of one common share at $0.05, exercisable until October 30, 2025.

How much funding did Regenx Tech (RGXTF) raise in its December 2024 financing?

Regenx Tech raised gross proceeds of $503,423 through non-brokered debenture financing.

What is the exercise price and expiry date for RGXTF's new warrants?

The warrants have an exercise price of $0.05 per share and expire on October 30, 2025.

How will Regenx Tech (RGXTF) use the proceeds from its $503,423 financing?

The company intends to use the proceeds to support operations and for general working capital purposes.