Regenx Welcomes New Board Member and Changes Auditor

Rhea-AI Summary

Regenx Tech Corp. (CSE: RGX) (OTCQB: RGXTF) has announced the appointment of John Kiland to its Board of Directors. Kiland has been associated with DPF Alternatives since 2020, a company specializing in cleaning and restoration of diesel particulate filters and diesel oxidation catalysts with 90 locations across North America.

Upon joining the board, Kiland will receive 300,000 stock options at an exercise price of $0.05, vesting immediately with a five-year term.

Additionally, Regenx has appointed DMCL Chartered Professional Accountants as its new auditor effective February 4, 2025, following the resignation of Gallo LLP. The company also announced a fiscal year-end change to March 31. Q4 2024 interim financial statements will be released by March 3, 2025, and the audited 15-month financial statements for the period ending March 31, 2025, will be published by July 29, 2025.

Positive

• New board member with industry expertise in catalytic converters
• Board member comes from DPF Alternatives with 90 North American locations
• Smooth transition to new auditor

Negative

• Previous auditor resigned due to increasing regulatory requirements
• Fiscal year-end change requiring 15-month financial statements

EDMONTON, Alberta, Feb. 25, 2025 (GLOBE NEWSWIRE) -- Regenx Tech Corp. (“Regenx” or the “Company”) (CSE: RGX) (OTCQB: RGXTF) is pleased to announce the appointment of John Kiland to its Board of Directors.

In addition to his various business ventures John has been associated with DPF Alternatives (“DPF”) since 2020. DPF specializes in the cleaning and restoration of diesel particulate filters and diesel oxidation catalysts which are the primary components of a diesel catalytic converter. DPF operates 90 locations across North America and the company is recognized as a leader in complete DPF restoration for all years, makes, and models.

Greg Pendura, Chairman of the Board, commented, “We are excited to welcome John to the Board of Directors. His extensive experience in the catalytic converter industry will be a valuable asset to Regenx as we continue to grow.”

Upon joining the board, John will be granted 300,000 stock options with an exercise price of $0.05, vesting immediately. The options will have a five-year term.

Appointment of New Auditor and Fiscal Year-End Change

Regenx has also appointed DMCL Chartered Professional Accountants as its auditor, effective February 4, 2025. The Company accepted the resignation of its previous auditor, Gallo LLP, Chartered Professional Accountants ("Gallo").

Emily Richardson, CFO, stated, “While we are pleased to welcome DMCL, this change was necessary as our previous auditor decided to cease auditing publicly listed companies due to increasing regulatory requirements for small and mid-sized accounting firms.”

Additionally, in conjunction with the change in auditors and due to CPA Alberta regulations, Regenx will be changing its fiscal year-end to March 31. As a result:

• The Q4 2024 interim financial statements will be released on or before March 3, 2025, in compliance with SEDAR deadlines.
• The audited 15-month financial statements for the period ending March 31, 2025, will be published on or before July 29, 2025.

About Regenx Tech Corp.

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

What experience does John Kiland bring to Regenx Tech (RGXTF)?

John Kiland has been associated with DPF Alternatives since 2020, a company specializing in diesel particulate filter cleaning and restoration with 90 North American locations, bringing valuable catalytic converter industry experience to Regenx.

Why did Regenx Tech (RGXTF) change its auditor in February 2025?

Regenx changed auditors because their previous firm, Gallo LLP, decided to cease auditing publicly listed companies due to increasing regulatory requirements for small and mid-sized accounting firms.

When will Regenx Tech (RGXTF) release its next financial statements?

Regenx will release Q4 2024 interim financial statements by March 3, 2025, and audited 15-month financial statements for the period ending March 31, 2025, by July 29, 2025.

What stock options did Regenx Tech (RGXTF) grant to its new board member?

Regenx granted John Kiland 300,000 stock options with an exercise price of $0.05, vesting immediately with a five-year term upon joining the board.

Why is Regenx Tech (RGXTF) changing its fiscal year-end to March 31?

Regenx is changing its fiscal year-end to March 31 in conjunction with the auditor change and due to CPA Alberta regulations.