Business
ReGen III Closes Final Tranche of Oversubscribed Private Placement
Vancouver, British Columbia--(Newsfile Corp. - November 25, 2024) - ReGen III Corp. (TSXV: GIII)...
About this update from Regen Iii Corp
[{"type":"text","content":"ReGen III Closes Final Tranche of Oversubscribed Private PlacementVancouver, British Columbia--(Newsfile Corp. - November 25, 2024) - ReGen III Corp. (TSXV: GIII) (OTCQB: ISRJF) (FSE: PN4) (\"ReGen III\" or the \"Company\"), a leading clean technology company specializing in the upcycling of used motor oil (\"UMO\") into high-value Group III base oils, is pleased to announce the closing of its second and final tranche (the \"Final Tranche\") of its non-brokered private placement (the \"Placement\") announced October 7, 2024. In connection with the Final Tranche, the Company issued 1,800,000 Units (the \"Units\") at a price of $0.20 per Unit for gross proceeds of $360,000. On an aggregate basis, across the initial and Final Tranche of the non-brokered private placement, the Company issued 4,450,000 Units for gross proceeds of $890,000 (see press release dated October 24, 2024 for details of the initial tranche).Each Unit in the Final Tranche consists of one (1) common share of the Company and one (1) common share purchase warrant exercisable at a price $0.30 per share until November 22, 2027. All securities issued in the Final Tranche are subject to a hold period expiring on March 23, 2025. The warrants will be subject to accelerated expiry if, at any time after the expiry of the 4-month hold period, the Company's common shares trade or close on the TSX Venture Exchange (the \"Exchange\") at a price of $0.45 or more for 10 consecutive trading days.In connection with the Final Tranche, the Company paid aggregate finders' fees of $7,000 in cash. The net proceeds from the Offering are intended to be used for general corporate purposes and working capital. The Offering is subject to the final approval of the Exchange.The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the \"1933 Act\"), or any state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act), except pursuant to an exemption from the registration requirements of those laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction other than as specified herein including the United States, or for the account or benefit of U.S. ...