Business
ReGen III Closes Oversubscribed Private Placement
Vancouver, British Columbia--(Newsfile Corp. - March 16, 2023) - ReGen III Corp. (TSXV: GIII) (O...
About this update from Regen Iii Corp
[{"type":"text","content":"ReGen III Closes Oversubscribed Private PlacementVancouver, British Columbia--(Newsfile Corp. - March 16, 2023) - ReGen III Corp. (TSXV: GIII) (OTCQX: ISRJF) (FSE: PN4) (\"ReGen III\" or the \"Company\") is pleased to announce the closing of its non-brokered private placement financing (the \"Offering\"), previously announced on March 2, 2023 (the \"Prior Announcement\"). In the Prior Announcement, the Company had announced the Offering with gross proceeds of up to $2,500,000. In connection with the closing of Offering, the Company issued an aggregate of 3,692,502 units (the \"Units\") of the Company at a price of $0.75 per Unit for gross proceeds of $2,769,376.50, representing an oversubscription of $269,376.50 in gross proceeds. It is anticipated the net proceeds of the Offering will be used to:continue advancing on FEL3 (FEED); support the Company's ongoing due diligence processes being undertaken by various equity and debt providers; and for general working capital and other corporate purposes. Pursuant to the Offering, each Unit consists of one common share of the Company and one-half (1/2) of one common share purchase warrant. Each whole warrant is exercisable at a price of $1.25 per share until March 16, 2025.In connection with the closing of the Offering, the Company paid aggregate cash finders' fees of $3,330 for subscriptions processed through arm's length brokerage houses. No finder's warrants were issued.All securities issued in Offering will be subject to a resale restriction expiring July 17, 2023, in accordance with applicable securities laws. The Offering is subject to the final approval of the TSX Venture Exchange. Mark Redcliffe, President of ReGen III commented, \"We are grateful for the strong support shown by our shareholders and other investors in this Offering and we look forward to driving ongoing due diligence and engineering ahead.\"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...