Business
ReGen III Provides Corporate Progress Report
- Engages with off-takers, including super-majors, majors and leading global lubricant blenders ...
About this update from Regen Iii Corp
[{"type":"text","content":"ReGen III Provides Corporate Progress Report- Engages with off-takers, including super-majors, majors and leading global lubricant blenders- Pursues equity and debt financing with National Bank Financial, Raymond James, and strategic investors- Mexican patent application gains approval, enhancing industry leadership and proprietary innovation in recycling used motor oil for Group III base oils- Announces attendance at irlabs investor roadshowVancouver, British Columbia--(Newsfile Corp. - August 30, 2023) - ReGen III Corp. (TSXV: GIII) (OTCQB: ISRJF) (FSE: PN4) (\"ReGen III\" or the \"Company\"), a leading clean technology company commercializing the ReGen™ patented process to recycle used motor oil (\"UMO\") into high-value Group III base oils, is pleased to provide the following corporate update.OFFTAKE & STRATEGIC INVESTMENTSince the end of Q1 2023 and in addition to the Company's own outreach, ReGen III has been approached by a broad spectrum of super-majors, majors, and globally recognized lubricant blenders interested in advancing commercial base oils and ancillary by-products offtake arrangements and/or potential strategic equity investments at the project level. ReGen III has entered into non-disclosure agreements (\"NDAs\") with these parties. Physical samples of ReGen III's Group III base oils have been sent to a number of these entities for their in-house laboratory testing. The Company has received, and will continue to receive, test results and further feedback from these and other parties throughout the remainder of Q3 and into early Q4 2023. While the Company believes these discussions should lead to a material outcome, the completion of an offtake agreement or strategic equity investment will be subject to satisfactory sample testing, due diligence review and the negotiation/execution of a definitive agreement. There can be no assurance that a transaction will be completed.\"In recent months, we have made significant progress,\" said Greg Clarkes, Chairman & CEO of ReGen III. \"Completion of these negotiations will dramatically accelerate our corporate strategy. The ReGen™ process yields 53% Group III base oil, placing the Company as one of the industry leaders in terms of yield and quality, creating a distinct competitive advantage over other traditional refiners and re-refiners.\"FINANCINGR...