ReGen III: update | MarketScreener

Vancouver, British Columbia–(Newsfile Corp. – April 8, 2022) – ReGen III Corp. (TSXV: GIII) (OTCQB: ISRJF) (FSE: PN4) (“ReGen III” or the “Company”) is pleased to announce that it has closed a non-brokered private placement of 1,347,245 common shares (the “Shares”) at a price of C$1.70 per share, for gross proceeds of C$2,290,316 (the “Offer”). Subscribers were primarily existing shareholders originally introduced to ReGen III, by Blue Deer Capital Partners Inc. (“Blue Deer”). ReGen III intends to use the net proceeds of the offering for project engineering, due diligence expenses, working capital and general corporate purposes.

In connection with the Offering, the Company paid a cash finder’s fee of $82,015 to Blue Deer. The Shares issued under the Offer are subject to a legal holding period expiring four months and one day from the date of issue of these securities.

In addition, the Company is pleased to report that 1,000,000 warrants at an exercise price of $0.30 per common share were exercised, generating gross proceeds to the Company of $300,000.

Following the Company’s March 23, 2022 update, FEL2 is nearing completion while project-level financing talks and due diligence processes are progressing well with several financial entities. Work to secure four contracts with the multi-billion dollar green infrastructure private equity firm (“PE Firm”) continues alongside the ongoing technical due diligence process. All four contracts have now been received, reviewed and negotiations are underway. Further details, including the name of the private equity firm, will be made available upon signing of the definitive agreements.

Export Development Canada (“EDC”) engaged its independent engineer to complete the due diligence process of its in-house technical team. In addition, EDC has selected an independent market advisor and is working alongside ReGen III to complete the contract engagement process.

ReGen III continues to advance contractual agreements with Oiltanking North America, LLC (“Oiltanking”) while working toward the completion of the FEL3 site survey. The draft site lease has been received and is currently under review. ReGen III is advised by Oiltanking that a draft Terminal Services Agreement will be provided shortly.

Environmental and Social Review

ReGen III, in conjunction with Export Development Canada (“EDC”), has engaged GHD Group Pty Ltd. (“GHD”) to conduct an environmental and social review of the company’s proposed recycling facility in Texas (the “EDC Directive”). GHD is a global technical professional services company providing consulting, architecture and design, buildings, digital, energy and resources, environment, geosciences, project management, transportation and of water. Founded in 1928, GHD employs approximately 10,000 professionals with operations in 200 offices and 14 countries. https://www.ghd.com/en-ca/index.aspx

As an Equator Principles financial institution, EDC is committed to applying the Equator Principles (EP) to all of its investments. EPs are the financial industry’s benchmark for determining, assessing and managing environmental and social risks in projects. PEs form a risk management framework that identifies, assesses and manages these risks through a minimum standard of due diligence and oversight to support responsible risk decision-making. PEs have global application and apply to all industry sectors and more specifically to the four financial products of Project Finance Advisory Services, Project Finance, Project Related Corporate Loans and Bridge Loans. .

The primary objectives of the EDC directive were to demonstrate that ReGen III’s proposed recycling facility in Texas meets the requirements set forth by EDC and that the company’s proposed recycling facility in Texas was accurately classified as Category “B”. within the meaning of the EDC directive. The environmental and social effects associated with Category “B” projects are generally site-specific; few, if any, are irreversible; and in most cases, mitigation measures can be designed more easily than in category “A” projects. In effect, the assessment determines whether the proposed recycling facility in Texas demonstrates an improvement in the existing environmental and social impacts of the Oiltanking Brownfield.

GHD has identified and focused on the following areas during its risk assessment process:

  • Impacts on local indigenous communities
  • Human rights impacts
  • Oil transport and logistics (impacts, spills, other risk categories)
  • Impacts on air quality
  • Climate risk assessment (physical and transition risks)
  • Life cycle greenhouse gas (GHG) emissions compared to crude oil production and refining

GHD has found that ReGen III’s proposed recycling facility in Texas, its operations and associated management systems will adequately address potential risks associated with impacts on indigenous communities, human rights, climate change, to air quality and transportation, as stated in EP4 and as a requirement of EDC. Environmental and Social Directive. GHD has also determined that the proposed ReGen III facility is specifically classified as Category “B”.

As part of the environmental portion of the EDC Directive, GHD has prepared a Greenhouse Gas (“GHG”) Inventory of GHG Emissions and Intensity of the proposed recycling facility in Texas. GHD’s analysis looked at scopes 1-3 and carbon intensity and concluded that the ReGen™ process provides at least a 72.6% reduction in CO2e carbon intensity compared to production of similar base oils derived from virgin crude oil processes and that there is a significant environmental benefit associated with the ReGen III process. A separate and ongoing life cycle assessment study conducted by GHD will be released in Q2 2022.

This press release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The securities referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (the “United States Securities Act”). , or any state securities law and may not be offered or sold in the United States or to US persons unless registered under the US Securities Act and applicable state laws on the securities or an exemption from such registration is available. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and its management, as well as financial statements.

About ReGen III

ReGen III is a cleantech recycling company that creates more sustainable solutions that include better environmental outcomes and compelling economics.

Last year, ReGen III engaged Koch Project Solutions, LLC (“KPS”) to provide project execution management services leading to the turnkey delivery of its new facility in Texas, where KPS will lead construction teams. engineering, construction and world-class approved suppliers of ReGen III. (PCL Industrial Management Ltd., Koch Modular Process Systems and Duke Technologies) until completion of detailed design, construction, commissioning and start-up. ReGen III has already signed a definitive take-off agreement with bp to purchase 100% of the company’s base oils produced at the proposed re-refining facility in Texas.

For more information about ReGen III or to subscribe to the company’s mailing list, please visit: www.regeniii.com/investors/corporate-presentations and www.regeniii.com/newsletter-subscription.

For more information, please contact:
Marc Redcliffe
President
Such. : (778) 668-5988
Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information contained in this press release constitutes “forward-looking information” or “forward-looking statements” (collectively, “forward-looking information”). Without limiting the foregoing, such forward-looking information includes statements regarding the Company’s business plans, expectations and objectives and potential future financing or other contractual arrangements. In this press release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend of”, “plans”, “estimates” and similar words and their negative form are used to identify forward-looking information. Forward-looking information should not be construed as guarantees of future performance or results, and will not necessarily be precise indications as to whether, or when or by which, such future performance will be achieved. Forward-looking information is based on information available at the time and/or on the good faith belief of the Company’s management regarding future events and are subject to known and unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company’s control. and other factors and assumptions underlying the forward-looking information contained in this press release, please see the Company’s most recent MD&A and financial statements and other documents filed by the Company with the securities commissions. Canadian Securities and the discussion of the risk factors set forth therein. These documents are available at www.sedar.com under the Company’s profile and on the Company’s website, https://www.ReGenIII.com/. The forward-looking information set forth herein reflects the Company’s expectations as of the date of this press release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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