ReGen III Corp. is initiating a non-brokered private placement financing (the "Offering") by way of issuing units (the "Units") of the Company at a price of $0.75 per Unit for gross proceeds of up to $2,500,000.
It is anticipated the net proceeds of the Offering will be used to:
continue advancing on FEL3 (FEED);
pay consultants to 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.
Each Unit will consist of one common share of the Company and one-half (1/2) of one common share purchase warrant. Each whole warrant will be exercisable at a price of $1.25 per share for a period of two years from closing.
The closing of the Offering is expected to occur in mid-March. The closing of the Offering is subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange (the "Exchange"). In connection with the Offering, the Company may pay certain finder's fees subject to compliance with applicable securities laws and the rules 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. persons (as such term is defined in Regulation S under the 1933 Act).
