Regenx Tech Corp (RGXTF)

[TPX]

the Company finalized an arrangement involving Mineworx, shareholders of Mineworx and Enviroleach. The plan of arrangement involved the spin-out of the Mineworx ‘Technology Rights’ to Enviroleach and the distribution to the Company’s shareholders of 25,999,813 common shares of Enviroleach.
Under the terms of the Arrangement Agreement, through a statutory plan of arrangement under the Business Corporations Act (Alberta) (the “Arrangement”), the Company transferred the Technology to Enviroleach in exchange for total compensation of $8,600,000 comprised of:

i) 28 million common shares of Enviroleach valued at $0.25 per share,

ii) promissory notes in the amount of $1,600,000 made by Enviroleach in favour of the Company carrying a 5% interest rate. At June 30, 2020 $250,000 remains unpaid.

iii) The Company will retain a license agreement in perpetuity for the Enviroleach, patent-pending,
non-cyanide gold leaching solution for its’ mining applications.