Regenx Tech Corp (RGXTF)

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$RGXTF $RGX.V Regenx Announces Proposed Debenture Offering

https://www.globenewswire.com/news-release/2023/05/11/2666286/0/en/Regenx-Announces-Proposed-Debenture-Offering.html

EDMONTON, Alberta, May 11, 2023 (GLOBE NEWSWIRE) -- Regenx Tech Corp., (the "Corporation" or "Regenx") (TSXV: RGX) (OTCQB: RGXTF) (FSE: YRS WKN: A2DSW3) announced today its intention to complete a non-brokered private placement offering of unsecured convertible debentures (“Debentures”) in the principal amount of up to $2.5Million (the “Private Placement”). The Debentures will bear interest at the rate of fifteen percent (15%) per annum, payable on the maturity date and will mature on July 1, 2025. The Debentures will be convertible at the holder’s option into common shares of the Corporation (“Common Shares”) at a conversion price of: (i) $0.105 per Common Share until the date that is one (1) year from the closing date; and (ii) $0.15 per Common Share for the period from the date following one (1) year from the closing date until the maturity date. The Corporation can redeem the Debentures at any time upon 10 days prior written notice.

The closing of the Private Placement is expected to occur on or about June 15, 2023, and is subject to regulatory approval, including approval of the TSX Venture Exchange. For further details on the Private Placement, please contact the Corporation. All securities issued in connection with the Private Placement will be subject to a hold period of four months from the date of closing. The net proceeds from the Private Placement will be used for plant operations including feedstock and for general working capital.