ReGen III closes $600,000 final tranche of financing

Executive Summary

• ReGen III Corp. has closed the third and final tranche of its non-brokered private placement, bringing the total aggregate gross proceeds to $4,037,572.
• The final tranche consisted of 3,000,000 units issued at $0.20 per unit, generating $600,000 in gross proceeds.
• Insiders purchased 2,875,000 units (14.24% of the offering), constituting a related party transaction, with net proceeds designated for working capital, general corporate purposes, and debt repayment.

Key Details

• Final Tranche Specifics: Issued 3,000,000 units at $0.20 per unit for $600,000 in gross proceeds.
• Total Offering Statistics: Over three tranches, the company issued 20,187,860 units for total aggregate gross proceeds of $4,037,572.
• Security Structure: Each unit comprises one common share and one-half of one common share purchase warrant.
• Warrant Terms: Warrants allow the purchase of additional shares at an exercise price of $0.30 per share for a period of three years from issuance.
• Hold Period: All securities are subject to a statutory four-month hold period ending August 2, 2026.
• Insider Participation: Insiders purchased 2,875,000 units, representing 14.24% of the aggregate units issued. This represents approximately 1.86% of issued and outstanding common shares post-closing, or 2.62% on a partially diluted basis if warrants are exercised.
• Related Party Transaction: The insider participation is classified as a related party transaction under Multilateral Instrument 61-101. The company relied on exemptions from formal valuation and minority shareholder approval requirements as the fair market value of the transaction did not exceed 25% of the company's market capitalization.
• Finder’s Fees: Total finders' fees paid were $80,750, including $5,000 paid concurrently with the final tranche closing.
• Finders Involved: ATB Cormark Capital Markets, Canaccord Genuity Corp., Hampton Securities Ltd., Haywood Securities Inc., PowerOne Capital Markets Ltd., and Ullman Wealth Management Inc.
• Use of Proceeds: Working capital, general corporate purposes, and repayment of debt.
• Regulatory Status: Closing is subject to final approval by the TSX Venture Exchange and other necessary regulatory approvals.

Notable Quotes

• "On behalf of the entire ReGen III team, I want to extend my gratitude to our shareholders for their continued support... With our balance sheet strengthened, our focus is on near-term commercialization opportunities to capture long-term value in a growing and increasingly strategic market." — Tony Weatherill, CEO and President