ReGen III Announces Receipt of $3.975 Million in Sub-Agreements Related to Convertible Debenture Exchange

Executive Summary

• ReGen III Corp. received settlement and exchange agreements totaling $3.975 million from over 97% of debenture holders for its previously announced Convertible Debenture Exchange.
• The high participation rate demonstrates strong investor confidence and is expected to strengthen the Company’s balance sheet, enabling acceleration of commercial‑scale production of sustainable Group III base oils.
• The Company has applied to the TSX Venture Exchange for approval and expects to close the CD Exchange immediately upon receipt of final regulatory clearance.

Key Details

• Settlement Amount: $3.975 million received from debenture holders under Sub‑Agreements.
• Participation Rate: Agreements obtained from >97% of existing convertible debenture holders.
• Purpose: Strengthen financial position to fund acceleration of commercialisation plans for up‑cycled Group III base oils.
• Regulatory Process: Application filed with the TSX Venture Exchange; closing anticipated immediately after final approval.
• New Securities: Issuance of New Debentures and New Warrants (not registered under U.S. securities laws; resale limited to qualified persons or exempt transactions).
• Forward‑Looking Statements: Company expects to proceed with its Texas City 5,600 bpd flagship facility and evaluate additional deployment opportunities, subject to regulatory waivers and market conditions.

Notable Quotes

“We have now received Sub‑Agreements from over 97% of debenture holders. The nearly 100% agreement to participate in the CD Exchange demonstrates confidence in our strategic direction. With our financial position strengthened, we look forward to accelerating our plans to commercialize sustainable, re‑refined Group III base oils.” – Tony Weatherill, CEO & President, ReGen III Corp.