Regenx Provides Audit Update, Debenture Extension, and Operational Update

Executive Summary

• Regenx Tech reports an expanded audit scope covering multiple subsidiaries and complex IFRS accounting policies, with no undisclosed issues expected in the forthcoming financial statements.
• The company has secured a one‑year extension of its debentures, now maturing on January 31 2027, with all other terms unchanged.
• Bob Fair’s formal engagement with Regenx ends 31 Dec 2025; he will remain available on an as‑needed basis while the Newport, Tennessee processing facility continues operations under existing leadership.

Key Details

• Audit Update
• Audit now includes first‑time reviews of Iron Bull Mining (South Africa) and MDC (Spain), re‑verification of 2023 comparative balances, and reassessment of IFRS policies (functional currency, FX treatment, equity‑accounted investments, asset retirement obligations, financial instruments).
• All requested information has been supplied; remaining work involves testing, finalization, and partner review.
• CFO Emily Richardson states no undisclosed issues or surprises are expected; delays are procedural and scope‑related.

• No definitive timeline for audit completion; company will apply to lift the cease‑trade order once audited statements are filed.

• Debenture Extension

• Original debentures due January 2026 are extended to January 31 2027.

• All other terms and conditions remain unchanged.

• Operational Update – Newport, Tennessee

• Bob Fair’s formal contract ends 31 Dec 2025; he accepted a full‑time role elsewhere in summer 2025 but continued with Regenx through year‑end.
• President Rick Purdy thanks Mr. Fair for his role in commissioning the Newport processing facility and notes the team is well‑positioned to continue operations.
• Bob Fair will remain available on an as‑needed basis after contract expiry.

Notable Quotes

• Emily Richardson, CFO: “I wish to be unequivocal: there are no undisclosed issues or ‘surprises’ expected in the audited financial statements…the delays are procedural and scope‑related, not substantive.”
• Rick Purdy, President Regenx USA: “The operational team currently in place at the Newport facility is well‑positioned to continue operations successfully, building on the foundation established under Mr. Fair’s leadership.”