Mr. Tom Lawlor reports

REGEN III COMMENCES ADDITIONAL PILOT STUDY WITH KMPS AND ENGAGES ICP SECURITIES INC. FOR AUTOMATED MARKET MAKING SERVICES

ReGen III Corp. has provided an update regarding incremental pilot studies, the issuance of its sixth U.S. patent and the engagement of ICP Securities Inc. for automated market-making services.

Pilot study

Building on prior, successful pilot study work completed by Koch Modular Process Systems (KMPS), a subsidiary of Koch Industries, KMPS has commenced additional pilot testing at its Texas facilities. The primary purpose of this work is to generate samples of modified base oil products requested by major offtake purchasers. As the process designer for ReGen III's molecular separation unit (MSU), KMPS brings over 40 years of industry experience specializing in liquid-liquid extraction systems. The pilot study is expected to wrap up in mid-April, 2024, at which time the company will deliver additional samples to these offtake parties.

Tom Lawlor, chief operating officer of ReGen III, states: "During the course of 2023, offtake parties from around the globe, including oil and gas majors, supermajors, international traders and lubricant blenders, have shown serious interest in our suite of sustainable products, resulting in robust demand for samples. In addition, potential new markets have been identified for modified base oils. KMPS's pilot studies on our MSU will not only generate more samples, but will also further validate feedstock properties, optimize yields of critical offtake products and reconfirm the API properties of our base oil products, all of which are critical to our ongoing discussions with offtake parties."

Patent update

Further to the company's press release of Dec. 20, 2023, ReGen III received its official patent certificate (patent No. 11873463) on Jan. 16, 2024, from the United States Patent and Trademark Office for the method and system for rerefining and upgrading used oil, resulting in 18 patents issued, allowed or accepted for the company's ReGen process, in addition to 14 patents pending globally.

Market maker engagement

The company is pleased to announce it has engaged ICP Securities to provide automated market-making services, including the use of ICP's proprietary algorithm, ICP Premium, in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation.

Under the agreement, ICP will receive a fee of $7,500 plus applicable taxes per month, payable monthly in advance. The agreement between the company and ICP is for an Initial term of four months and shall be automatically renewed for subsequent one-month terms unless either party provides at least 30 days written notice prior to the end of the initial term or an additional term, as applicable. There are no performance factors contained in the agreement and no stock options or other compensation are being granted in connection with the engagement. ICP and its clients may acquire an interest in the securities of the company in the future.

ICP is an arm's-length party to the company. ICP's market-making activity will be primarily to correct temporary imbalances in the supply and demand of the company's shares. ICP will be responsible for the costs it incurs in buying and selling the company's shares, and no third party will be providing funds or securities for the market-making activities.

About ReGen III Corp.

ReGen III is a cleantech company commercializing its patented ReGen technology to upcycle UMO into high-value Group III base oils. With a focus on creating sustainable solutions that generate better environmental outcomes and compelling economics, the company's ReGen process is expected to reduce carbon dioxide equivalent emissions by 82 per cent as compared with virgin crude derived base oils combusted at end of life.

In 2022, ReGen III completed FEL2 and value engineering for the company's 5,600-barrel-per-day UMO Texas recycling facility, with the support of world-class engineering, construction and licensed vendor teams -- including Koch Project Solutions LLC, PCL Industrial Management Ltd., Koch Modular Process Systems and Duke Technologies.

Operating in an underserved segment of the base oil market, ReGen III aims to become the world's largest producer of sustainable Group III base oil.

We seek Safe Harbor.