05:00:50 EDT Thu 02 May 2024
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Regenx Tech Corp
Symbol RGX
Shares Issued 347,178,603
Close 2023-09-25 C$ 0.105
Market Cap C$ 36,453,753
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Regenx completes commercial plant in Tennessee

2023-09-25 09:26 ET - News Release

Mr. Greg Pendura reports

REGENX BEGINS COMMERCIAL PRODUCTION

Regenx Tech Corp. has achieved a significant milestone in the development of its first commercial plant located in Greeneville, Tenn. The final step has been the successful installation of a larger gas line and permit approval. This achievement is an important step forward for the company as it signifies the corporation's readiness to transition from the commissioning phase to ramping up commercial production to full capacity. The completion of Module 1 has paved the way toward environmental impact and economic opportunity.

"With the successful installation of the larger gas line, we are now poised to harness the full potential of our groundbreaking clean technology. This accomplishment reaffirms our commitment to advancing innovation and reinforces our position as a pioneering force in the industry," stated Greg Pendura, chief executive officer of Regenx Tech.

"As we prepare to ramp up production to full capacity, it is essential to acknowledge the significant achievements and hard work of our entire team since the completion of pilot plant protocols. These accomplishments reflect our dedication to growth, sustainability, and making a positive impact on the industry and our community. The team has been able to achieve incredible results in what the industry would consider an extremely short timeline. Some of these key milestones include:

  • "Listed on CSE [Canadian Securities Exchange] exchange as a technology issuer -- enhancing our visibility and access to capital markets;
  • "Secured production facility location -- in Greeneville, Tenn., and completed the required upgrades needed for it to meet production and environmental standards;
  • "Strong government and community support -- upon our announcement of locating to Greeneville, the company received unwavering support from local government bodies and the community. This support was further reinforced by our commitment to being a responsible corporate citizen;
  • "Constructed and commissioned Module 1 of the commercial plant -- with the assistance of dedicated contractors, the company was able to design and fabricate a first-of-its-kind commercial scale processing system; in addition, hired and trained the necessary operational and support staff for commercial production and designed policy and procedures to allow for the safe, efficient operation of the system.
  • "Featured by BNN on national television -- received national recognition when featured on BNN, a testament to the significance of our accomplishments;
  • "Industry peers show strong interest -- Regenx innovative technology has garnered significant interest from industry peers, highlighting the potential for transformative change within the sector; excellent response to corporate presentation at IPMI (International Precious Metal Institute) conference in Scottsdale in June;
  • "Signed NDA [non-disclosure agreement] with large industry player -- entered into a non-disclosure agreement with a major industry player, highlighting the recognition of our technology's economic potential;
  • "Customer for black powder -- agreement with a large refiner, who will be the initial customer for the concentrate (black powder) that Module 1 produces for present and future production outputs;
  • "Production of black powder -- the company was able to produce a commercially viable, very-high-grade concentrate during the commissioning process;
  • "Commence commercial production -- begin scale-up to 2.5-tonne-per-day output."

About Regenx Tech Corp.

Regenx is positioned for growth in the clean technology sector through the development and commercialization of its environmentally friendly processing technologies for the recovery of precious metals. Its initial focus is the extraction of platinum and palladium from diesel catalytic converters with its business partner, Davis Recycling.

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