Mr. Greg Pendura reports

REGENX ANNOUNCES FUNDING UPDATE

On Sept. 30, 2023, Regenx Tech Corp. closed the second tranche of its previously announced financing for gross proceeds of $840,000, and $2,953,830 in aggregate total. The closing of the second tranche of the offering is subject to all required regulatory approvals, including the acceptance of the Canadian Securities Exchange.

Due to the high level of interest and demand in the debenture, the offering has been increased up to another $1-million with a planned closing of Oct. 31, 2023.

The offering is a non-brokered private placement of unsecured convertible debentures. The debentures bear interest at the rate of 15 per cent per annum and will mature on July 1, 2025. The debentures will be convertible at the holder's option into common shares of the company at a conversion price of: (i) 10.5 cents per common share until one year from the closing date; and (ii) 15 cents per common share for the period from the date following one year from the closing date until the maturity date. The corporation can redeem the debentures at any time upon 10 days prior written notice.

The company will not be paying finder's fees in the first tranche closing.

The company intends to use the proceeds from the offering for the commercial ramp-up of its catalytic converter module one and general working capital purposes.

About Regenx Tech Corp.

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