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Regenx Completes Convertible Debenture Offering Closure

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Regenx Completes Convertible Debenture Offering

Regenx Tech Corp. has successfully closed its previously announced financing, generating gross proceeds of $3,030,830. The offering, a non-brokered private placement of unsecured convertible debentures, bears interest at a rate of fifteen percent (15%) per annum and will mature on July 1, 2025. The debentures can be converted into common shares of the company at specified conversion prices. The proceeds from the offering will be used to support the commercial scale-up of the Catalytic Converter Module One and for general working capital purposes. It is important to note that the common shares to be issued under the offering have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States without proper registration or exemption. Regenx Tech Corp. is focused on developing environmentally friendly processing technologies for the recovery of precious metals in the Clean Tech sector.

Implications for New Businesses

The successful closure of Regenx Tech Corp's convertible debenture offering signifies a significant milestone in the company's financial journey. This development could have far-reaching implications for new businesses, particularly those in the Clean Tech sector.

Financing Opportunities

Firstly, this move demonstrates the potential of non-brokered private placements as a viable financing strategy. New businesses, especially startups, often grapple with securing funding. Regenx's success could serve as a blueprint for these companies, showing that convertible debentures can be an effective way to attract investment.
Regulatory Considerations
However, the point about the common shares not being registered under the U.S. Securities Act of 1933 underscores the importance of regulatory considerations in such financial exercises. New businesses must ensure compliance with relevant securities laws to avoid legal complications. In conclusion, while Regenx's successful convertible debenture offering presents a promising financing model for new businesses, it also emphasizes the need for thorough regulatory compliance. As such, new businesses can view this development as both an opportunity and a reminder of the complexities of business financing.
Story First Published at: https://financialpost.com/globe-newswire/regenx-announces-closing-of-convertible-debenture-offering
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