ReGen III raises $1.53 million in second tranche of private placement

ReGen III Corp. (TSXV: GIII) closed the second tranche of its private placement, issuing 7.65 million units at $0.20 per unit for gross proceeds of $1.53 million, according to a company statement.

Combined with the initial tranche, the clean technology company has raised $3.44 million through the issuance of 17.19 million units. The company expects to close a third tranche by April 1, 2026, bringing total gross proceeds to $4 million.

Each unit consists of one common share and one-half warrant. The warrants allow holders to purchase additional shares at $0.30 per share for three years from the issuance date. Securities from the second tranche are subject to a four-month hold period ending July 28, 2026.

The company paid $47,750 in finders' fees related to the second tranche closing. Net proceeds will fund working capital, general corporate purposes and debt repayment.

Company insiders purchased 2.88 million units in the second tranche, constituting a related party transaction. ReGen III relied on exemptions from formal valuation and minority shareholder approval requirements as the transaction value did not exceed 25% of the company's market capitalization.

ReGen III specializes in converting used motor oil into Group III base oils using proprietary technology. The company operates in the clean technology sector, focusing on the circular economy approach to lubricant production.

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