Regenx Tech Corp Provides Operations Update

Associated Press

2 days ago

EDMONTON, Alberta, July 03, 2025 (GLOBE NEWSWIRE) -- Regenx Tech Corp., (the 'Company' or 'Regenx') (CSE: RGX) (OTCQB: RGXTF) is providing an update on the status of the restart of operations at its new facility in Newport, Tennessee as well as the application for funding from the US Department of Energy.
Permit Application
Regenx is pleased to announce that all the necessary permits were granted on July 2, 2025. These permits authorize the Company to complete the construction of operations at the new facility and allows the processing of material to commence. This marks an important milestone in the restart of operations in Newport, Tennessee. The permit application, submitted on December 18, 2024, involved close collaboration with regulatory agencies and local authorities.
Rick Purdy, President of Regenx USA, commented: 'Securing the permits is a crucial step forward for Regenx. With the necessary approvals in place, our team is set to complete the plant construction and begin processing material by the end of July. While full-scale production will be achieved over time, these critical steps position us well to accelerate our progress and work toward our operational milestones. The Company extends its gratitude to all stakeholders for their ongoing support throughout this process.'
The recent upgrades and efficiencies in Regenx's processes are expected to improve overall site performance. The Company is focused on gradually increasing production capacity, aiming to reach a processing rate of 4,000 pounds of milled feedstock per day as it moves toward full capacity.
Department of Energy Proposal
Regenx is pleased to announce that it has received a favorable response from the U.S. Department of Energy (DOE) concerning its proposal titled 'Domestic Recovery of Critical Minerals from End-of-Life Catalytic Converters,' submitted on April 24, 2025. Following an initial review, the DOE determined that the proposal aligns with its mission and adheres to Federal Acquisition Regulation 15.603(c).
The Department of Energy has requested additional details to further assess Regenx's eligibility for the requested government funding. Regenx looks forward to providing the necessary information to support the evaluation process.
'We are excited by the DOE's interest in our proposal,' said Don Weatherbee, Chief Executive Officer of Regenx. 'This initiative presents a valuable opportunity for Regenx to contribute to securing critical mineral supply chains vital to national interests. We are eager to expand upon our initial submission and demonstrate how our innovative technology can advance sustainable recovery of these essential resources.'
About Regenx
Regenx Tech is a cleantech, urban mining company that recycles end-of-life diesel catalytic converters using its innovative and environmentally friendly proprietary technology for the recovery of precious metals, such as platinum and palladium. Learn more at www.regenx.tech.
For further information contact:
REGENX TECH CORP. ‎
[email protected]
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In particular, this news release contains forward-looking information regarding: the business of the Company, including future plans and objectives, and the debentures. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects Regenx's current beliefs and is based on information currently available to Regenx and on assumptions Regenx believes are reasonable. These assumptions include, but are not limited to: the underlying value of Regenx and its common shares, Regenx's current and initial understanding and analysis of its projects and the development required for such projects; the costs of Regenx's projects; Regenx's general and administrative costs remaining constant; and the market acceptance of Regenx's business strategy. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Regenx to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; industry condition; volatility of commodity prices; environmental risks; operational risks; general capital market conditions and market prices for securities; delay or failure to receive board or regulatory approvals; the actual results of future operations; competition; changes in legislation, including environmental legislation, ‎affecting Regenx; the timing and availability of external financing on acceptable terms; and lack of qualified, skilled labour or loss of key individuals. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in Regenx's disclosure documents on the SEDAR+ website at www.sedarplus.ca. Although Regenx has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Regenx as of the date of this news release and, accordingly, is subject to change after such date. However, Regenx expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.