EDMONTON, Alberta, April 12, 2024 (GLOBE NEWSWIRE) -- Regenx Tech Corp., (the "Corporation" or "Regenx") (CSE: RGX) (OTCQB: RGXTF) (FSE: YRS WKN: A2DSW3) announces that, further to its news release dated April 11, 2024, in connection with the recent change of auditor that will result in delays in the completion of its audit, the Corporation will be unable to meet the filing deadline of April 29, 2024, for filing of the following continuous disclosure documents (collectively, the Annual Filings):
¢ the Corporation's Annual Audited Financial Statements for the year ended December 31, 2023, as required by section 4.2 of National Instrument 51-102 - Continuous Disclosure Obligations (NI 51- 102);
¢ the Corporation's Management Discussion & Analysis for the year ended December 31, 2023, as required by section 5.1(2) of NI 51-102; and
¢ the certification of the annual filings for the year ended December 31, 2023.
The delay is a result of the need to change the auditor of the Corporation in early April 2024, due to the fact that its former auditor was required to cease to perform all assurance engagement work by the Chartered Professional Accountants of Alberta.
In response to the Annual Filings delay, the Corporation has applied to the Alberta Securities Commission for a management cease trade order (MCTO) under National Policy 12-203 “ Management Cease Trade Orders ("NP 12-203") that will prohibit the management of the Corporation from trading in the securities of the Corporation until such time as the Annual Filings are filed. No decision has yet been made by the Alberta Securities Commission on this application. The Alberta Securities Commission may grant the application and issue the MCTO or it may impose an issuer cease trade order if the Annual Filings are not filed in a timely fashion.
The Corporation continues to work to complete the Corporation's annual financial statements, and expects to file the Annual Filings by May 29, 2024, and will issue a news release once the Annual Filings have been filed. Regenx has made all efforts and allocated all available resources to the preparation, completion and filing of the Annual Filings. Until the Corporation files the Annual Filings, it will comply with the alternative information guidelines set out in NP 12-203. The guidelines, among other things, require the Corporation to issue bi-weekly default status reports, in the form of news releases, for so long as the Annual Filings have not been filed.
Until the Corporation has filed the Annual Filings, members of the Corporation's management and other insiders are subject to an insider trading black-out policy as per its internal Insider Trading Policy that is consistent with the principles in Section 9 of National Policy 11-207 - Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions. The Corporation confirms that, other than as disclosed in prior press releases and material change reports, there have been no material business developments since the filing CAN: 52286093.2 on November 29, 2023, of the Corporation's interim financial reports for the period ended September 30, 2023. There are no insolvency proceedings involving the Corporation.
About Regenx
Regenx is positioned for growth in the CleanTech 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. For further information visit www.Regenx.Tech
For further information contact
Regenx Tech Corp.Greg PenduraCEO 780-800-0726investors@regenx.tech
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.