EDMONTON, Alberta, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Regenx Tech Corp., (the "Company" or "Regenx") (TSXV: RGX) (OTCQB: RGXTF) (FSE: YRS WKN: A2DSW3) announces a production update at its Greeneville, TN facility, addressing recent challenges and outlining plans for resolution. The Company will host a Corporate Webinar on September 11, 2024, to provide additional details.
Production Update
Following the successful rights offering last June, Regenx began ramping up production to meet design capacity at its facility in Greeneville, TN. The Company successfully processed over 32,000 lbs of diesel catalytic converter feedstock and a portion of the processed materials, containing more than 30 oz of precious metal, was shipped to Heraeus for final refining. These revenues will be reflected in the Company’s third quarter financial reporting.
During routine preventative maintenance procedures, technicians discovered unusual wear in the reactors. Upon examination by manufacturer technicians, it was determined that the wear was too excessive to repair or continue to operate within safety protocols. This issue only became apparent when the reactors were utilized at increased capacity levels.
Regenx’s technical and operational teams in conjunction with equipment manufacturers have been working diligently to address this challenge and have developed a solution that is currently being implemented. These plans include procedures to prevent similar issues in the future.
Upcoming Corporate Webinar
Regenx will provide additional information on its plans and the timeline for resuming full operations as part of a Corporate Webinar to be held on Wednesday, September 11, 2024, at 11am ET. Regenx invites all shareholders and other interested parties to register for the webinar at the link below. If you have questions that you would like management to address on the webinar, please submit them in the registration form for review and consideration.
Date: Wednesday, September 11th, 2024
Time: 11am ET
Register Here
About Regenx
Regenx Tech Corp. (TSXV: RGX) (OTCQB: RGXTF) (FSE: YRS WKN: A2DSW3) 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 operations in the United States. For further information visit: www.regenx.tech
For further information contact:
REGENX TECH CORP.
Investors@Regenx.Tech
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