Vancouver, British Columbia (Newsfile Corp. – October 8, 2021) — ReGen III Corp. (TSXV: GIII) (OTCQB: ISRJF) (FSE: PN4) (“ReGen III” or the “Company”) is pleased to announce the appointment of Jose Luis Salinas Lanfranco to the Company’s Board of Directors (“the Board”).
Mr. Salinas’s appointment continues the diversification of our Board, strengthens our international project experience and will enable us to implement additional industrial project de-risking strategies.
Jose Luis Salinas Lanfranco is a Peruvian, British and Panamanian businessman. Mr. Salinas specializes in de-risking large-scale industrial and infrastructure projects be it through traditional tools such as contractual development or insurance; or through innovative mechanisms such as corporate engineering, financial vehicles and layering; with the goal to deliver robust asset and financial protections. Mr. Salinas also has extensive business and corporate experience be it as an owner, shareholder, board director, advisor or consultant in a diverse range of public and private operations from mining to the energy and nuclear industries.
Mr. Salinas has been involved in numerous projects, including:
Mr. Salinas speaks fluent English, Spanish and Portuguese. Mr. Salinas studied Law at Pontificia Universidad Catolica and holds two postgraduate degrees. The first an LLM. in International Commercial Law, International Transport and Insurance from Southampton University in the UK. The second an MBA with a focus on Enterprise Risk Management, Finance and Insurance from St. John’s University in New York City.
“On behalf of the Board, I am excited to welcome Jose to our team. Jose has deep and broad international project risk mitigation and finance experience. As we continue to ramp up our project in Texas and identify other locations internationally, Jose’s legal and financial advice will be highly accretive to our success,” commented Greg Clarkes, CEO of ReGen III.
The appointment of Mr. Salinas to the Board is effective immediately.
Options Granted to New Appointee
In connection with the Board appointment, the Company has issued 600,000 stock options at an exercise price of $1.69 per option, valid for a period of two years from the date of grant. The options vest 90 days from the date of grant.
About ReGen III
ReGen III is a cleantech company creating more sustainable solutions that include better environmental outcomes and compelling economics. ReGen III owns a portfolio of patented technologies that enable used motor oil (“UMO”) re-refineries to produce a higher value product mix of base oils than traditional methods, including 55% Group III.
Earlier this year, ReGen III engaged Koch Project Solutions, LLC (“KPS”) to provide project execution management services leading up to the turnkey delivery of its new facility in Texas, whereby KPS will lead ReGen III’s world class engineering, construction and licensed vendor teams (PCL Industrial Management Ltd., Koch Modular Process Systems and Duke Technologies) through the completion of detailed design, construction, commissioning, and start-up. ReGen III has already signed a definitive offtake agreement with bp to purchase 100% of the Company’s base oils produced at the proposed Texas re-refining facility.
For more information on ReGen III or to subscribe to the Company’s mailing list, please visit: www.regeniii.com/investors/corporate-presentations and www.regeniii.com/newsletter-subscription.
On Behalf of the Board of ReGen III Corp.
Chief Executive Officer
For further information, please contact:
Executive Vice President, Corporate Finance
ReGen III Corp.
Tel.: (778) 668-5988
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Certain information contained in this news release constitutes “forward-looking information” or “forward-looking statements” (collectively, “forward-looking information”). Without limiting the foregoing, such forward-looking information includes statements regarding the Company’s business plans, expectations and objectives. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking information. Forward-looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking information is based on information available at the time and/or the Company management’s good faith belief with respect to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company’s control. For additional information with respect to these and other factors and assumptions underlying the forward-looking information made in this news release, see the Company’s most recent Management’s Discussion and Analysis and financial statements and other documents filed by the Company with the Canadian securities commissions and the discussion of risk factors set out therein. Such documents are available at www.sedar.com under the Company’s profile and on the Company’s website, https://www.ReGenIII.com/. The forward-looking information set forth herein reflects the Company’s expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.