February 24, 2023

ReGen III Provides Corporate Update

Vancouver, British Columbia — (Newsfile Corp. – February 24, 2023) — ReGen III Corp. (TSXV: GIII) (OTCQX: ISRJF) (FSE: PN4) (“ReGen III” or the “Company”) is pleased to provide a general corporate update and announce the engagement of National Bank Financial Inc.

Over the past two quarters, ReGen III has been actively advancing on FEL3 (FEED). The Company is continuing to progress all opportunities for project-level financing, including with strategic investors, industry participants and private equity investors. Additionally, the Company is in active discussions to monetize voluntary carbon credits with a multinational third-party and further details are expected to be released shortly.

National Bank Financial Inc. has been engaged to provide financial advisory and investment banking services in support of existing and proposed project-level financing structures, and to secure US$150 million. National Bank Financial Inc. will also advise and assist the Company with the evaluation and execution of other strategic opportunities. National Bank Financial Inc. is a wholly owned subsidiary of National Bank of Canada, a leading, full service Canadian financial institution.

Greg Clarkes, Chairman & CEO of ReGen III stated, “We look forward to expanding our working relationship with one of Canada’s leading investment banks. We will continue to identify and maximize opportunities for our shareholders with the support of National Bank Financial Inc.’s capital markets expertise and global network of industrial and cleantech sector investors.

“Our Texas facility presents an opportunity to generate industry-leading economics while helping to fight climate change, by leveraging proven refining technologies to upcycle UMO to a Group III base oil. This banking relationship will introduce our unique project to additional audiences, with the goal of securing a financing package to purchase long lead items and expedite our construction schedule.”

About ReGen III

ReGen III is a cleantech company commercializing disruptive, patented technology to recycle used motor oil (“UMO”) into high-value Group III base oils. With a focus on creating sustainable solutions that generate better environmental outcomes and compelling economics, the Company’s ReGen™ process is expected to reduce CO2e emissions by 82% as compared to virgin crude derived base oils combusted at end of life.

ReGen III has a definitive offtake agreement with bp to purchase 100% of the sustainable base oils produced at the Company’s 5,600 bpd UMO Texas recycling facility. In 2022, ReGen III completed FEL2 and value engineering for the facility, where world class engineering, construction and licensed vendor teams – including Koch Project Solutions, LLC, PCL Industrial Management Ltd., Koch Modular Process Systems and Duke Technologies – are providing detailed design, construction, commissioning, and start-up services.

Operating in an underserved segment of the base oil market, ReGen III aims to become the world’s largest producer of sustainable Group III base oil.

For more information on ReGen III or to subscribe to the Company’s mailing list, please visit: and

For further information, please contact:
Kimberly Hedlin
Vice President, Corporate Finance
Tel.: (403) 921-9012

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information other than statements of historical facts 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, capital costs 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 under the Company’s profile and on the Company’s website, 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.