EDMONTON, Alberta, Jan. 19, 2026 (GLOBE NEWSWIRE) -- Regenx Tech Corp. (the "Company" or "Regenx") (CSE: RGX) (OTCQB: RGXTF) (FSE: YRS WKN: A2DSW3) is providing an update to shareholders regarding the status of its ongoing audit, a debenture maturity extension, and an operational transition within the Company.
Audit Update
Regenx wishes to acknowledge shareholder frustration regarding the timing of its audit and the resulting cease trade order ("CTO"). The Company is disappointed with the prolonged audit timeline and the uncertainty this has created for stakeholders.
The audit has expanded significantly in scope beyond original expectations. This expansion has been driven by several factors, including:
- The first-time audit of multiple subsidiaries and legacy assets, including Iron Bull Mining (South Africa) and MDC (Spain);
- Re-verification of prior-year balances and transactions, including 2023 comparative information;
- The reassessment and formal documentation of several complex accounting policies under IFRS, including functional currency determinations, foreign exchange treatment, equity-accounted investments, asset retirement obligations, and financial instruments;
- Changes to certain accounting interpretations that had previously passed audit review, resulting in re-testing and restatement work for prior periods.
As a result, the audit process has evolved well beyond a routine year-end engagement and has required a level of testing and documentation typically associated with a much larger organization.
Regenx confirms that all requested information and schedules have been provided to the auditors. At this stage, the remaining work is primarily related to audit testing, finalization procedures, and partner review.
Emily Richardson, CFO Regenx Tech stated, "I wish to be unequivocal: there are no undisclosed issues or 'surprises' expected in the audited financial statements. The delays are procedural and scope-related, not substantive and are related to complex accounting treatments that include the use of estimates and projections. The result of changes in treatments effect how items are classified in the financial statements but do not change the fundamental transactions. Regenx is not withholding information, nor is it aware of any matters that would materially alter stakeholders' understanding of the Company's financial position beyond what has already been communicated."
The Company is unable to provide definitive guidance on the timing of the completion of the audit as it is dependent on the auditor being satisfied with the results of their proscribed work. Regenx is cooperating fully and pushing for a speedy completion of the outstanding items.
The Company will apply to Exchange to have the CTO lifted as soon as the audited financial statements and all other outstanding reports are filed.
Debenture Extension
Regenx also announces that debentures originally scheduled to mature in January 2026 have been extended to January 31, 2027. All other terms and conditions of the debentures remain unchanged. The Company appreciates the continued support and flexibility of its debenture holders during this period.
Operational Update - Newport, Tennessee
The Company further announces that Bob Fair has concluded his formal engagement with Regenx, effective December 31, 2025. Mr. Fair accepted another full-time position in the summer of 2025 but continued to contract with Regenx through year-end.
Rick Purdy, President Regenx USA stated, "I would like to thank Bob for the key role he played in the commissioning and setup of the Newport, Tennessee processing facility. The operational team currently in place at the Newport facility is well-positioned to continue operations successfully, building on the foundation established under Mr. Fair's leadership. While his contract has expired, Bob has agreed to remain available on an as-needed basis."
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.
Investors@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.
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.
