Regen III Appoints Catherine Banat to the Board of Directors and Grants Options
Vancouver, British Columbia--(Newsfile Corp. - January 12, 2022) - ReGen III Corp. (TSXV: GIII) (OTCQB: ISRJF) (FSE: PN4) ("ReGen III" or the "Company") is pleased to announce the appointment of Catherine Banat to the Company's Board of Directors ("the Board").
Catherine's appointment continues the diversification of our Board, strengthens the depth of our international finance experience and will result in robust environmental, societal and governance ("ESG") enhancements throughout the Company and its projects.
Catherine is a financial services executive with over three decades of leadership experience in capital markets innovation, strategy, ESG, and risk oversight. Catherine has worked at some of the largest global financial institutions including Goldman Sachs, JP Morgan and Lehman Brothers, the 4th largest US public pension plan, the New York City Retirement System, and several asset managers across all asset classes including RBC Global Asset Management ("RBC") and Paloma Partners. A strategic visionary and thinker, Catherine has repeatedly built and grown successful businesses, introduced innovative products, and launched new markets.
A recognized thought leader in sustainable investing, Ms. Banat was introduced to ESG while at the New York City Retirement System. In her role leading strategic initiatives for the pension plan, she recognized the value proposition of integrating environmental, social, and governance factors into traditional financial analysis. Since 2011, Ms. Banat has championed the contribution sustainable business practices can add to shareholder value and the management of business risks.
A long-term advocate for diversity, Catherine has consistently seen that diverse teams make better decisions. Ms. Banat was recognized for her contributions to mentoring and supporting women by the 2020 BPeace Women Forward Gold Award for Lifetime Impact.
Catherine holds an MBA from the Columbia University Graduate School of Business, a Bachelor of Science in Economics from the Wharton School, and a Bachelor of Arts from the University of Pennsylvania.
"On behalf of the Board, I am excited to welcome Catherine to our team. Catherine has a rich history with some of the world's leading financial institutions where she identified and integrated sustainable business practices and impactful investment strategies. We know Catherine had many choices after she left RBC and we are thrilled she chose ReGen III. As we advance our recycling project in Texas and identify other locations internationally, Catherine's leadership of our ESG Committee will be accretive to building a more diverse corporate platform, that will not only strengthen our team fabric but further empower us to address many of the U.N.'s Sustainable Development Goals," commented Greg Clarkes, CEO of ReGen III.
The appointment of Ms. Banat to the Board is effective immediately.
Options Granted to New Director and Corporate Secretary
In connection with the Board appointment, the Company has issued 600,000 stock options to Catherine Banat at an exercise price of $1.77 per option, valid for a period of two years from the date of grant. The options vest 90 days from the date of grant.
The Company has also issued 75,000 stock options to its Corporate Secretary at an exercise price of $1.77 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., Studi Tecnologie Progetti S.p.A., 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 recycling 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
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 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.
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