Regenx Announces Facility Update
Regenx Tech Corp has resumed operations at its Greeneville facility following flood damage from Hurricane Helene, operating with temporary equipment and rehiring previously laid-off employees. The company announced a strategic relocation to a new facility in Newport, Tennessee, after their current property's lease won't be renewed. The new location, secured with a lease offering options for up to ten years, better aligns with Regenx's operational and economic goals. The transition began on November 1, 2024, with completion expected within a month. During the transition, the company maintains processing capacity of approximately 1,000 lbs. per day using temporary equipment.
Regenx Tech Corp ha ripreso le operazioni presso il proprio impianto di Greeneville dopo i danni causati dall'alluvione dell'uragano Helene, utilizzando attrezzature temporanee e riassumendo i dipendenti precedentemente licenziati. L'azienda ha annunciato un trasferimento strategico in una nuova sede a Newport, Tennessee, poiché il contratto di locazione attuale non sarà rinnovato. La nuova posizione, garantita con un contratto di locazione che offre opzioni fino a dieci anni, è meglio allineata con gli obiettivi operativi ed economici di Regenx. La transizione è iniziata il 1 novembre 2024, con completamento previsto entro un mese. Durante la transizione, l'azienda mantiene una capacità di lavorazione di circa 1.000 lbs. al giorno utilizzando attrezzature temporanee.
Regenx Tech Corp ha reanudado operaciones en su instalación de Greeneville después de los daños por inundación causados por el huracán Helene, operando con equipo temporal y recontratando a empleados previamente despedidos. La compañía anunció una reubicación estratégica a una nueva instalación en Newport, Tennessee, ya que el contrato de arrendamiento de su propiedad actual no se renovará. La nueva ubicación, asegurada con un contrato de arrendamiento que ofrece opciones de hasta diez años, se alinea mejor con los objetivos operativos y económicos de Regenx. La transición comenzó el 1 de noviembre de 2024, con una finalización esperada dentro de un mes. Durante la transición, la empresa mantiene una capacidad de procesamiento de aproximadamente 1.000 lbs. por día utilizando equipo temporal.
Regenx Tech Corp는 허리케인 헬렌으로 인한 홍수 피해 후 그리너빌 시설에서 운영을 재개하였으며, 임시 장비로 운영하고 이전에 해고된 직원을 재고용하고 있습니다. 이 회사는 현재 부동산 임대가 갱신되지 않을 예정이므로 테네시주 뉴포트에 있는 새로운 시설로 전략적 이전을 발표했습니다. 최대 10년 옵션을 제공하는 임대 계약으로 확보된 새로운 위치는 Regenx의 운영 및 경제적 목표와 더 잘 일치합니다. 전환은 2024년 11월 1일에 시작되며, 한 달 이내에 완료될 것으로 예상됩니다. 전환 기간 동안 회사는 임시 장비를 사용하여 약 1,000 lbs. 하루 처리 용량을 유지합니다.
Regenx Tech Corp a repris ses opérations dans son installation de Greeneville après des dégâts causés par les inondations de l'ouragan Helene, en utilisant des équipements temporaires et en réembauchent des employés précédemment licenciés. L'entreprise a annoncé un déménagement stratégique vers une nouvelle installation à Newport, dans le Tennessee, car le bail de sa propriété actuelle ne sera pas renouvelé. Le nouvel emplacement, sécurisé avec un bail offrant des options pouvant aller jusqu'à dix ans, s'aligne mieux sur les objectifs opérationnels et économiques de Regenx. La transition a commencé le 1er novembre 2024, avec une finalisation prévue dans un mois. Pendant la transition, l'entreprise maintient une capacité de traitement d'environ 1.000 lbs. par jour en utilisant des équipements temporaires.
Regenx Tech Corp hat nach den Flutschäden durch den Hurrikan Helene den Betrieb an seinem Standort in Greeneville wieder aufgenommen, arbeitet mit temporären Geräten und stellt zuvor entlassene Mitarbeiter wieder ein. Das Unternehmen gab eine strategische Verlagerung in eine neue Einrichtung in Newport, Tennessee, bekannt, da der aktuelle Mietvertrag nicht verlängert wird. Der neue Standort, der mit einem Mietvertrag gesichert ist, der Optionen für bis zu zehn Jahre bietet, stimmt besser mit den betrieblichen und wirtschaftlichen Zielen von Regenx überein. Der Übergang begann am 1. November 2024, und der Abschluss wird innerhalb eines Monats erwartet. Während des Übergangs hält das Unternehmen eine Verarbeitungsfähigkeit von etwa 1.000 lbs. pro Tag mit temporären Geräten aufrecht.
- Resumed operations after hurricane-related shutdown
- Secured new facility with 10-year lease options
- Maintaining 1,000 lbs daily processing capacity during transition
- Rehired previously laid-off employees
- Forced relocation due to non-renewal of current lease
- Operating with temporary equipment
- Incurring relocation costs and potential operational disruptions
Edmonton, ALBERTA, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Regenx Tech Corp. (“Regenx” or the “Company”) (TSXV: RGX) (OTCQB: RGXTF) is pleased to announce that operations at its Greeneville facility have resumed, following the unprecedented flooding caused by Hurricane Helene. This marks a milestone in the Company’s recovery efforts. Several previously laid-off employees have rejoined the team, and the current facility is operating using temporary equipment until permanent replacements are installed.
Facility Relocation to Support Long-Term Growth
New ownership acquired the current Greeneville property earlier this year and indicated in September that they would not renew Regenx’s lease beyond the current extension. Following a strategic review, the Company identified a more suitable property nearby in Newport, Tennessee, that fills Regenx’s long-term operational and economic goals. A new lease has been signed, which provides options for up to ten years and secures the Newport facility as the Company’s primary site.
“Transitioning to Newport presents an opportunity to support our long-term objectives,” said Don Weatherbee, CEO of Regenx. “The new facility is a better fit for our production needs, and moving now, while we are still transitioning equipment, minimizes future disruptions and unnecessary expenses related to expansion.”
Streamlined Transition Plan
The Company gained access to the Newport site on November 1, 2024, and relocation is expected to be complete within the next month. The temporary equipment allows Regenx to maintain operations, processing approximately 1,000 lbs. per day, ensuring continuity during this transitional period. Additionally, new permanent equipment will be delivered directly to the Newport facility, enabling seamless installation and integration.
About Regenx
Regenx is advancing the Clean Tech sector through its innovative and environmentally friendly technologies that recover precious metals, such as platinum and palladium, from diesel catalytic converters. 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.
FAQ
When will Regenx Tech (RGXTF) complete its facility relocation to Newport?
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Why is Regenx Tech (RGXTF) relocating from Greeneville to Newport?
