SPOKANE, WASHINGTON--(Marketwired - Jan. 6, 2017) - REGI U.S., Inc. ("REGI" or "RGUS" or "the Company")
The Board of Directors of REGI U.S. Inc. (OTC PINK:RGUS) is pleased to announce that all motions put forward for approval at its Special Shareholders meeting on January 6, 2017 were passed, specifically,
- to approve an amendment to our Articles of Incorporation to increase the authorized number of shares of our common stock from 100,000,000 shares of common stock, with no par value, to 150,000,000 shares of common stock, with no par value.
- to elect Paul W. Chute, Paul Porter, Jina Liu, Shaojun Zhang and Susanne Robertson as directors to serve our company for the ensuing year and until their successors are elected.
Paul W. Chute, President & CEO, applauds the shareholders for their overwhelming vote of confidence in our Company's direction.
Regi U.S., Inc. continues to advance on multiple RadMax device applications. Recently we added our eighth engineer, specialized in Electrical Engineering. We continue to spin test our 375 hp. Diesel and completing our Air-Pump prototype of which we anticipate testing results this month.
We continue to evolve our NEW WEB SITE www.radmaxtech.com, and encourage all investors to follow our progress.
ON BEHALF OF THE BOARD OF DIRECTORS
Regi U.S., Inc., Paul Chute
ABOUT REGI U.S., INC.
RadMax Technologies, Inc. the wholly owned subsidiary of REGI U.S., Inc. is developing for commercialization an improved axial vane type rotary engine known as the RadMax™ rotary technology used in the revolutionary design of lightweight and high efficiency engines, compressors and pumps. The RadMax™ engine has only two unique moving parts, the vanes (up to 12) and the rotor, compared to the 40 moving parts in a simple four-cylinder piston engine. This innovative design makes it possible to produce up to 24 continuous power impulses per one rotation that is vibration-free and extremely quiet. The RadMax™ engine also has several capabilities allowing it to operate on fuels including gasoline, natural gas, hydrogen, propane and diesel. For more information, please visit radmaxtech.com
Statements in this press release regarding the business of and REGI U.S, Inc. (together the "Companies'") which are not historical facts are "forward-looking statements" that involve risks and uncertainties, including management's expectation on closing the second tranche of the private placement, certain of which are beyond the Companies' control. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.
Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: the impact of competitive products and pricing, the Companies' dependence on third parties and licensing/service supply agreements, and the ability of competitors to license the same technologies as the Companies or develop or license other functionally equivalent technologies; financing requirements; changes in laws, rules and regulations applicable to the Companies and changes in how they are interpreted and enforced, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in the United States, industry conditions, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange, stock market volatility and market valuations of companies with respect to announced transactions. The Companies' actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements, including those described in Regi U.S., Inc.'s financial statements, management discussion and analysis and material change reports filed with the United States Securities and Exchange Commission at www.sec.gov, and REGI's Form 10-KSB annual report filed with the United States Securities and Exchange Commission at www.sec.gov. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Companies will derive therefrom.
Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Companies or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Companies do not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.