Spokane, Washington, April 30, 2018 (GLOBE NEWSWIRE) -- REGI U.S., INC. (“REGI” or “RGUS” or "the Company") RGUS (OTCMKTS) The Board of Directors, Regi U.S., Inc. and its wholly owned subsidiary, RadMax Technologies, Inc., announce that all motions put forward for approval at its Annual Shareholders meeting on April 30th, 2018 were passed, specifically;
- To elect Paul W. Chute, Paul Porter, Susanne Robertson, and Michael S. Urso as Directors to serve our company for the ensuing year or until their successors are elected and qualified.
- To set Board of Directors’ annual compensation at US $5,000, payable in either cash or equivalent in the Company’s common shares;
- Ratification of Fruci & Associates as independent auditors of REGI U.S., INC. for the fiscal year ending April 30th, 2018.
The newly elected board of directors subsequently appointed Michael S. Urso as its new Chief Executive Officer, (CEO), and Jeff S. White, as its new Chief Financial Officer, (CFO). Lynn L. Petersen will be promoted to Vice President of Business Development. Both Mr. Urso and Mr. White bring extensive experience within large corporate organizations as well as taking startup companies and new technologies forward to commercial success. Mr. Petersen’s advancement recognizes his successful engagement of serious commercial partners’ interests and commitments.
The board recognized Mr. Chute and Ms. Huang for their dedication and effort rescuing Regi U.S., Inc. and it’s RadMax Technology and helping position the current company for continued growth and success. Mr. Chute will remain on the Board of Directors while Ms. Huang will remain as a consultant.
We encourage all investors and interested parties to follow our progress routinely posted on our website radmaxtech.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Regi U.S., Inc.
Michal S. Urso, CEO
CONTACTS:
(509) 474-1040
murso@radmaxtech.com
7520 N. Market St. STE # 10
Spokane, WA. 99217-7800
ABOUT REGI U.S., INC
RadMax Technologies, Inc., the wholly owned subsidiary of REGI U.S., Inc., is a research and product development company that is designing, developing and proving a family of smaller, lighter and more energy-efficient rotary engines, compressors, pumps and gas expanders for civilian, commercial and government applications. Our focus is on developing advanced devices that reduce carbon footprint, reduce device size, weight and parts counts, and increase fuel and manufacturing efficiencies. Based on our innovative and patented RadMaxÒ axial van-type technology, our devices are designed for high output to weight ratio and are easily scalable from small to very large. For more information, please visit radmaxtech.com
READER ADVISORY
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, 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-K 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.