Gregory Mark Clarkes, CEO and Director, acquired 750,000 Common Shares on a direct ownership basis at a price of $0.400 through a prospectus or prospectus exempt offering on November 16th, 2018. The insider also acquired 375,000 Warrants on a direct ownership basis at an exercise price of $0.700 for 12 months. This represents a $300,000 investment into the company's shares and an account share holdings change of 19.0%.
On the same terms, Paul Peter DiPasquale, a Director, acquired 200,000 Common Shares and 100,000 Warrants on a direct ownership basis. This represents a $80,000 investment into the company's shares and an account share holdings change of 32.5%. Bryan Thomas Nethery, a Director, acquired 75,000 Common Shares and 37,500 Warrants on a direct ownership basis. This represents a $30,000 investment into the company's shares and an account share holdings change of 13.2%.
Gen III Oil is in the Oil & Gas Refining and Marketing Sub Industry Group under the Energy Sector.
Gen III Oil Corp is a Canada-based oil processing company. The Company owns the ReGen re-refining technology. The Company provides the ReGen technology which re-refines used motor oil (UMO) to produce Group III base lubricating oil (synthetic grade oil) in marketable quantities. Group III base lubricating oil sells for approximately 50% more than current re-refinery produced Group II products. The Company's ReGen process utilizes common technologies in use throughout the world, but in a configuration and at specific temperature and pressure settings.
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