CoTec Holdings Corp. Announces Non-Brokered Private Placement

VANCOUVER, BC / ACCESSWIRE / July 3, 2024 / CoTec Holdings Corp. (TSXV:CTH) ("the Corporation") has announced a non-brokered private placement of 5,500,000 common shares. Kings Chapel International Limited will acquire the shares at $0.50 per share, resulting in gross proceeds of $2,750,000.

The proceeds will be used to repay loans from Kings Chapel, fund investment opportunities, and for working capital. Kings Chapel is an insider and Control Person of the Corporation. Julian Treger, a director and CEO of CoTec, is related to Kings Chapel through a family trust.

This transaction qualifies as a related party transaction under MI 61-101. It is exempt from formal valuation and minority shareholder approval due to its market cap not exceeding 25%. The closing is subject to necessary corporate and regulatory approvals, including TSXV approval.

Securities issued will be subject to a four-month hold period for Canadian investors. CoTec focuses on ESG investments and innovative technologies in the metals and minerals sector.