The warrants had an exercise price of $1.20 per share, resulting in gross proceeds to the Company of approximately $1 million. Following the exercise of the warrants, the Company will have 99,940,639 issued and outstanding shares of common stock.
Julian Treger, Chief Executive Officer of CoTec, commented: “The exercise of these warrants further strengthens CoTec’s balance sheet and reflects Kings Chapel’s continued support for the company’s long-term strategy. We remain focused on disciplined execution and driving value across the portfolio.”
Kings Chapel is a trust associated with Julian Treger and remains a long-term shareholder of CoTec.
The proceeds from the warrant exercise further increase CoTec’s financial flexibility and support the development of the company’s portfolio of strategic materials and resource recovery investments.
About CoTec
CoTec Holdings Corp. (TSXV:CTH,OTC:CTHCF)(OTCQB:CTHCF) is redefining the future of resource extraction and recycling. Focused on rare earth magnets and strategic materials, CoTec integrates breakthrough technologies with strategic assets to unlock safe, sustainable and low-cost supply chains.
CoTec’s mission is clear: to accelerate the energy transition while strengthening strategic mineral supply chains for the countries in which we operate. By investing in and deploying disruptive technologies, the company delivers capital-efficient, scalable solutions that transform marginal assets, residues, waste streams and recycled products into high-value critical minerals.
From the HyProMag USA magnet recycling joint venture in Texas, to iron waste reprocessing in Québec, to next-generation copper and iron solutions backed by global majors, CoTec is building a diversified portfolio with long-term growth, fast cash flow potential and high barriers to entry. The result is a differentiated platform at the intersection of technology, sustainability and strategic materials.
For more information, please visit www.cotec.ca
For more information please contact:
Eugene Hercun, VP Finance, +1 604 537 2413
Forward-Looking Information Cautionary Statement
Statements in this press release about the Company’s operations that are not historical facts are “forward-looking statements” that involve risks and uncertainties, including statements regarding management’s expectations regarding the adoption of new technologies in the mineral extraction industry and the benefits to the Company that may result from such statements. Because forward-looking statements relate to future events and circumstances, by their nature they involve inherent risks and uncertainties. In any event, actual results may differ materially from those currently anticipated in such statements. For more details about the risks and uncertainties facing the Company, please refer to “Risk Factors” in the Company’s filing statement dated April 6, 2022, a copy of which can be found under the Company’s SEDAR profile at www.sedar.com. The Company assumes no responsibility to update any forward-looking statements contained in this press release, except as required by law. Readers should not place undue reliance on the forward-looking statements and information contained in this press release and are encouraged to read the company’s ongoing disclosure documents, which are available on SEDAR+ at www.sedarplus.ca.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE: CoTec Holding Corp.
View the original press release on ACCESS Newswire
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