CoTec Holdings Corp. Grants Incentive Stock Options

Rhea-AI Summary

CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) has announced the granting of stock options to company officers and a director. A total of 532,301 options were granted to an officer and director, while an additional 350,000 options were granted to other officers. The options, effective July 15, 2024, have a three-year vesting period and a ten-year validity. Of these, 682,301 options are exercisable at $0.50 per share, while the remaining 200,000 are exercisable at $0.75 per share. These options are governed by the company's Omnibus Equity Incentive Plan and are subject to TSX Venture Exchange policies.

Positive

• Granting of stock options may align management interests with shareholders
• Three-year vesting period encourages long-term commitment from officers and directors
• Ten-year validity provides flexibility for option holders

Negative

• Potential dilution of existing shareholders' equity if options are exercised
• Increased share-based compensation expense may impact future financial statements

VANCOUVER, BC / ACCESSWIRE / July 15, 2024 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec" or the "Company") announces that the Company has granted a total of 532,301 stock options to an officer and director of the Company and a further aggregate 350,000 stock options (together the "Options") to officers of the Company.

The Options have an effective grant date of July 15, 2024, vest over a three (3) year term, are valid for a ten-year period and 682,301 are exercisable at $0.50 per share, being the higher of the closing share price on the day preceding the award and the price of the latest fundraise and the remaining 200,000 are exercisable at $0.75. The Options have been granted under and are governed by the terms of the Company's Omnibus Equity Incentive Plan and are subject to the policies of the TSX Venture Exchange.

About CoTec
CoTec is a publicly traded investment issuer listed on the Toronto Venture Stock Exchange ("TSX- V") and the OTCQB and trades under the symbol CTH and CTHCF respectively. The Company is an environment, social, and governance ("ESG")-focused company investing in innovative technologies that have the potential to fundamentally change the way metals and minerals can be extracted and processed for the purpose of applying those technologies to undervalued operating assets and recycling opportunities, as the Company transitions into a mid- tier mineral resource producer.

CoTec is committed to supporting the transition to a lower carbon future for the extraction industry, a sector on the cusp of a green revolution as it embraces technology and innovation. The Company has made four investments to date and is actively pursuing operating opportunities where current technology investments could be deployed.

For further information, please contact:
Braam Jonker - (604) 992-5600

Forward-Looking Information Cautionary Statement
Statements in this press release regarding the Company and its investments which are not historical facts are "forward-looking statements" that involve risks and uncertainties, including statements relating to management's expectations with respect to its current and potential future investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. For further details regarding 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 may be found under the Company's SEDAR profile at www.sedar.com.

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 news release.

SOURCE: CoTec Holdings Corp.

View the original press release on accesswire.com

FAQ

How many stock options did CoTec Holdings Corp. (CTHCF) grant on July 15, 2024?

CoTec Holdings Corp. granted a total of 882,301 stock options on July 15, 2024, with 532,301 options to an officer and director, and 350,000 options to other officers of the company.

What is the exercise price of the stock options granted by CoTec Holdings Corp. (CTHCF)?

The exercise prices vary: 682,301 options are exercisable at $0.50 per share, while the remaining 200,000 options are exercisable at $0.75 per share.

What is the vesting period and validity of the stock options granted by CoTec Holdings Corp. (CTHCF)?

The stock options granted by CoTec Holdings Corp. have a three-year vesting period and are valid for a ten-year period from the grant date of July 15, 2024.

Under what plan are the stock options granted by CoTec Holdings Corp. (CTHCF) governed?

The stock options granted by CoTec Holdings Corp. are governed by the terms of the Company's Omnibus Equity Incentive Plan and are subject to the policies of the TSX Venture Exchange.