CoTec Holdings Corp. Joins the Rare Earth Industry Association
CoTec Holdings Corp. (TSXV:CTH, OTCQB:CTHCF) has joined the Rare Earth Industry Association (REIA). CEO Julian Treger highlighted CoTec's investment in the HyProMag technology, which recycles Rare Earth Elements (REEs) using Hydrogen Processing of Magnet Scrap (HPMS), developed at the University of Birmingham.
The company aims to complete the HyProMag USA bankable Feasibility Study by year-end. Dr. Badrinath Veluri, President of REIA, praised CoTec's commitment to ESG principles and innovative technologies, noting their alignment with REIA's mission for sustainable practices within the rare earth industry. REIA plans to support CoTec and other stakeholders in the deployment of these transformative technologies.
- CoTec's membership in the Rare Earth Industry Association (REIA) could enhance its industry credibility.
- Investment in HyProMag technology focuses on recycling Rare Earth Elements (REEs), aligning with sustainable practices.
- CoTec targets completion of the HyProMag USA bankable Feasibility Study by year-end, indicating a clear timeline.
- REIA's support can provide further industry validation and support, potentially boosting investor confidence.
- The announcement lacks specific financial data, making it difficult to assess the immediate financial impact.
- There is no mention of current revenue or profitability from the HyProMag technology, raising questions about its current economic viability.
- The completion of the feasibility study by year-end is an ambitious target and project delays could negatively affect investor sentiment.
VANCOUVER, BC / ACCESSWIRE / June 6, 2024 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to announce that it has become a member of the Rare Earth Industry Association ("REIA" or the "Association").
Julian Treger, Chief Executive Officer of CoTec, commented, "We are very pleased to be joining REIA in support of our investment in the world leading HyProMag technology which focuses on recycling Rare Earth Elements (REEs) through the patented Hydrogen Processing of Magnet Scrap ("HPMS") technology developed at the University of Birmingham, UK. We are developing operational application of our technologies with a target to complete the HyProMag USA bankable Feasibility Study prior to year-end. We are looking forward to working with REIA and other stakeholders to support the roll out of this exciting business."
Dr. Badrinath Veluri, President of REIA, commented, "CoTec's commitment to ESG principles and its focus on innovative technologies align closely with REIA's mission of fostering sustainable practices within the rare earth industry. We are excited about the potential of CoTec's HyProMag technology in revolutionizing the recycling of REEs. REIA looks forward to supporting CoTec and other stakeholders in the rollout of these transformative technologies, furthering our collective efforts towards sustainable resource management and environmental stewardship."
About the Rare Earth Industry Association (REIA)
The Rare Earth Industry Association ("REIA" or the "Association") is a global, Belgium-based not-for-profit organization founded in 2019. REIA's mission is to serve, promote and advance the sustainable development of the global rare-earth-element ("REE") value chain. The Association's more than 80 members are drawn from across the entire REE value chain, including public and private companies, research and academic institutions, government entities, policy makers and other stakeholders. REIA is currently developing a framework and guidelines to help standardize ESG reporting accepted by upstream, midstream, and downstream participants. The Association provides its members with a platform for networking and benchmarking; for making their voice heard by policy makers, regulators, and other key stakeholders; for finding potential partners and collaborators; for accessing and sharing data, information, and best practices; and gaining visibility and highlighting their engagement towards a more sustainable supply chain.
About CoTec
CoTec is a publicly traded investment issuer listed on the TSX Venture 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. These technologies 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" which involve risks and uncertainties, including statements relating to its membership of REIA, as well as 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, due to known and unknown risks and uncertainties affecting the Company, including but not limited to resource and reserve risks; environmental risks and costs; labor costs and shortages; uncertain supply and price fluctuations in materials; increases in energy costs; labor disputes and work stoppages; leasing costs and the availability of equipment; heavy equipment demand and availability; contractor and subcontractor performance issues; worksite safety issues; project delays and cost overruns; extreme weather conditions; and social disruptions. 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. The Company assumes no responsibility to update forward-looking statements 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 news release and are encouraged to read the Company's continuous disclosure documents which are available on SEDAR 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
What is the significance of CoTec Holdings joining the Rare Earth Industry Association?
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