Cotec Receives $975,000 From Warrant Exercise at 75 Cents

Rhea-AI Summary

CoTec Holdings Corp. (CTHCF) receives $975,000 from warrant exercise, plans for transformative year in 2024. CEO Julian Treger highlights focus on feasibility studies for tech rollout in USA and Canada.

VANCOUVER, BC / ACCESSWIRE / February 15, 2024 / CoTec Holdings Corp. (TSXV:CTH; OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to announce that it has received $975,000 from the exercise of 1.3 million warrants at 75 cents by Kings Chapel International ("KCI").

Julian Treger, CoTec CEO, commented; "2024 is expected to be a transformative year for CoTec where the majority of our operational focus will be the completion of two feasibility studies for the roll-out of our technologies in the USA and Canada, as we target production and revenue generation by 2025/2026."

"CoTec remains on track in the execution of its strategy despite challenging conditions in the capital markets."

Correction to Prior Early Warning Report

The Company also announces a correction to its news release dated November 27, 2023, entitled "CoTec Receives $2.25M From Warrant Exercise at 75 Cents." The original news release stated that, immediately following the private transaction, Julian Treger owned or controlled 1,924,466 options to purchase common sares. The news release should have stated that, immediately following the private transaction, Julian Treger owned or controlled 2,731,371 options to purchase common shares. All other details of the news release issued on November 27, 2023 remain in effect.

About CoTec

CoTec is a publicly traded investment issuer listed on the TSX Venture Exchange (the "TSXV") and the OTCQB and trades under the symbol CTH and CTHCF respectively. The Company is an environment, social, and governance-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.

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 the HyProMag USA LLC and Lac Jeannine feasibility studies and to its current and potential future investments and the benefits to the Company which may be implied from such statements and, in particular, the benefits from the warrant exercise and the Company's view on its intrinsic value. 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. 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 and in the Company's other filings with Canadian securities regulators, copies of which may be found under the Company's SEDAR profile at www.sedarplus.ca.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

For further information, please contact:

Braam Jonker, 604/992-5600

SOURCE: CoTec Holdings Corp.

View the original press release on accesswire.com

FAQ

How much did CoTec Holdings Corp. (CTHCF) receive from the warrant exercise?

CoTec Holdings Corp. (CTHCF) received $975,000 from the exercise of 1.3 million warrants at 75 cents.

What are CoTec Holdings Corp.'s (CTHCF) plans for 2024?

CoTec Holdings Corp. (CTHCF) plans for a transformative year in 2024 focusing on completing two feasibility studies for the rollout of their technologies in the USA and Canada, targeting production and revenue generation by 2025/2026.

What correction did CoTec Holdings Corp. (CTHCF) announce?

CoTec Holdings Corp. (CTHCF) announced a correction to its prior news release regarding the number of options to purchase common shares that CEO Julian Treger owned or controlled.