COTEC HLDGS CORP - CTHCF STOCK NEWS

CoTec Holdings Corp. (CTHCF) and Mkango Resources announce mid-project findings for HyProMag USA's bankable feasibility study on REE magnet recycling plants in the United States. Key points include:

1. Study is 50% complete, targeting completion in Q4 2024
2. Production capacity of 500-800 tonnes per annum of NdFeB magnets
3. Four shortlisted 'hub' sites in Fort Worth, Texas
4. First U.S. magnet production targeted for H2 2026
5. Discussions with U.S. government for funding support
6. Project aligns with U.S. Defense Production Act requirements

The study aims to establish a sustainable, domestic supply of NdFeB permanent magnets using HPMS recycling technology.

CoTec Holdings Corp. (TSXV:CTH) has completed a non-brokered private placement of 5,500,000 common shares to Kings Chapel International at $0.50 per share, generating $2,750,000 in gross proceeds. Kings Chapel, an existing insider and control person, is linked to CEO Julian Treger via a family trust. The transaction, exempt from certain MI 61-101 requirements, will use $500,000 to repay part of a loan from Kings Chapel. Post-placement, Kings Chapel's stake rose to 44.96%, while Treger's stake decreased to 3.79%. The remaining funds will support potential investments and working capital.

On July 3, 2024, CoTec Holdings announced a non-brokered private placement involving the issuance of 5,500,000 common shares to Kings Chapel International at $0.50 per share, aiming to raise $2,750,000. The proceeds will be used to repay loans from Kings Chapel, fund investment opportunities, and for working capital. The placement is a related party transaction as Julian Treger, CoTec's CEO, is linked to Kings Chapel. The transaction is exempt from certain valuation and minority approval requirements per Multilateral Instrument 61-101, due to the shares being listed on the TSX Venture Exchange and the transaction's market impact being under 25% of CoTec's market capitalization. The closing is pending necessary approvals, including from the TSXV, and issued securities will have a statutory hold period of four months plus one day.

CoTec Holdings has announced positive results from its Preliminary Economic Assessment (PEA) and Mineral Resource Estimate (MRE) for the Lac Jeannine Iron Tailings Project in Quebec, Canada. The MRE identified an initial inferred resource of 73 million tonnes (Mt) at 6.7% total Fe, with potential for an additional 50-70 Mt from adjacent tailings. The PEA predicts a pre-tax NPV of $93.6M and an IRR of 38%, while the after-tax NPV stands at $59.5M with an IRR of 30%. The project is expected to produce a high-purity iron concentrate at 66.8% total Fe, with an annual output of approximately 380,000 tonnes over a 10-year span. The upfront capital cost is estimated at $64.6M, with a payback period of 2.5 years. CoTec plans to proceed with a feasibility study, aiming to upgrade resources and explore funding and economic incentives.

CoTec Holdings Corp. announced the completion of an initial Mineral Resource Estimate (MRE) and a positive Preliminary Economic Assessment (PEA) for the Lac Jeannine Iron Tailings Project in Québec, Canada. The project boasts an initial inferred mineral resource of 73 million tonnes at 6.7% total Fe, with potential to add another 50 to 70 million tonnes pending further drilling. The PEA forecasts a pre-tax NPV of $93.6M and an after-tax NPV of $59.5M, with internal rates of return (IRR) of 38% and 30%, respectively. The project capital cost is estimated at $64.6M, with payback expected in 2.5 years. The operation will produce high-purity iron concentrate over 10 years, significantly reducing environmental liabilities. Next steps include a feasibility study, further drilling, and exploring government incentives.

The full report will be available on SEDAR+ in 45 days.

CoTec Holdings Corp. (TSXV:CTH) (OTCQB:CTHCF), a company well-regarded in its sector, has announced an investor update to be hosted by CEO Julian Treger. This event is scheduled for June 28, 2024, at 7:30am PDT / 10:30am EDT. The presentation will include a Q&A session where investors can engage directly with the CEO. Interested parties can register for the event through a provided link. This update is a key opportunity for investors to gain insights into the company's strategies and future directions.

HyProMag USA, a joint venture of CoTec Holdings and Mkango Resources, has appointed Linda Lourie to its Advisory Board, effective June 20, 2024. Lourie's extensive background includes roles as Assistant Director for Research and Technology Security in the White House Office of Science and Technology Policy and as a Principal with WestExec Advisors. Her expertise is expected to strengthen HyProMag USA's strategy in securing US Government funding and forging long-term commercial relationships. The JV's bankable Feasibility Study is progressing well, aiming to establish a cost-effective, energy-efficient rare earth magnet recycling process in the US through patented Hydrogen Processing of Magnet Scrap (HPMS) technology.

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 Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) announced its unaudited interim condensed consolidated financial results for the first quarter of 2024, ending March 31. The company reported a net loss of $39,000, influenced by foreign exchange gains on equity investments and operating costs. Key developments include the incorporation of HyProMag USA , which CoTec controls with a 60.3% stake. HyProMag USA will implement Hydrogen Processing of Magnet Scrap (HPMS) technology in the US. The company engaged BBA USA Inc., PegasusTSI, and Weston Solutions Inc. to complete a Bankable Feasibility Study by year-end. Additionally, CoTec awarded contracts for a National Instrument 43-101 Preliminary Economic Assessment (PEA) for its Lac Jeannine Iron Project, targeted for completion in the first half of 2024. The company appointed Mr. Erez Ichilov and retired Vice-Admiral Robert Harward to its Board. CoTec received $975,000 from warrant exercises and was included in the 2024 TSX Venture Top 50 list. CoTec aims to complete the PEA and Feasibility Study by the specified dates and is also targeting two additional technology investments by year-end.