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CoTec Holdings Corp. Announces Final Closing of Private Placement, Total Raise of $13.5 Million
VANCOUVER, BC / ACCESS Newswire / July 22, 2025 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF)...
About this update from Cotec Holdings Corp
[{"type":"text","content":"CoTec Holdings Corp. Announces Final Closing of Private Placement, Total Raise of $13.5 Million VANCOUVER, BC / ACCESS Newswire / July 22, 2025 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) (\"CoTec\" or the \"Corporation\") is pleased to announce that it has completed a third and final closing (the \"Final Closing\") under its previously announced private placement (the \"Private Placement\"). As previously announced, the Private Placement was conducted together with a concurrent, upsized offering under the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions (the \"LIFE Offering\" and together with the Private Placement, the \"Offering\") of up to an aggregate of 17,948,717 units (each, a \"Unit\") at a price of $0.78 per Unit for aggregate gross proceeds of up to $14,000,000 (comprised of $9,000,000 under the LIFE Offering and $5,000,000 under the Private Placement). The Corporation raised aggregate gross proceeds of $13,524,682.08 under the Offering through the issuance of 17,339,336 Units at a price of $0.78 per Unit.Each Unit issued pursuant to the Offering consists of one common share in the capital of the Corporation (each a \"Common Share\") and one Common Share purchase warrant (each a \"Warrant\"). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $1.20 for a period of 18 months following the issuance of the Units, subject to acceleration.Pursuant to the Final Closing, the Company raised gross proceeds of $1,097,941.26 through the issuance of 1,407,617 Units at a price of $0.78 per Unit. Together with the initial closings under the Private Placement, the Corporation has issued an aggregate of 6,435,471 Units for aggregate gross proceeds of $5,019,667.38, compared to the Company's initial target of $5 million. Including the $12,426,740.82 raised under the initial closings of the Offering, CoTec raised an aggregate of $13,524,682.08 under the Offering.The Corporation intends to use the net proceeds from the Offering to fund the detailed design and engineering of its HyProMag USA rare earth magnet recycling facility, the upcoming drill program at its Lac Jeannine iron tailings property, additional investment obligations, and for general corporate purposes.Julian Treger, CoTec CEO, commented, \"Being oversubscribed by 35% is a fantastic ...