Business
CoTec Holdings Corp. Provides Business Update
VANCOUVER, BC / ACCESSWIRE / February 7, 2023 / CoTec Holdings Corp. (TSXV:CTH) ("CoTec" or the "...
About this update from Cotec Holdings Corp
[{"type":"text","content":"CoTec Holdings Corp. Provides Business UpdateVANCOUVER, BC / ACCESSWIRE / February 7, 2023 / CoTec Holdings Corp. (TSXV:CTH) (\"CoTec\" or the \"Company\") is pleased to provide an update in respect of its portfolio, investment initiatives and other matters.Julian Treger, CEO, commented: \"2022 was a very successful year for CoTec, despite challenging macro-economic conditions during the second half of the year. Since re-admission to the Toronto Venture Exchange (\"TSX-V\") nine months ago, we have completed three investments, reviewed many potential opportunities and progressed to due diligence on several of them. During that time, there has also been considerable value creation at our investments, leading to an increase in our portfolio with CoTec reporting a profit for the first time since inception on the back of these gains.\"Recently we have identified two potential joint venture opportunities for the application of the Binding Solutions Limited (\"BSL\") technology, and we have commenced high level discussions with the respective counter parties in this regard. If successful, these could potentially lead to future operating revenue for CoTec. We are also looking forward to working with the Mkango Resources Ltd. (\"Mkango\") team to pursue rare earth elements (\"REE\") opportunities in the United States and will provide an update on this front in due course.\"During 2023 we will continue to identify disruptive technology solutions that fit the CoTec investment criteria and also work with our current investments to develop operational applications of their technologies. If appropriate, we will further strengthen our team and will also focus on marketing and investor relations in an attempt to close the value gap between our view of the CoTec value proposition and our current share price. Finally, we have applied for listing on the OTC Market in the United States (\"OTC\"), which we believe will make it easier for US based investors to purchase our shares. Our application is currently being reviewed by the regulators at the OTC.\"The focus on ESG in the globally emerging green economy demands technology solutions for the mining industry's emissions and environmental challenges while meeting the ever-increasing demand for resources. CoTec's ultimate strategy of creating a technology driven mid-tier mineral resource producer, ...