CoTec Receives $2.25M From Warrant Exercise at 75 Cents

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[{"type":"text","content":"CoTec Receives $2.25M From Warrant Exercise at 75 CentsVANCOUVER, BC / ACCESSWIRE / November 27, 2023 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) (\"CoTec\" or the \"Company\") is pleased to announce that it has received $2.25 million from the exercise of 3 million warrants at 75 cents (the \"Warrant Exercise\") by Kings Chapel International (\"KCI\").Julian Treger, CoTec CEO, commented; \"We continue to believe that CoTec's intrinsic value significantly exceeds the value reflected by its share price.\"\"We have made substantial progress over the past nine months in the execution of our strategy of becoming a low carbon resource producer despite challenging market conditions. We will work hard over the coming months to build on the progress made to date and to close the value gap between our stock price and the CoTec value proposition.\"Early Warning ReportThis press release is also being disseminated as required by National Instrument 62-103 - The Early Warning System and Related Take Over Bids and Insider Reporting Issuers in connection with the filing of an early warning report by KCI in respect of its ownership position in the Corporation. KCI is owned by an irrevocable discretionary trust associated with Julian Treger, the Corporation's Chief Executive Officer and a director of the Corporation.Prior to the Warrant Exercise, (i) KCI owned or controlled 18,366,307 Common Shares representing approximately 34.72% of the 54,627,430 issued and outstanding Common Shares as well as 11,011,948 warrants to purchase Common Shares and (ii) Julian Treger owned or controlled 2,708,500 Common Shares representing approximately 4.96% of the issued and outstanding Common Shares as well as 2,731,371 options to purchase Common Shares and 2,303,500 warrants to purchase Common Shares.Immediately following the private transaction, (i) KCI owned or controlled 21,366,307 Common Shares representing approximately 37.08% of the 57,627,430 issued and outstanding Common Shares as well as 8,011,948 warrants to purchase Common Shares and (ii) Julian Treger owned or controlled 2,708,500 Common Shares representing approximately 4.7% of the issued and outstanding Common Shares as well as 1,924,466 options to purchase Common Shares and 2,303,500 warrants to purchase Common Shares.KCI and Mr. Treger hold Common Shares for investment purposes. Each of them h...

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