CoTec Holdings Corp. Notes HyProMag USA Advancement of Texas Hub and U.S. Magnet Platform

About this update from Cotec Holdings Corp

HyProMag USA Starts Long‑Lead Equipment Procurement, Increases Projected Magnet Production, and Progresses U.S. Build‑Out VANCOUVER, BC / ACCESS Newswire / June 22, 2026 / CoTec Holdings Corp. (TSXV:CTH)(OTCQX:CTHCF) ("CoTec" or the "Company") notes the press release issued today by its joint venture, HyProMag USA, LLC ("HyProMag USA"), a U.S.-based leader in rare earth magnet recycling and manufacturing, providing an update on the development of its Ironhead facility (the "Texas Hub") and the build-out of its U.S. commercial platform (together, the "Project"). In its release, HyProMag USA reports that it has increased its projected magnet production capacity, started procurement of key long‑lead equipment and is progressing detailed engineering, feedstock aggregation, and commercial offtake discussions, while also initiating a search for U.S‑based executive leadership to support the next phase of growth. Following completion of the Class 2 AACE[i] capital cost estimate in Q4 2025 and the commissioning of HyProMag's UK and German plants, HyProMag USA has begun ordering critical‑path long‑lead equipment to support a targeted H2 2027 commissioning of the Texas Hub. In parallel, detailed engineering is advancing and the company is in discussions with feedstock suppliers, potential offtake partners and financing counterparties as it transitions from feasibility and pilot validation into execution of a scaled domestic magnet recycling and manufacturing platform in the United States. Key Highlights from HyProMag USA's Update Julian Treger, CoTec CEO, commented: "We are making strong progress on our first plant in Texas. Ordering long‑lead items now keeps the Texas Hub on track and signals our confidence in the project and our ability to deliver it on schedule. ILS' growing portfolio of NdFeB feedstock, combined with stockpiling prior to commissioning, is designed to support a smooth ramp‑up and optimized batch production. Any additional feedstock secured can underpin our future expansion of the plans. Our near‑term focus is on securing feedstock and offtake commitments to support our project financing and enable a construction start in Q4 2026. Importantly, we are not starting from scratch - the underlying technology is already commissioned and operating in the UK[ix] and Germany[x], and our goa...

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