CoTec Holdings Corp. Completes $13.5 Million Private Placement

Vancouver-based CoTec Holdings Corp. finalized its private placement, raising $13,524,682.08. The offering consisted of 17,339,336 units at $0.78 per unit, just shy of the $14 million target. Each unit included one common share and a warrant, entitling holders to purchase an additional share at $1.20 within 18 months.

Proceeds will fund projects like the HyProMag USA rare earth magnet recycling facility and a drill program at Lac Jeannine. CEO Julian Treger acknowledged the offering's oversubscription, linking it to CoTec's strategic position in the critical minerals supply chain.

The final closing saw insider and CEO, Mr. Treger, and Kings Chapel International Ltd. partaking, with participation exempt from certain regulatory requirements. To date, cash fees and compensation warrants have been distributed to ECM Capital Advisors and others for their roles.