on CoTec Holdings Corp. (CVE:CTH)
CoTec Holdings Converts Loan and Secures New Financing
CoTec Holdings Corp. has announced the automatic conversion of its convertible loan with Kings Chapel International Limited. This conversion was triggered by CoTec's share price surpassing $1.00 over 15 trading days, resulting in the repayment of $4,851,387 through the issuance of 6,468,515 common shares at $0.75 each.
Additionally, CoTec has established new loan agreements with Kings Chapel and Epic Capital Management, totaling up to $6.6 million. These loans, bearing an annual interest rate of 10%, are due December 31, 2028. Conversion into common shares at $1.15 per share is possible starting November 2025, based on share price conditions.
Kings Chapel remains a major shareholder, holding 43.08% of CoTec's common shares post-conversion. The transactions align with regulatory exemptions, subject to necessary approvals and conditions.
R. P.
Copyright © 2025 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all CoTec Holdings Corp. news