CoTec Holdings Corp. Completes Second Closing of Financing Offerings

Vancouver-based CoTec Holdings Corp. has announced the completion of a second closing of its LIFE Offering and a concurrent private placement. The company has fully subscribed its target of $10 million, which includes $5 million under each offering. The offerings composed of 12,820,512 units at $0.78 per unit, each including one common share and one warrant, allowing purchase of additional shares at $1.20 within 18 months.

With this closing, CoTec has issued 5,039,065 units for $3,930,474.27 under LIFE Offering and 5,027,854 units for $3,921,728.72 under Private Placement. The proceeds will fund engineering at HyProMag USA LLC, a drilling program at Lac Jeannine, and other corporate needs. Several agents received cash and compensation warrants for their roles in the process.

All private placement securities hold a statutory four-month hold period. Caution is advised regarding forward-looking statements due to potential market and investment risks.