on CoTec Holdings Corp. (isin : CA22165A1021)
CoTec Holdings Corp. Launches $3 Million Private Placement
VANCOUVER, BC - CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) announced plans to complete a non-brokered private placement targeting $3,000,000. The raise will involve 6,000,000 units at $0.50 each. Each unit includes a common share and a warrant, with each warrant enabling the purchase of an additional share at $1.05 each over the next year. The funds will support investment commitments and provide working capital.
Kings Chapel International Limited, a major insider, will likely participate, making this a potential related party transaction under Multilateral Instrument 61-101. Nevertheless, exceptions apply since the transaction does not exceed 25% of CoTec's market capitalization. The placement awaits approval from the TSX Venture Exchange and will include a statutory hold period for Canadian securities issued.
R. H.
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