CoTec Holdings Corp. Announces Third and Final Closing of Upsized Life Offering, Total Raise to Date of $12.4 Million
CoTec Holdings (OTCQB:CTHCF) has completed the third and final closing of its upsized Listed Issuer Financing Exemption (LIFE) offering, raising total proceeds of $12.4 million to date, significantly exceeding its initial $10 million target.
The offering consists of Units priced at $0.78 each, with each Unit comprising one common share and one purchase warrant exercisable at $1.20 for 18 months. The final LIFE closing raised $4.57 million through 5,864,800 Units, bringing the total LIFE offering proceeds to $8.5 million.
Proceeds will fund the HyProMag USA rare earth magnet recycling facility design, Lac Jeannine iron tailings drill program, and additional investment obligations.
CoTec Holdings (OTCQB:CTHCF) ha completato la terza e ultima chiusura della sua offerta ampliata Listed Issuer Financing Exemption (LIFE), raccogliendo un totale di 12,4 milioni di dollari, superando notevolmente l'obiettivo iniziale di 10 milioni di dollari.
L'offerta consiste in Unità quotate a 0,78 dollari ciascuna, con ogni Unità composta da un'azione ordinaria e un warrant di acquisto esercitabile a 1,20 dollari per 18 mesi. La chiusura finale del LIFE ha raccolto 4,57 milioni di dollari attraverso 5.864.800 Unità, portando il totale dei proventi dell'offerta LIFE a 8,5 milioni di dollari.
I proventi finanzieranno la progettazione dell'impianto di riciclaggio di magneti di terre rare HyProMag USA, il programma di perforazione dei residui di ferro di Lac Jeannine e ulteriori obblighi di investimento.
CoTec Holdings (OTCQB:CTHCF) ha completado el tercer y último cierre de su oferta ampliada Listed Issuer Financing Exemption (LIFE), recaudando un total de 12.4 millones de dólares, superando significativamente su objetivo inicial de 10 millones de dólares.
La oferta consiste en Unidades valoradas en 0.78 dólares cada una, con cada Unidad compuesta por una acción común y un warrant de compra ejercitable a 1.20 dólares durante 18 meses. El cierre final de LIFE recaudó 4.57 millones de dólares mediante 5,864,800 Unidades, elevando el total de ingresos de la oferta LIFE a 8.5 millones de dólares.
Los ingresos financiarán el diseño de la planta de reciclaje de imanes de tierras raras HyProMag USA, el programa de perforación de relaves de hierro de Lac Jeannine y otras obligaciones de inversión.
CoTec Holdings (OTCQB:CTHCF)는 증액된 Listed Issuer Financing Exemption (LIFE) 공모의 세 번째이자 마지막 클로징을 완료하여 총 1,240만 달러를 모금하며 초기 목표인 1,000만 달러를 크게 초과 달성했습니다.
공모는 각 0.78달러에 가격이 책정된 유닛으로 구성되며, 각 유닛은 보통주 1주와 18개월 동안 1.20달러에 행사 가능한 구매 워런트 1주로 구성됩니다. 최종 LIFE 클로징에서는 586만 4,800 유닛을 통해 457만 달러가 모였으며, LIFE 공모 총 수익은 850만 달러에 달합니다.
수익금은 HyProMag USA 희토류 자석 재활용 시설 설계, Lac Jeannine 철광 광미 시추 프로그램 및 추가 투자 의무에 사용될 예정입니다.
CoTec Holdings (OTCQB:CTHCF) a finalisé la troisième et dernière clôture de son offre Listed Issuer Financing Exemption (LIFE) augmentée, ayant levé à ce jour un total de 12,4 millions de dollars, dépassant largement son objectif initial de 10 millions de dollars.
L'offre se compose d'unités au prix de 0,78 dollar chacune, chaque unité comprenant une action ordinaire et un bon de souscription exerçable à 1,20 dollar pendant 18 mois. La clôture finale du LIFE a permis de lever 4,57 millions de dollars grâce à 5 864 800 unités, portant le total des produits de l'offre LIFE à 8,5 millions de dollars.
Les fonds serviront à financer la conception de l'installation de recyclage des aimants de terres rares HyProMag USA, le programme de forage des résidus de fer de Lac Jeannine ainsi que d'autres engagements d'investissement.
CoTec Holdings (OTCQB:CTHCF) hat den dritten und letzten Abschluss seines aufgestockten Listed Issuer Financing Exemption (LIFE) Angebots abgeschlossen und dabei bisher insgesamt 12,4 Millionen US-Dollar eingenommen, was das ursprüngliche Ziel von 10 Millionen US-Dollar deutlich übertrifft.
Das Angebot besteht aus Einheiten zum Preis von 0,78 US-Dollar pro Einheit, wobei jede Einheit eine Stammaktie und einen Kaufwarrant enthält, der für 18 Monate zu 1,20 US-Dollar ausgeübt werden kann. Der letzte LIFE-Abschluss brachte 4,57 Millionen US-Dollar durch 5.864.800 Einheiten ein, womit die Gesamterlöse des LIFE-Angebots auf 8,5 Millionen US-Dollar steigen.
Die Erlöse werden die Planung der HyProMag USA seltene Erden Magnet-Recycling-Anlage, das Bohrprogramm für Lac Jeannine Eisenerz-Rückstände und weitere Investitionsverpflichtungen finanzieren.
- Exceeded fundraising target by raising $12.4M vs initial $10M goal
- Strong investor support demonstrating market confidence in company strategy
- Funds secured for strategic projects including rare earth magnet recycling facility and iron tailings exploration
- 18-month warrants provide potential additional funding at $1.20 exercise price
- Significant dilution through issuance of 10.9M new units under LIFE offering
- Additional dilution expected from pending Private Placement closing
- Substantial fees and compensation warrants paid to multiple agents and finders
VANCOUVER, BC / ACCESS Newswire / July 16, 2025 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec" or the "Corporation") is pleased to announce that it has completed a third and final closing (the "LIFE Closing") under its previously announced upsized offering under the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions (the "LIFE Offering"). As previously announced, the LIFE Offering is being conducted together with a concurrent private placement (the "Private Placement" and together with the LIFE Offering, the "Offering") of up to an aggregate of 17,948,717 units (each, a "Unit") at a price of
The LIFE Closing constitutes the final closing under the LIFE Offering, with a final closing under the Private Placement anticipated to occur on or about July 17, 2025, to accommodate the completion of additional subscriptions.
Pursuant to the LIFE Closing, the Company raised gross proceeds of
The Corporation intends to use the net proceeds from the Offering to fund the detailed design and engineering of its HyProMag USA rare earth magnet recycling facility, the upcoming drill program at its Lac Jeannine iron tailings property, additional investment obligations, and for general corporate purposes.
Julian Treger, CoTec CEO, commented, "We are very pleased with the strong support received for this financing, which resulted in total gross proceeds to date of over
In connection with the LIFE Closing, the Corporation paid cash fees and compensation warrants ("Compensation Warrants") to certain agents and finders as follows:
About CoTec
CoTec is a publicly traded investment issuer listed on the TSXV and the OTCQB and trades under the symbol CTH and CTHCF respectively. CoTec is a forward-thinking resource extraction company committed to revolutionizing the global metals and minerals industry through innovative, environmentally sustainable technologies and strategic asset acquisitions. With a mission to drive the sector toward a low-carbon future, CoTec employees a dual approach: investing in disruptive mineral extraction technologies that enhance efficiency and sustainability while applying these technologies to undervalued mining assets to unlock their full potential. By focusing on recycling, waste mining, and scalable solutions, the Company accelerates the production of critical minerals, shortens development timelines, and reduces environmental impact. CoTec's strategic model delivers low capital requirements, rapid revenue generation, and high barriers to entry, positioning it as a leading mid-tier disruptor in the commodities sector.
For more information, please visit www.cotec.ca.
Forward-Looking Information Cautionary Statement
Statements in this press release regarding the Company, its investments and the Offerings which are not historical facts are "forward-looking statements" that involve risks and uncertainties, including statements relating to management's expectations with respect to its current and potential future investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.
Actual results in each case could differ materially from those currently anticipated in such statements, due to known an unknown risks and uncertainties affecting the Company, including by not limited to: general economic, political and market factors in North America and internationally, interest and foreign exchange rates, changes in costs of goods and services, global equity and capital markets, business competition, technological change, changes in government relations, industry conditions, unexpected judicial or regulatory proceedings and catastrophic events. The Company's investments are being made in mineral extraction related assets and technologies which are subject to their own inherent risks and the success of such Investments may be adversely impacted by, among other things: environmental risks and costs; labor costs and shortages; uncertain supply and price fluctuations in materials; increases in energy costs; labor disputes and work stoppages; leasing costs and the availability of equipment; heavy equipment demand and availability; contractor and subcontractor performance issues; worksite safety issues; project delays and cost overruns; extreme weather conditions; and social disruptions. As the investments are being made in mineral extraction technology, such investments will also be subject to risks of successful application, scaling and deployment of technology, acceptability of technology within the industry, availability of assets where technology could be applied, protection of intellectual property in relation to such technology, successful promotion of technology and success of competitor technology. Any material adverse change in the Company's financial position or a failure by the Company to successfully make investments in the manner currently contemplated, could have a corresponding material adverse change on the investments and, by extension, the Company.
For further details regarding risks and uncertainties facing the Company, please refer to "Risk Factors" in the Company's filing statement dated April 6, 2022 and its other continuous disclosure documents, copies of which may be found under the Company's SEDAR+ profile at www.sedarplus.com. The Company assumes no responsibility to update forward-looking statements in this press release except as required by law. Readers should not place undue reliance on the forward-looking statements and information contained in this press release and are encouraged to read the Company's continuous disclosure documents, which are available on SEDAR+ at www.sedarplus.ca.
For further information, please contact:
Braam Jonker - (604) 992-5600
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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SOURCE: CoTec Holdings Corp.
View the original press release on ACCESS Newswire
FAQ
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