CoTec Holdings Corp. Investment MagIron Strengthens Leadership Team and Liquidity Position
Rhea-AI Summary
CoTec Holdings (TSXV:CTH, OTCQX:CTHCF) reports that MagIron, a U.S. company in which it holds an approximately 17% fully diluted equity stake, has implemented senior leadership changes and completed an additional insider capital raise at a US$550 million pre-money valuation.
Joe Nielsen has been appointed Chief Operating Officer of MagIron to lead operational and technical workstreams for the planned restart of its Minnesota iron ore concentrator and Indiana pellet plant. Larry Lehtinen has moved from Chief Executive Officer to Executive Director, while CoTec CEO Julian Treger has assumed the role of Executive Chairman of MagIron and continues to lead its board and strategy. MagIron stated that new capital from existing shareholders will fund ongoing technical, engineering, commercial and financing activities to support the restart of its facilities.
Positive
- 17% fully diluted stake in MagIron aligns CoTec with US$550m pre-money valuation
- Insider capital raise supports MagIron’s technical, engineering, commercial and financing workstreams for restarts
- New COO appointment and clarified leadership roles at MagIron may enhance project execution oversight
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC / ACCESS Newswire / July 30, 2026 / CoTec Holdings Corp. (TSXV:CTH)(OTCQX:CTHCF) ("CoTec" or the "Company") notes that MagIron LLC ("MagIron"), a U.S.-based company in which it owns an approximately
Joe Nielsen has been appointed Chief Operating Officer of MagIron. Joe brings extensive operational and technical experience from the metals and mining industries, including from previous roles at U.S. Steel and Mesabi Metallics. He will lead MagIron's operational and technical workstreams as it advances its plans to restart its iron ore concentrator in Minnesota and pellet plant in Indiana.
Larry Lehtinen has transitioned from his role as Chief Executive Officer to become an Executive Director of MagIron. In this role, Larry will continue to support MagIron's development strategy and provide the benefit of his extensive operational experience and knowledge of MagIron facilities.
Julian Treger has assumed the role of Executive Chairman and will continue to lead MagIron's Board and overall strategy.
MagIron also announced that it has raised additional capital at a pre-money valuation of US
CoTec CEO and MagIron Executive Chairman Julian Treger stated, "MagIron is very pleased to strengthen its leadership team through the appointment of Joe as Chief Operating Officer. Joe's experience, leadership and operational expertise will make a significant contribution to MagIron as we work towards restarting our facilities and establishing the company as an important domestic supplier of high-quality iron units to the U.S. steel industry."
About CoTec
CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) is redefining the future of resource extraction and recycling. Focused on rare earth magnets and strategic materials, CoTec integrates breakthrough technologies with strategic assets to unlock secure, sustainable, and low-cost supply chains for the United States and its allies.
CoTec's mission is clear: accelerate the energy transition while strengthening U.S. economic and national security. By investing in and deploying disruptive technologies, the Company delivers capital-efficient, scalable solutions that transform marginal assets, tailings, waste streams, and recycled products into high-value critical minerals.
From its HyProMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing in Québec, to next-generation copper and iron solutions backed by global majors, CoTec is building a diversified portfolio with long-term growth, rapid cash flow potential, and high barriers to entry. The result is a differentiated platform at the intersection of technology, sustainability, and strategic materials.
For more information, please visit www.cotec.ca.
For further information, please contact:
Braam Jonker - (604) 992-5600
The information in this press release concerning MagIron has been obtained from MagIron's public disclosure, has not been independently verified by CoTec, and CoTec assumes no responsibility for its accuracy or completeness.
Forward-Looking Information Cautionary Statement
Statements in this press release regarding the Company and its investments which are not historical facts are "forward-looking statements" which involve risks and uncertainties, including statements relating to MagIron, and management's expectations around the successful restart of the MagIron operations and the future value of its investment in MagIron and 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 and unknown risks and uncertainties affecting the Company, including but not limited to resource and reserve risks; 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 and transport disruptions. 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, a copy of which may be found under the Company's SEDAR profile at www.sedar.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 news release and are encouraged to read the Company's continuous disclosure documents which are available on SEDAR at www.sedarplus.ca.
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.
SOURCE: CoTec Holdings Corp.
View the original press release on ACCESS Newswire