Cotec Holdings Corporation reveals automatic conversion of Kings Chapel Convertible Loan and creation of additional $6.6 million in Convertible Loan Facilities
CoTec Secures $6.6 Million in Convertible Loan Agreements
CoTec Holdings Corp., a resource extraction company revolutionising the global metals and minerals industry, has announced new convertible loan agreements totaling up to $6.6 million. These agreements were made with Kings Chapel International Limited and certain funds managed by Epic Capital Management Inc.
The new loans bear an annual interest rate of 10% and are convertible into CoTec common shares at a price of CAD $1.15 per share. The agreements replace and repay the prior convertible loan agreement with Kings Chapel, which was amended and under which Kings Chapel had previously converted $2 million into shares at CAD $0.75 per share.
The new convertible loans are divided, with Kings Chapel providing up to $5,000,000 and Epic Capital Management Inc., up to $1,600,000. The undrawn principal amounts under the new convertible loans also bear a stand-by fee of 2.5% per annum.
CoTec’s mission is to drive the sector toward a low-carbon future by investing in disruptive mineral extraction technologies and applying them to undervalued mining assets. The company focuses on recycling, waste mining, and scalable solutions to accelerate the production of critical minerals, shorten development timelines, and reduce environmental impact.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release. CoTec Holdings Corp. is a publicly traded investment issuer listed on the TSXV and OTCQB, trading under the symbols CTH and CTHCF respectively.
It's important to note that the conversion will automatically occur if the volume weighted average trading price of the Common Shares is equal to or greater than $1.35. The conversion of the outstanding principal amount under the new convertible loan agreements can occur after November 15, 2025.
For more information, please visit CoTec’s website at www.cotec.ca or contact Braam Jonker at (604) 992-5600. It's also worth mentioning that the execution of the new convertible loan agreement with Kings Chapel is a related party transaction and is exempt from formal valuation and minority shareholder approval requirements.
CoTec's forward-looking statements involve risks and uncertainties, including economic, political, market, and technological factors, environmental risks, labor costs, and uncertainties related to their investments.
Kings Chapel and Mr. Julian Treger, a director of the Corporation and its Chief Executive Officer, hold Common Shares for investment purposes. The outstanding principal amount under each of the new convertible loan agreements will be converted into Common Shares at a price of $1.15 per Common Share. This news release is not for distribution to the U.S. newswire services or for dissemination in the United States.
CoTec's continuous disclosure documents can be found under their SEDAR+ profile at www.sedarplus.ca. The conversion of the outstanding principal amount under the new convertible loan agreements can occur after November 15, 2025. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
- CoTec Holdings Corp, a company investing in disruptive mineral extraction technologies, has secured new convertible loan agreements worth $6.6 million from Kings Chapel International Limited and certain funds managed by Epic Capital Management Inc for business expansion.
- The new loans, with an annual interest rate of 10%, are convertible into CoTec common shares at a price of CAD $1.15 per share, indicating a potential significant investment in the company's financial growth.
