sur CoTec Holdings Corp. (CVE:CTH)
CoTec Holdings Corp. Announces $20M Convertible Debenture Offering
CoTec Holdings Corp. plans to raise up to $20 million through a non-brokered private placement of unsecured convertible debentures. These debentures will have a 12.5% annual interest rate, payable semi-annually, and will mature in five years. They can be converted to common shares at CAD$1.75 per share at the holder's discretion. CoTec can redeem them anytime, under specified conditions.
The net proceeds are designated for equipment purchases related to the HyProMag USA joint venture and working capital. The offering is subject to regulatory approvals and a hold period of four months plus one day. Certain insiders may participate, making it a 'related party transaction’ under MI 61-101.
The offering excludes U.S. participants, adhering to U.S. securities laws. Closing is anticipated in August 2026.
R. E.
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