CoTec Holdings Corp. Concludes Initial Closing of LIFE Offering and Private Placement

Vancouver-based CoTec Holdings Corp. has announced the initial closing of its funding initiatives, gathering proceeds from its Listed Issuer Financing Exemption and a concurrent private placement. 2,732,312 units yielded $2.13 million under the LIFE Offering, while the private placement distributed 3,947,131 units, securing $3.08 million. Units were priced at $0.78, each containing a common share and a warrant, exercisable at $1.20 over 18 months.

The proceeds will advance projects at HyProMag USA LLC and fund the company's drilling program at Lac Jeannine, as well as general corporate purposes. Kings Chapel International Ltd., associated with CEO Julian Treger, participated as an "insider," purchasing 641,025 units.

A statutory hold period applies to all securities from the private placement, lasting four months and a day. Agent compensation included cash fees and warrants distributed among several financial firms.