CoTec Holdings Corp. Secures TSXV Approval for Convertible Loan

CoTec Holdings Corp. announced the TSX Venture Exchange's approval for its convertible loan agreement with Kings Chapel International Limited. The agreement, originally dated November 25, 2024, will see a principal amount of $6,351,387 converted into common shares at CAD$0.75 per share when Kings Chapel opts in or when share prices consistently reach CAD$1.00. This conversion is limited to avoid Kings Chapel owning over 49% of outstanding common shares.

The agreement is a related party transaction under Multilateral Instrument 61-101 but is exempt from specific requirements due to existing conditions. Securities linked to this agreement have a statutory hold period of four months plus a day.