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EastCoal ( (TSE:CTH) ) has issued an announcement.
CoTec Holdings Corp. has announced a financing initiative to raise up to $5 million through a LIFE Offering and a concurrent private placement. The company plans to issue up to 6,410,256 units at $0.78 per unit, each consisting of one common share and one purchase warrant. The proceeds will be used for design and engineering at HyProMag USA LLC, a drilling program at Lac Jeannine, further investment obligations, and general corporate purposes. The offering is non-brokered in Canada, with ECM Capital Advisors Ltd. and Odeon Capital Group LLC serving as international and U.S. placement agents, respectively. The initiative is expected to enhance CoTec’s operational capabilities and strengthen its market position.
More about EastCoal
Average Trading Volume: 18,727
Technical Sentiment Signal: Buy
Current Market Cap: C$59.38M
Learn more about CTH stock on TipRanks’ Stock Analysis page.