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CoTec Holdings ( (TSE:CTH) ) has issued an announcement.
CoTec Holdings Corp. has announced the automatic conversion of its existing convertible loan with Kings Chapel International Limited and the establishment of new convertible loan facilities totaling $6.6 million with Kings Chapel and Epic Capital Management Inc. This strategic move involves converting the prior loan into common shares and setting terms for new loans, which bear interest at 10% annually and are repayable by December 31, 2028. The new agreements allow for conversion into common shares under specific conditions, potentially impacting the company’s share structure and market positioning. The transactions are subject to regulatory approvals and are exempt from certain formal valuation and minority shareholder approval requirements.
More about CoTec Holdings
CoTec Holdings Corp. operates in the financial sector, focusing on providing convertible loan facilities. The company is involved in managing financial agreements and transactions, primarily with entities like Kings Chapel International Limited and Epic Capital Management Inc.
Average Trading Volume: 37,120
Technical Sentiment Signal: Buy
Current Market Cap: C$83.3M
Learn more about CTH stock on TipRanks’ Stock Analysis page.