EastCoal (TSE:CTH) has released an update.
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CoTec Holdings Corp. has successfully completed the initial phase of its non-brokered private placement, raising over $2 million with the sale of over 4 million units priced at $0.50 each. The funds are earmarked for the feasibility study of HyProMag USA, economic assessment of the Lac Jeannine Project, and general corporate purposes. Notably, Kings Chapel, an insider entity, purchased the majority of the units, prompting a related party transaction disclosure.
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