CoTec Holdings Secures TSXV Approval for Convertible Loan Conversion

EastCoal ( (TSE:CTH) ) has issued an update.

CoTec Holdings Corp. has received approval from the TSX Venture Exchange for the conversion component of its convertible loan agreement with Kings Chapel International Limited. This agreement allows for the conversion of the outstanding principal into common shares under specific conditions, with measures in place to prevent Kings Chapel from owning more than 49% of the shares. The transaction, involving an insider and Control Person, was exempt from certain formal valuation and minority shareholder approval requirements due to its market capitalization. This move is part of CoTec’s strategy to leverage innovative technologies and strategic investments to enhance its position in the resource extraction industry.

More about EastCoal

CoTec is a publicly traded investment issuer listed on the TSXV and the OTCQB, trading under the symbol CTH and CTHCF respectively. The company is focused on revolutionizing the global metals and minerals industry through innovative, environmentally sustainable technologies and strategic asset acquisitions. CoTec aims to drive the sector toward a low-carbon future by investing in disruptive mineral extraction technologies and applying these technologies to undervalued mining assets. The company’s strategic model emphasizes recycling, waste mining, and scalable solutions to accelerate the production of critical minerals, shorten development timelines, and reduce environmental impact, positioning it as a leading mid-tier disruptor in the commodities sector.

Average Trading Volume: 19,542

Technical Sentiment Signal: Buy

Current Market Cap: C$57.25M

For a thorough assessment of CTH stock, go to TipRanks’ Stock Analysis page.