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An announcement from CoTec Holdings ( (TSE:CTH) ) is now available.
CoTec Holdings Corp. has raised approximately $19.9 million in gross proceeds after 16.6 million warrants, or 95.6% of those subject to a recent acceleration, were exercised before their April 10 expiry. The company issued 16.6 million new common shares, bringing total shares outstanding to 115,136,805, a result executives say underscores strong shareholder support despite challenging market conditions.
The fresh capital strengthens CoTec’s ability to advance its portfolio of technology-driven projects in rare earth magnet recycling, iron tailings reprocessing and next-generation copper and iron solutions. By bolstering its balance sheet, the financing supports CoTec’s strategy of building a differentiated, capital-efficient platform at the intersection of sustainability and strategic materials, potentially enhancing its competitive position in critical mineral supply chains.
More about CoTec Holdings
CoTec Holdings Corp. is a Canadian company focused on redefining resource extraction and recycling, with an emphasis on rare earth magnets and other strategic materials. It deploys breakthrough technologies across assets such as its HyProMag USA magnet recycling joint venture in Texas and iron tailings reprocessing in Québec to build secure, sustainable and low-cost critical mineral supply chains supporting the energy transition.
Average Trading Volume: 96,206
Technical Sentiment Signal: Hold
Current Market Cap: C$151.8M
For a thorough assessment of CTH stock, go to TipRanks’ Stock Analysis page.