CoTec Holdings Corp. (TSXV: CTH) (OTCQX: CTHCF) announced it has extended the deadline for its non-brokered private placement of unsecured convertible debentures to on or before October 15, 2026, subject to approval from the TSX Venture Exchange.
The Vancouver-listed company initially closed its offering at $12,059,000, as announced on September 17. With the extension, CoTec has secured a commitment from investor Kings Chapel International Ltd. for up to $5 million in principal amount of convertible debentures at the final closing, to the extent the company has not obtained subscriptions from third-party investors.
The target aggregate gross proceeds for the offering remain at up to $20 million. The final closing is contingent upon receipt of all necessary regulatory approvals, including TSXV authorization.
CoTec operates in rare earth magnets and strategic materials, with a magnet recycling joint venture based in Texas and an iron tailings reprocessing project in Quebec. The company noted that the securities offered have not been registered under the United States Securities Act of 1933 and cannot be offered or sold within the United States without registration or an applicable exemption.
