CoTec Holdings Completes $20 Million Convertible Debenture Offering

CoTec Holdings Corp. completed the final closing of a non-brokered private placement of unsecured convertible debentures on October 16, 2026. The final closing issued debentures with a principal amount of $7,941,000, bringing the total principal amount issued under the offering to $20,000,000.

The debentures carry a 12.5% annual interest rate payable in cash and mature on September 10, 2031. These instruments are convertible into common shares of the company. CoTec intends to allocate the net proceeds toward working capital, general corporate purposes, and the purchase of equipment for its HyProMag USA permanent magnet recycling joint venture.

Kings Chapel International Ltd., an existing insider, purchased $5 million of the debentures during the final closing. This investment increases the partially diluted ownership position of Kings Chapel International Ltd. in CoTec to approximately 42.88%.