CoTec Holdings Corp. announced a private placement of 4,040,404 units at CAD 0.12375 per unit for gross proceeds of up to CAD 500,000 on August 12, 2021. The transaction will include participation from Kings Chapel International Limited for 2,303,030 units. Each unit shall comprise of one common share and one common share purchase warrant. Each warrant shall be exercisable into one common share of the company for a period of 12 months from the date of the closing at CAD 0.165 per unit. The transaction is subject to receipt of TSX Venture Exchange approval. All securities will be subject to a hold period of four months and one day from the date of issuance. Post the closing, Kings Chapel International Limited will own 10% of the company’s outstanding shares and 18.2% assuming the exercise of the warrants.