On May 15, 2024, CoTec Holdings Corp., closed the transaction. The company issued a total of 1,005,000 units at a price of CAD 0.5 per unit for the gross proceeds of CAD 502,500 in its second and final tranche closing. The company issued a total of 5,146,025 units for the total gross proceeds of CAD 2,573,012.5 on the transaction.

Insiders of the corporation participated in the private placement and purchased an aggregate of 4,050,000 units for gross proceeds of CAD 2,025,000. All securities issued to Canadian investors in connection with the private placement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation in Canada. The transaction includes participation from 11 placees and 2 insiders with existing insider involvement of 4,050,000 shares.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement