CoTec Holdings Corp. Amends Convertible Loan Agreement

CoTec Holdings Corp. announced an amendment to its Convertible Loan Agreement with Kings Chapel International Limited. The loan's principal is increased by $2.5 million, bearing 10% annual interest, with repayment due by December 31, 2027. The loan is unsecured but can convert into common shares at CAD$0.75 per share. Conversion requires CoTec's stock to trade at or above CAD$1.00 over 15 days. Kings Chapel and affiliates cannot own more than 49% of CoTec shares post-conversion.

Kings Chapel is a significant insider of CoTec, making this a related party transaction under securities regulation MI 61-101. Approval from the TSXV is required for any share issuance, subject to a four-month hold period.