The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Funds for Hydromag USA
CoTec Holdings Corp. Announces Initial Closing Of Non-brokered Private Placement
Vancouver, British Columbia – April 25, 2024 – CoTec Holdings Corp. (TSXV: CTH; OTCQB: CTHCF) (the “Corporation”) is pleased to announce that it has completed an initial closing (the “Initial Closing”) of its previously announced non-brokered private placement of up to 6,000,000 units (each, a “Unit”) at a price of $0.50 per Unit for gross proceeds of up to $3,000,000 (the “Private Placement”). Each Unit consists of one common share in the capital of the Corporation (each a “Common Share”) and one Common Share purchase warrant (each a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $1.05 for a period of 12 months following the issuance of the Units.
Pursuant to the Initial Closing, the Corporation issued a total of 4,141,025 Units for aggregate gross proceeds of $2,070,513.07. The Corporation expects to complete additional closings of the Private Placement in May 2024.The Corporation will use the gross proceeds of the Private Placement to fund the ongoing Feasibility Study for HyProMag USA, the Preliminary Economic Assessment of the Lac Jeannine Project and for general working capital purposes.
Kings Chapel International Limited (“Kings Chapel”) purchased an aggregate of 4,000,000 Units in the Initial Closing. Kings Chapel is an existing insider and Control Person (as defined by TSX Venture Exchange Rules) of the Corporaiton. Julian Treger, a director of the Corporation and its Chief Executive Officer, is a beneficiary of a family trust associated with Kings Chapel. As a result, the Private Placement is a related party transaction subject to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Private Placement is exempt from the formal valuation requirements of MI 61-101 pursuant to subsection 5.5(b) of MI 61-101 because the Common Shares are listed only on the TSX Venture Exchange (the “TSXV”) and is exempt from the minority shareholder approval requirements of MI 61-101 pursuant to subsection 5.5(a) thereof, because neither the fair market value of the Units to be issued to related parties nor the consideration to be paid by related parties pursuant to the Private Placement is expected to exceed 25% of the Corporation’s market capitalization as determined in accordance with MI 61-101. The Corporation did not file a material change report more than 21 days before the expected date of the Initial Closing as the participation therein by related parties was not settled until shortly prior to the closing of the Offering.
All securities issued to 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.
Early Warning Report
Closer and closer ...
The US could not convince China to stop helping Russia
-China is the main supplier of machinery, microelectronics, nitrocellulose
-According to US Secretary of State Blinken, Russia is using Chinese products to build up its military industry
“Beijing will not be able to achieve improved relations with Europe by supporting the greatest threat to European security since the end of the Cold War,” Blinken said following talks with Xi Jinping
The United States is ready to take new measures and impose sanctions against China against the backdrop of the situation in Ukraine - Blinken said this after negotiations with Xi Jinping
"Dr Gavin Harper, Critical Materials Research Fellow at the University of Birmingham's Centre for Strategic Elements and Critical Materials"
We really are going to be extraordinarily unlucky not to make a mint here IMO ...
To-keep-up-with-china-on-critical-minerals
https://www.msn.com/en-gb/money/other/staggering-760k-jobs-at-risk-if-uk-fails-to-keep-up-with-china-on-critical-minerals/ar-AA1nEia6?ocid=entnewsntp&pc=U531&cvid=e165ccd0585841609639cf640ce7f2de&ei=51
Https://mwnation.com/use-mining-to-promote-economic-inclusion/
Worth a read. Keith Bowes of Lotus was there. SVML mention too.
Anyone seen anything about MKA attending or not?
Who's the face?
Musk?
Wouldn't surprise me.
Madinga's right to lament bureaucracy as the main hindrance to progress in the mining sector.
But sadly this conference has been largely hot air imo. No MDA and no MKA either.
https://times.mw/bank-chief-speaks-on-mining-bottlenecks/
Just watch
Goup
I'm interested in why you think so
Very interesting this one
Https://mwnation.com/chakwera-hopes-mining-will-end-forex-woes/
Interesting that they are to review existing MDAs also. Shows the importance of getting it right first time.
Full year results are due early May. I suspect there will be additional cotec partnership news in addition to project updates.
I wonder if they’ll try to put another 6.00 UT trade through today? :)
Suppose we are due news:-
Near term milestones for the recycling business include full commissioning of the recycling plant in the UK with initial commercial sales of NdFeB by HyProMag targeted for H2 2024, commissioning of the pilot scale (chemical route) recycling plant in UK to produce rare earth oxides and carbonates in H1 2024 and completion of the USA Feasibility Study in H2 2024. Initial production in the UK is targeted at 25-30tpa NdFeB with significant expansion potential.
11.54% up ?
Prestige, eh? Yeah...let's go with 'more prestige'.
I reiterate my opinion, which I first aired here some time ago now, that the people of Malawi will be better served with a relationship with the west, than with the alternative.
But I believe we can thank Obama for one particular piece of legislation (which we essentially copied, naturally) that has IMO almost certainly played a role in some of these more recent developments.
Hey ho. Good to see the SP looking less sickly, but still a long way from celebratory levels. GLA.
Looking forward to a TR1 from a face ;)
1.35m @ 6.95 reported from yesterday afternoon. Doesn't appear to be much stock @ 7.5 quoted 50k max
5.18%
Well what is noticeable is that the president met his Chinese counterpart on the sidelines at the last brics meeting. They regarded their relationship as that of brothers, partners and friends. As an emerging nation the Malawi president would probably see more prestige from Chinese investment than so called middlemen. Lth.
Yes it still looks like Malawi's politicians are trying to kill the mining sector goose before it lays its golden eggs. High taxes, and mining's expected to resolve the forex crisis too. There's also talk of adding value processing ore in country prior to export, which doesn't sit comfortably with Pulawy.
The sensible voices urging cutting bureaucracy and moving quickly are on the sidelines. Malunga and Standard Malawi Bank for example.
I've only seen Lindian and Globe attending this forum. No sign of SVML Lotus or MKA. For the companies that could currently deliver on Malawi's mining aspirations (and supposedly about to get their MDAs) not to attend this flagship event speaks volumes imo.
What will MKA's strategic review conclude? Tough it out for a bit (how long for though), or cut losses and sell up to refocus perhaps exclusively on recycling?
“Malawi Mining Investment Forum” seems to be a study in how to talk a lot without saying anything. Think I’ll go and watch some paint dry
Https://mwnation.com/malawi-dared-on-mining-potential/
At least they're talking about how important it is to get the MDAs done.
12.5m of those trades in the last week - 4.65% of the float.
TR1 ahoy.
I wonder .................