CoTec Holdings Corp. Increases Investment in MagIron Following Significant Increase in MagIron Valuation

Jun 19, 2023

VANCOUVER, BC / ACCESSWIRE / June 19, 2023 / CoTec Holdings Corp. (TSXV:CTH, Financial)(OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to announce that it has invested a further US$120,225 into MagIron LLC ("MagIron"). The investment was part of a larger US$500,000 fundraise that was supported by existing shareholders and was completed at a pre-money valuation of US$150 million ("Fundraise"). The investment further increases CoTec's equity interest in MagIron from 16.89% to 16.94% on a fully diluted basis. CoTec's initial investment of US$2.1 million was made at a post-money valuation of US$13.4 million.

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