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VANCOUVER, BC / ACCESSWIRE / August 24, 2022 / CoTec Holdings Corp. (TSXV:CTH) (“CoTec” or the “Firm”) is happy to announce that it has filed its unaudited interim condensed consolidated monetary statements and the accompanying administration dialogue and evaluation for the three and 6 months ended June 30, 2022. The Firm reported complete earnings of roughly $2.3 million and $1.9 million for the three and 6 month durations ending June 30, 2022 on account of a rise within the worth of its investments.
Mr. Julian Treger, CEO of the Firm commented: “Occasions within the first half of the yr have reaffirmed we’re heading in the right direction. The unlucky conflict in Ukraine has created actual shortages in sure commodities which applied sciences that we now have secured entry to might assist clear up. The spike in power costs has made the shift to greener decrease carbon options extra pressing than ever. The tip of globalization and international just-in-time provide chains are including to strategic commodity demand and the weaponization of commodities by Russia implies that it’s extra vital than ever for the West to have safety of provide and independence with respect to strategic minerals. CoTec might help on this course of.”
Our three portfolio investments are doing very effectively and two have elevated considerably in worth in a short while. Binding Options Restricted is progressing quickly and its revenues are a lot larger than final yr. It’s at present trying to elevate funds at roughly triple our funding value. Magiron LLC continues to broaden its asset base and will play a significant position in creating inexperienced metal independence for the US. It’s taking a look at elevating capital at greater than 5 occasions our latest value. Lastly, Mkango Sources Ltd. is constructing its pilot plant in the UK to exhibit its inexperienced magnet and uncommon earth recycling enterprise at scale.”
Mr. Treger continued: “We’re additionally happy to report some very attention-grabbing new funding alternatives in our pipeline together with a revolutionary inexperienced agricultural product and a brand new expertise to extract vanadium, titanium and the powder needed for 3D printing. Our potential to pursue extra alternatives continues to be constrained primarily by entry to extra capital and we’re actively contemplating numerous fundraising alternate options. We’re excited to be in a really strategic house on the proper time.”
Webinar
For extra context, please be part of CEO Julian Treger for a dwell occasion on August twenty sixth at 12 pm EST / 9 am PST. Q&A will comply with the transient presentation. Click on right here to register: https://my.6ix.com/xCaM8pkJ
About CoTec
CoTec is an ESG-focused firm investing in modern applied sciences which have the potential to essentially change the way in which metals and minerals may be extracted and processed. The Firm is dedicated to supporting the transition to a decrease carbon future for the extraction business, a sector on the cusp of a inexperienced revolution because it embraces expertise and innovation. CoTec is a publicly traded mining issuer listed on the Toronto Enterprise Inventory Change and trades below the image CTH.V
For additional info, please contact:
Braam Jonker – (604) 992-5600
Ahead-Wanting Info Cautionary Assertion
Statements on this press launch relating to the Firm and its investments which aren’t historic details are “forward-looking statements” that contain dangers and uncertainties, together with statements referring to administration’s expectations with respect to its present and potential future investments, the worth of such investments and the advantages to the Firm which can be implied from such statements. Since forward-looking statements deal with future occasions and situations, by their very nature, they contain inherent dangers and uncertainties. Precise ends in every case might differ materially from these at present anticipated in such statements. For additional particulars relating to dangers and uncertainties dealing with the Firm please discuss with “Danger Elements” within the Firm’s submitting assertion dated April 6, 2022, a duplicate of which can be discovered below the Firm’s SEDAR profile at www.sedar.com.
Neither TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this information launch.
SOURCE: CoTec Holdings Corp.
View supply model on accesswire.com:
https://www.accesswire.com/713434/Cotec-Holdings-Corp-Information-Second-Quarter-2022-Outcomes-and-Stories-Preliminary-Revenue
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