An anonymous director reports

KINGS CHAPEL INTERNATIONAL LIMITED REPORTS UPDATED OWNERSHIP POSITION IN COTEC HOLDINGS CORP.

This press release is being disseminated as required by National Instrument 62-103 -- The Early Warning System and Related Take Over Bids and Insider Reporting Issuers in connection with the filing of early warning reports by Kings Chapel International Ltd. in respect of its ownership position in Cotec Holdings Corp. (corporation). Kings Chapel is owned by an irrevocable discretionary trust associated with Julian Treger, the corporation's chief executive officer and a director of the corporation.

On June 28, 2023, Kings Chapel acquired 650,000 common shares of the corporation from a single vendor in a private transaction at a price of 53 cents per share for aggregate consideration of $344,500. The transaction was completed in reliance on the exemption from the formal bid requirements of Canadian securities legislation set out in Section 4.2 of National Instrument 62-104.

Prior to the private transaction: (i) Kings Chapel owned or controlled 17,316,307 common shares, representing approximately 31.7 per cent of the 54,627,430 issued and outstanding common shares, as well as 11,011,948 warrants to purchase common shares; and (ii) Mr. Treger owned or controlled 2,708,500 common shares, representing approximately 4.96 per cent of the issued and outstanding common shares, as well as 2,731,371 options to purchase common shares and 2,303,500 warrants to purchase common shares.

Immediately following the private transaction: (i) Kings Chapel owned or controlled 17,966,307 common shares, representing approximately 32.89 per cent of the 54,627,430 issued and outstanding common shares, as well as 11,011,948 warrants to purchase common shares; and (ii) Mr. Treger owned or controlled 2,708,500 common shares, representing approximately 4.96 per cent of the issued and outstanding common shares as well as 1,924,466 options to purchase common shares and 2,303,500 warrants to purchase common shares.

Kings Chapel and Mr. Treger hold common shares for investment purposes. Each of them has a long-term view of the investment, and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. Depending on market conditions, general economic and industry conditions, the company's business and financial condition, and/or other relevant factors, each such shareholder may develop such plans or intentions in the future.

A copy of the early warning reports to be filed by Kings Chapel in connection with the transactions described above will be available on the corporation's SEDAR profile.