Mr. Braam Jonker reports

COTEC HOLDINGS CORP. ANNOUNCES INITIAL CLOSING OF NON-BROKERED PRIVATE PLACEMENT

CoTec Holdings Corp. has completed an initial closing of its previously announced non-brokered private placement of up to 3,333,333 units at a price of 75 cents per unit for gross proceeds of up to $2.5-million. Each unit consists of one common share in the capital of the corporation and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at an exercise price of $1.25 for a period of 12 months following the issuance of the units.

Pursuant to the initial closing, the corporation issued a total of 1,991,800 units for aggregate gross proceeds of $1,493,850. The corporation expects to complete additional closings of the private placement in December, 2023.

The corporation will use the gross proceeds of the private placement to finance pending investment commitments, to repay amounts owing to Kings Chapel International Ltd. and for working capital purposes.

All securities issued to Canadian 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.

About Cotec Holdings Corp.

Cotec is an environmental-, social- and governance-focused company investing in innovative technologies that have the potential to fundamentally change the way metals and minerals can be extracted and processed for the purpose of applying those technologies to undervalued operating assets and recycling opportunities, as the company seeks to transition into a mid-tier mineral resource producer. The company is committed to supporting the transition to a lower-carbon future for the extraction industry, a sector on the cusp of a green revolution as it embraces technology and innovation.

Cotec is a publicly traded investment issuer listed on the TSX Venture Exchange and trades under the symbol CTH.

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