CoTec Holdings Corp. Files Annual Financial Statements and MD&A - Seite 2

BSL secured a US$17.5 million investment from Mineral Resources Limited ("MinRes") at a valuation of US$158 million, a 110.67% increase over CoTec's investment resulting in a gain of $1.483 million

Invested US$1.5 million in Ceibo, developer of a revolutionary process to leach low-grade primary copper sulphides, such as chalcopyrite, and copper waste material using a proprietary high throughput inorganic leaching technology

Participated in five cash calls for an aggregate amount US$484K to maintain its investment into MagIron at ~17% on a fully diluted basis

MagIron completed independent laboratory scale metallurgical test work demonstrating the potential to double historical iron recovery achieved at Plant 4 and to produce Direct Reduction grade iron concentrate

Corporate

Raised gross proceeds of $9.3 million through two non-brokered private placement and a further $2.25 million through the exercise of 3 million warrants at $0.75

Formed a partnership with the Birmingham Centre for Strategic Elements and Critical Materials at the University of Birmingham to identify and commercialize disruptive technologies related to the critical mineral extraction industry

Became a member of Securing America's Future Energy ("SAFE"). SAFE enhances energy security and supports U.S. economic resurgence and resiliency, by advancing transformative transportation and mobility technologies whilst ensuring the United States and allies secure key aspects of the technology supply chain

Julian Treger, CoTec CEO commented; "CoTec had a very successful year, during which we laid the foundation for its transformation from an investor in disruptive natural resource technology to a future resource producer applying such technologies to marginal and reclamation assets and recycling opportunities."

"Though we are targeting another two technology investments for 2024, our main focus has shifted to the operational roll out of the HyProMag technology in the USA, the preliminary economic assessment of the Lac Jeannine property and identifying other operational application opportunities for our existing technologies."

"We believe that the Company's current portfolio of investments and operational opportunities provide a compelling value proposition, and insiders continue to support the Company through significant participation in private placements and share purchases in the market. Over the past six months, Kings Chapel International, a Company associated with myself, invested $4.25 million in the Company, including the exercise of 3 million warrants at $0.75."