CoTec Holdings Corp.: Amended Convertible Loan Agreement Boosts Funding by Up to $2.5 Million
VANCOUVER, BC, February 28, 2025 – CoTec Holdings Corp. (TSXV:CTH) (“CoTec” or the “Company”), a leading technology company based in Vancouver, BC, is thrilled to share that it has reached an agreement with Kings Chapel International Limited (“Kings Chapel”) to amend the Convertible Loan Agreement initially signed on November 19, 2024. This amendment signifies a significant enhancement to the Company’s financial resources, providing CoTec with an increased principal amount of up to $2.5 million.
Background on the Convertible Loan Agreement
To provide some context, the Convertible Loan Agreement was originally put in place to provide CoTec with additional capital to execute its strategic business initiatives. The initial principal amount was set at a significant figure, but the Company’s growing needs necessitated a more substantial financial boost. As a result, both parties agreed to amend the terms of the agreement.
Impact on CoTec
The amended Convertible Loan Agreement will allow CoTec to access an additional $2.5 million in funding. This infusion of capital will enable the Company to accelerate its growth plans, invest in research and development, and expand its operations. CoTec’s management team is confident that this financial support will contribute to the Company’s ongoing success and position it for even greater achievements in the future.
Worldwide Implications
The enhancement of CoTec’s financial resources is not only a victory for the Company but also has wider-reaching implications. With more funds at its disposal, CoTec can further invest in its technology, potentially leading to advancements that could revolutionize industries and create new opportunities. Moreover, the successful negotiation of this amendment could set a positive trend for other companies seeking to secure additional financing in today’s business climate.
Conclusion
CoTec Holdings Corp.’s amended Convertible Loan Agreement with Kings Chapel International Limited represents a significant milestone for the Company. The increased principal amount of up to $2.5 million will enable CoTec to further its growth plans, invest in research and development, and expand its operations. The positive outcome of this agreement not only benefits CoTec but also has wider-reaching implications, potentially leading to industry-changing advancements and setting a trend for other companies seeking additional financing. CoTec is excited to embark on this next phase of its journey and looks forward to the opportunities that lie ahead.
- CoTec Holdings Corp. secures an amendment to its Convertible Loan Agreement with Kings Chapel International Limited.
- The amendment increases the principal amount available to CoTec by up to $2.5 million.
- This financial boost will enable CoTec to accelerate its growth plans and invest in research and development.
- The successful negotiation of this agreement could set a positive trend for other companies seeking additional financing.
