VANCOUVER, BC / ACCESSWIRE / March 3, 2022 / CoTec Holdings Corp. (TSXV:CTH.H) ("CoTec" or the "Company") is pleased to announce that UK-based Binding Solutions Limited ("BSL") has confirmed that it has received an equity investment from a blue-chip Asian based corporate group at a valuation of $130 million. This valuation represents a 73% increase over the $75 million valuation which CoTec has agreed to for its initial US$2M investment in BSL.
For further details regarding CoTec's BSL investment, please refer to the Company's press release dated February 28, 2022.
"We are very pleased with this recent news from BSL and congratulate them on their continued success. This is also a testament to the value proposition of our investment", said Julian Treger, CoTec's CEO Designate.
For further information, please contact:
Braam Jonker - (604) 992-5600
raam.jonker@cotec.ca
Forward-Looking Information Cautionary Statement
Statements in this press release regarding the Corporation's investments which are not historical facts are "forward-looking statements" that involve risks and uncertainties, including statements relating to the expectation that the Proposed COB and subscription receipt financing Placement will be completed on the terms described in the Company's prior announcements, and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Proposed COB, any information released or received with respect to the Proposed COB and the relating investments may not be accurate or complete and should not be relied upon.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the Proposed COB or proposed transactions and has neither approved nor disapproved the contents of this press release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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SOURCE: CoTec Holdings Corp.
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https://www.accesswire.com/691374/CoTec-Holdings-Corp-Provides-Update-on-Binding-Solutions-Limited-Investment-Valuation