VANCOUVER, BC / ACCESSWIRE / June 29, 2023 / 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 (the "Early Warning Reports") by Kings Chapel International Limited ("Kings Chapel") in respect of its ownership position in CoTec Holdings Corp. (TSXV:CTH) (the "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 ("Common Shares") from a single vendor in a private transaction at a price of C$0.53 per share for aggregate consideration of C$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 31.70% of the 54,627,430 issued and outstanding Common Shares as well as 11,011,948 warrants to purchase Common Shares and (ii) Julian Treger owned or controlled 2,708,500 Common Shares representing approximately 4.96% 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% of the 54,627,430 issued and outstanding Common Shares as well as 11,011,948 warrants to purchase Common Shares and (ii) Julian Treger owned or controlled 2,708,500 Common Shares representing approximately 4.96% 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. Jonker 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 at www.sedar.com
The head office of the Corporation is located at Suite 428, 755 Burrard Street, Vancouver, BC V6Z 1X6.
Kings Chapel's address is No. 2 The Forum, Grenville Street, St. Helier, Jersey, JE1 4HH.
To obtain a copy of the Early Warning Report filed under National Instrument 62-103, please contact Braam Jonker at (604) 992-5600.
SOURCE: CoTec Holdings Corp.
View source version on accesswire.com:https://www.accesswire.com/764834/Kings-Chapel-International-Limited-Reports-Updated-Ownership-Position-in-CoTec-Holdings-Corp
