Toronto-listed CoTec Holdings Corp has raised nearly C$20 million (US$14.4 million) from the exercise of warrants, which major shareholder and CEO Julian Treger said was a good result given recent equity market conditions.
CoTec’s share price has climbed 141% in the past 12 months but has dipped by 36% since February 10 this year. The shares were up 7% Monday to C$1.52, capitalising the company at $162 million (US$117 million).
“We are very pleased with the successful outcome of the warrant acceleration during a challenging time in the markets,” Treger said. “This is testimony to the continued support of our shareholders and recognition of the compelling value proposition of our company.”
CoTec’s updated February 2026 investor presentation said it had about $5.8 million in the bank. Treger owned about 45% of the company and insiders 63%.
It has equity stakes in half a dozen mineral processing and metal recycling technology companies, as well as 60.3% direct and indirect ownership of HyProMag USA, which is proposing a US$430 million, three-hub neodymium iron boron (NdFeB) permanent magnet recycling-based supply plan and a potential US public listing. Hub one in central Texas, built around patented Hydrogen Processing of Magnet Scrap (HPMS) technology developed in the UK, has a $142 million targeted start-up cost.
“From its HyProMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing in Quebec, to next-generation copper and iron solutions backed by global majors, CoTec is building a diversified portfolio with long-term growth, rapid cash flow potential and high barriers to entry,” the company says.
“The result is a differentiated platform at the intersection of technology, sustainability and strategic materials.”
