CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) (‘CoTec’ or the ‘Company’) is pleased to note today’s press release by HyProMag USA, LLC (‘HyProMag USA’), its U.S.-based joint venture rare earth permanent magnet recycling and manufacturing company.
HyProMag USA announced an update on the Detailed Design phase of its Dallas-Fort Worth rare earth magnet recycling and manufacturing hub. The engineering, procurement and construction management work is being led by PegasusTSI Inc. and BBA USA Inc.
Highlights of the update include:
- Detailed Design now 25% complete, incorporating learnings from HyProMag’s UK and German facilities.
- Advanced Grain Boundary Diffusion (‘GBD’) techniques added to enhance magnet performance.
- Tripled throughput capacity at the University of Birmingham HPMS pilot facility, with over 50 pilot runs completed.
- Circa 900kg of recycled NdFeB alloy powder already produced at the Tyseley Energy Park facility in the UK.
- Four shortlisted Dallas-Fort Worth hub site options identified, with permitting to commence in Q3 2025.
- Feedstock supply collaboration advancing with Intelligent Lifecycle Solutions (ILS), which has begun stockpiling feed.
- Expansion planning underway for additional hubs in Nevada and South Carolina, and a Concept Study initiated for a complementary ‘Long Loop’ recycling process led by Worley.
Julian Treger, CEO of CoTec, commented: ‘We are very pleased with the progress of the EPCM Detailed Design. The learnings from HyProMag’s facilities in the UK and Germany continue to inform PegasusTSI’s and BBA’s work and support an accelerated project schedule targeting first magnets in H1 2027. In parallel with the EPCM Detailed Design, the company is focused on securing funding from the U.S. Government, commercial lenders, equity providers and off takers. With the commencement of the long-loop Concept Study, the Company is in a unique position as it provides both short and long-loop rare earth permanent magnet recycling. HyProMag USA’s proposed U.S. facility fully meets the requirements of the U.S. Defence Production Act (‘DPA’) Title III and will provide a secure, long-term, commercial-scale magnet recycling and production facilities in the United States.’
For further information, please refer to HyProMag USA’s press release, available at: www.hypromagusa.com.
About HyProMag USA
HyProMag USA LLC is owned 50:50 by CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) (‘CoTec’) and HyProMag Limited. HyProMag Limited is 100 per cent owned by Maginito Limited which is owned on a 79.4/20.6 per cent basis by Mkango Resources Ltd. (AIM/TSX-V:MKA) and CoTec.
About CoTec
CoTec Holdings Corp. (TSX-V:CTH)(OTCQB:CTHCF) is redefining the future of resource extraction and recycling. Focused on rare earth magnets and strategic materials, CoTec integrates breakthrough technologies with strategic assets to unlock secure, sustainable, and low-cost supply chains for the United States and its allies.
CoTec’s mission is clear: accelerate the energy transition while strengthening U.S. economic and national security. By investing in and deploying disruptive technologies, the Company delivers capital-efficient, scalable solutions that transform marginal assets, tailings, waste streams, and recycled products into high-value critical minerals.
From its HyProMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing in Québec, 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 result is a game-changing platform at the intersection of technology, sustainability, and strategic materials.
For more information, please visit www.cotec.ca
For further information, please contact:
Braam Jonker – (604) 992-5600
Forward-Looking Information Cautionary Statement
Statements in this press release regarding the Company and its investments which are not historical facts are ‘forward-looking statements’ which involve risks and uncertainties, including statements relating to the Company’s interest in HyProMag USA and its proposed development and management’s expectations with respect to its current and potential future investments, including HyProMag USA, 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, due to known and unknown risks and uncertainties affecting the Company, including but not limited to resource and reserve risks; environmental risks and costs; labor costs and shortages; uncertain supply and price fluctuations in materials; increases in energy costs; labor disputes and work stoppages; leasing costs and the availability of equipment; heavy equipment demand and availability; contractor and subcontractor performance issues; worksite safety issues; project delays and cost overruns; extreme weather conditions; and social and transport disruptions. For further details regarding risks and uncertainties facing the Company please refer to ‘Risk Factors’ in the Company’s filing statement dated April 6, 2022, a copy of which may be found under the Company’s SEDAR+ profile at www.sedarplus.ca. The Company assumes no responsibility to update forward-looking statements in this press release except as required by law. Readers should not place undue reliance on the forward-looking statements and information contained in this news release and are encouraged to read the Company’s continuous disclosure documents which are available on SEDAR+ at www.sedarplus.ca.
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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