VANCOUVER, BC / ACCESSWIRE / Cotec Holdings Corp. (TSX-V:CTH.H) ("CoTec" or the "Company") is pleased to announce that Mr. Julian Treger has been appointed to its Board of Directors and as Chief Executive Officer ("CEO") Designate and will succeed Mr. Hendrik Dietrichsen as CEO of the Company in due course.
Mr. Treger has recently announced his intention to step down from his CEO role at Anglo Pacific Group Plc ("Anglo Pacific") on March 31, 2022. In the interim he will continue to fulfill his duties as CEO of Anglo Pacific while utilizing up to twenty percent of his time during the transition period, to pursue other activities including his responsibility to CoTec.
Following the transition period, Mr. Hendrik Dietrichsen, will remain on the Board of Directors (the "Board") as a non-executive director.
Julian Treger commented "I am looking forward to pursuing eco-friendly and technology driven opportunities in the minerals extraction industry for CoTec over the next few years.
Going forward, and subject to the applicable regulatory and shareholder approval requirements and the availability of opportunities, my vision for CoTec is to broaden its investment focus in the commodities industry to include the acquisition and/or investment into innovative mineral extracting related technologies that are high margin and scalable and could be monetized through application to primary projects, operating mines and secondary extraction opportunities such as waste dumps and the pairing of its technology to physical assets either under license, joint venture opportunities or outright ownership.
The Company will seek to invest in truly innovative technologies which can fundamentally create a step change in the manner in which minerals can be extracted. In parallel and key to CoTec's mineral extraction focus, we will seek to acquire and operate assets utilizing these technologies to add value and minimise environmental footprint as we evolve into an operating minerals extraction business.
We expect the extractive industry sector will undergo something akin to a revolution over the next decade as it embraces technology and innovation.
The rapid adoption of technology should result in a one-off harvesting of commodities which have been previously considered uneconomic, contained within stockpiles, dumps and heaps. It will also be applicable to recycling opportunities. These technologies could also transform uneconomic primary deposits into higher margin commercially viable businesses and assist in the accelerated achievement of global carbon targets in mineral extraction.
In combination with our international network and significant mineral extraction expertise, CoTec could be well positioned to be a beneficiary of the expected technological advancements in the commodities extraction industry.
Until I leave Anglo Pacific, at the end of March 2022, I will continue to spend most of my time fulfilling the duties of that role as normal, leading the team and achieving the strategic objectives."
John Conlon, Chairman commented: "The Board wholeheartedly supports and shares Julian's views on expected changes in the commodities extraction space. We are pleased to have a successful entrepreneur and investor such as Julian spearheading the Company into this fast moving and exciting opportunity.
The Board also thanks Hendrik Dietrichsen for his services over the past seven years and his continued involvement going forward."
The Company anticipates that its new focus on the commodities technology industry may be considered a "Change of Business" under TSX Venture Exchange ("TSXV") policies and will require TSXV approval and possibly shareholder approval. The Company has not yet entered into any agreements in connection with its proposed new focus and further announcements will be made at the time of entering into any such agreements. In addition, there is no certainty that the Company will enter into any such agreements.
About CoTec Holdings Corp.
CoTec Holdings Corp. is publicly traded mining issuer currently listed on the NEX Board of the TSXV.
For further information, please contact:
CoTec Holdings Corp.
Attention: Braam Jonker
Neither the 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 release.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release may constitute "forward-looking information" within the meaning of Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable. However, the forward-looking statements in this release, including without limitation, statements pertaining to the appointment of a new CEO and the Company's proposed change of focus to the commodities technology industry, are subject to numerous risks, uncertainties and other factors that may cause future events to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks include, without limitation, sourcing and negotiating contracts for new opportunities, financing risks and delays in obtaining or inability to obtain required regulatory approvals. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: CoTec Holdings Corp.