The Albany Gazette - CoTec Holdings Corp. Notes HyProMag USA Advances North Texas Rare Earth Magnet Facility With First Major Equipment Delivery

VANCOUVER, BC / ACCESS Newswire / November 9, 2026 / CoTec Holdings Corp. (TSXV:CTH)(OTCQX:CTHCF) ("CoTec" or the "Company") notes the press release issued today by its joint venture, HyProMag USA LLC ("HyProMag USA"), announcing the delivery of the first major process equipment to its rare earth magnet recycling and manufacturing facility in Northlake, Texas (the "Northlake Texas Facility" or the "Project"), marking an important milestone as the Project advances toward financing, commissioning and operations.

Key Highlights

• First major process equipment delivered: The first major process equipment has arrived at the Northlake Texas Facility, reflecting continued progress in detailed engineering and procurement.
• Site secured in Dallas-Fort Worth: In December 2025, HyProMag USA secured a long-term lease for the Northlake Texas Facility at Ironhead Commerce Center, Building 1, Denton County, Texas, near critical infrastructure, including the BNSF intermodal rail link and Alliance Airport.ⁱ
• Development advancing: Electrical power capacity secured through Oncor Electric Delivery Company LLC, permitting progressing with Weston Solutions, Inc., and contractor selection underway.ⁱⁱ
• Phased timeline: Initial magnet cutting and finishing operations targeted for the first half of 2027, followed by commissioning of Phase 1 integrated recycling and manufacturing operations in mid-2028.
• Production and jobs: The Northlake Texas Facility targets approximately 1,526 metric tons per year of total payable production upon completion of Phase 2ⁱⁱⁱ and is expected to create approximately 100 direct jobs.
• Expansion potential: The Expansion Pre-Feasibility Study ("Expansion PFS") announced on October 27, 2026^iv targets approximately 4,192 metric tons per year of neodymium iron boron ("NdFeB") magnet production and approximately 6,000 metric tons per year of total salable materials by 2034 across four plants.

Julian Treger, Chief Executive Officer of CoTec, commented: "The delivery of the first process equipment to the Northlake Texas Facility marks an important milestone for HyProMag USA as we advance toward commercial operations. The Project is expected to create around 100 direct jobs and support workforce training and skills development, helping build the skilled workforce required for advanced manufacturing in the United States. By establishing a domestic source of recycled rare earth magnets, HyProMag USA will strengthen U.S. manufacturing capacity and contribute to a more secure and resilient rare earth magnet supply chain."

Equipment Delivery and Site

The arrival of the equipment reflects continued progress in detailed engineering and procurement as HyProMag USA develops a secure, sustainable and domestic source of recycled rare earth permanent magnets in the United States. In December 2025, HyProMag USA secured a long-term lease agreement for the Northlake Texas Facility, located at Ironhead Commerce Center, Building 1, Dallas-Fort Worth, Denton County, Texas. The Project site is strategically located near critical infrastructure, including the BNSF intermodal rail link and Alliance Airport.

Project Development and Timeline

The Northlake Texas Facility is expected to become one of the first commercial-scale integrated rare earth magnet recycling and magnet manufacturing operations in the United States. Project development continues to advance, with electrical power capacity secured through Oncor Electric Delivery Company LLC, permitting progressing with Weston Solutions, Inc., and contractor selection underway. HyProMag USA is targeting initial magnet cutting and finishing operations in the first half of 2027, followed by commissioning of Phase 1 integrated recycling and manufacturing operations in mid-2028.

The milestone follows the successful completion of the Expansion PFS as announced on October 27, 2026, which confirmed the potential to significantly increase HyProMag USA's production capacity while maintaining robust project economics. The Expansion PFS highlighted the opportunity to establish one of the largest rare earth magnet recycling and manufacturing platforms in the United States, targeting approximately 4,192 metric tons per year of NdFeB magnet production and approximately 6,000 metric tons per year of total salable materials by 2034 across four plants.

The Northlake Texas Facility is expected to create approximately 100 direct jobs and play an important role in supporting the development of a secure, resilient and sustainable domestic rare earth magnet supply chain. By recovering valuable magnetic materials from end-of-life products and manufacturing scrap, HyProMag USA aims to transform waste streams into a domestic resource for new magnet production, reducing reliance on imported rare earth materials and supporting U.S. manufacturing.

About HyProMag USA

HyProMag USA is developing advanced rare earth magnet recycling and manufacturing operations to establish a secure domestic U.S. supply chain for NdFeB magnets, essential components for AI infrastructure, medical systems, robotics, electric vehicles, and advanced electronics. Leveraging the revolutionary Hydrogen Processing of Magnet Scrap ("HPMS") technology, developed over 15 years with over US$100 million in R&D investment, HyProMag USA is designed to deliver faster magnet-to-magnet short-loop recycling that uses 88% less energy and reduces carbon emissions by 85% compared to conventional methods. HPMS accepts a wide range of magnet-bearing feedstocks - including end-of-life EV motors, data-center and industrial equipment, consumer electronics, and manufacturing scrap - enabling recovery of magnet-grade material without chemical processing.

Ownership

HyProMag USA LLC is owned 50:50 by CoTec and HyProMag Limited. HyProMag Limited is 100% owned by Maginito Limited, which is owned 79.4% by Mkango Magnetic Materials Limited (AIM/TSX-V: MKA) and 20.6% by CoTec.

For more information on HyProMag USA, please visit www.hypromagusa.com

About CoTec

CoTec Holdings Corp. (TSXV:CTH)(OTCQX: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.

CoTec's mission is clear: accelerate the energy transition while strengthening strategic mineral supply chains for the countries we operate in. 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 and reclamation 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 differentiated 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, Chief Financial Officer - (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 development of the Northlake Texas Facility; the installation and commissioning of the delivered equipment and the delivery of further equipment; detailed engineering, procurement, permitting and contractor selection; the targeted commencement of initial magnet cutting and finishing operations in the first half of 2027; the targeted commissioning of Phase 1 of the Northlake Texas Facility in mid-2028; the targeted total payable production of approximately 1,526 metric tons per year at the Northlake Texas Facility; the results of the Expansion PFS, including the targeted salable magnet capacity of approximately 4,192 metric tons per year and total salable material of approximately 6,000 metric tons per year by 2034; expected job creation; the financing of the Project; 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: availability of financing; environmental risks and costs; permitting and regulatory risks; labor costs and shortages; uncertain supply and price fluctuations in materials; increases in energy costs; labor disputes and work stoppages; equipment leasing and availability; heavy equipment demand and availability; contractor and subcontractor performance; worksite safety issues; project delays and cost overruns; extreme weather events; social, transport, or geopolitical disruptions; availability of suitable feedstock; equipment performance and reliability; the ability to secure customer offtake and feedstock supply arrangements; changes in rare earth and magnet prices; and the accuracy of the estimates and assumptions underlying the Expansion PFS. 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.

Forward-looking statements are based on assumptions that HyProMag USA and the Company consider reasonable, including the assumptions underlying the Expansion PFS, the availability of financing on acceptable terms, the receipt of required permits and approvals, the timely delivery, installation and commissioning of equipment, and the availability of feedstock and equipment on the terms assumed.

The Company assumes no obligation 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 press 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 press release.

View the original press release on ACCESS Newswire

(W.Williams--TAG)