Mr. Julian Treger reports

COTEC HOLDINGS CORP. INVESTMENT MAGIRON STRENGTHENS LEADERSHIP TEAM AND LIQUIDITY POSITION

Cotec Holdings Corp. investment MagIron LLC has made a series of senior leadership changes and has completed an additional insider capital raise to support the continuing development of its project.

Joe Nielsen has been appointed chief operating officer of MagIron. Mr. Nielsen brings extensive operational and technical experience from the metals and mining industries, including from previous roles at U.S. Steel and Mesabi Metallics. He will lead MagIron's operational and technical workstreams as it advances its plans to restart its iron ore concentrator in Minnesota and pellet plant in Indiana.

Larry Lehtinen has transitioned from his role as chief executive officer to become an executive director of MagIron. In this role, Mr. Lehtinen will continue to support MagIron's development strategy and provide the benefit of his extensive operational experience and knowledge of MagIron facilities.

Julian Treger has assumed the role of executive chairman and will continue to lead MagIron's board and overall strategy.

MagIron also announced that it has raised additional capital at a premoney valuation of $550-million (U.S.) from existing shareholders. MagIron stated that the proceeds will be used to finance its continuing technical, engineering, commercial and financing workstreams in support of the planned restart of its facilities.

Cotec chief executive officer and MagIron executive chairman Julian Treger stated: "MagIron is very pleased to strengthen its leadership team through the appointment of Joe as chief operating officer. Joe's experience, leadership and operational expertise will make a significant contribution to MagIron as we work towards restarting our facilities and establishing the company as an important domestic supplier of high-quality iron units to the U.S. steel industry."

About Cotec Holdings Corp.

Cotec 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 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 result is a differentiated platform at the intersection of technology, sustainability and strategic materials.

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