CHAR Technologies Announces Closing of Previously Announced Private Placement, Initiation of New Marketing Efforts

Executive Summary

• CHAR Technologies closed its non‑brokered private placement, issuing 17,055,585 units at C$0.235 per unit for gross proceeds of approximately C$4.01 million.
• Each unit includes one common share and half of a non‑transferable warrant exercisable at C$0.35 per share for 24 months.
• The company also entered into a six‑month marketing and investor‑relations agreement with Outside the Box Capital Inc., paying C$150,000 in cash compensation.

Key Details

• Units Issued: 17,055,585 units at C$0.235 per unit.
• Gross Proceeds: C$4,008,062.48.
• Warrant Structure: Each unit contains one half of a warrant; two halves equal one whole warrant exercisable to purchase one common share at C$0.35 for 24 months from closing.
• Finder’s Fees Paid: C$186,078.87 in aggregate cash fees to arm’s‑length finders; no finder’s warrants issued.
• Regulatory Status: Offering remains subject to final approval by the TSX Venture Exchange; not a related‑party transaction under MI 61‑101.
• Use of Proceeds: General working capital, advancement of project pipeline, and support for capital advisory and investor‑relations services.
• Marketing Agreement: Six‑month term effective 15 Mar 2026 with Outside the Box Capital Inc.; cash compensation C$150,000 plus taxes; no stock or performance‑based compensation.
• Distribution Restrictions: Units offered under OSC 72‑503 to non‑Canadian purchasers are not subject to resale restrictions; all other securities have a statutory hold period of four months and one day.

Notable Quotes

• “The successful closing of this financing provides us with the capital needed to accelerate our project pipeline and continue delivering on our sustainable energy mission,” – Andrew White, Chief Executive Officer, CHAR Technologies Ltd.