CHAR Technologies Announces Closing of Previously Announced Private Placement

Executive Summary

• CHAR Technologies successfully closed its previously announced $CDN 1 million non‑brokered private placement, issuing 4,550,000 units at $0.22 per unit for gross proceeds of $1,001,000.
• Each unit includes one common share and one non‑transferable warrant exercisable at $0.32 per share for up to 24 months.
• Proceeds will be used for general working capital, advancing the project pipeline, and supporting capital advisory and investor‑relations activities.

Key Details

• Units Issued: 4,550,000 units (each = 1 common share + 1 warrant).
• Pricing: $CDN 0.22 per unit; total gross proceeds of $CDN 1,001,000.
• Warrant Terms: One‑year‑later exercisable at $CDN 0.32 per share; each warrant non‑transferable; 24‑month exercise period from closing date.
• Finder’s Fees: Aggregate finder’s fees of $CDN 60,060 payable to subscribers who introduced investors.
• Regulatory Status: Offering subject to final TSX Venture Exchange approval; conducted under OSC 72‑503 exemption for distributions outside Canada; not a related‑party transaction under MI 61‑101.
• Use of Proceeds: General working capital, continuation of project pipeline development, and support for capital advisory and investor‑relations services.

Notable Quotes

(No direct quotes were included in the release.)