Char closes financing, hires OTBC for marketing

Executive Summary

• Char Technologies Ltd. has closed its previously announced non-brokered private placement, issuing 17,055,585 units for gross proceeds of approximately $4.01 million.
• The company entered into a six-month marketing and investor relations agreement with Outside the Box Capital Inc. (OTBC) for $150,000 to enhance market awareness and social media presence.
• Proceeds from the financing will be utilized for general working capital, advancing the project pipeline, and supporting capital advisory and investor relations services.

Key Details

• Financing Structure:
  • Units Issued: 17,055,585 units.
  • Price Per Unit: 23.5 cents.
  • Gross Proceeds: $4,008,062.48.
  • Finder’s Fees: Aggregate cash fees of $186,078.87 paid to arm's-length finders; no finders' warrants issued.
  • Regulatory Status: Subject to final approval of the TSX Venture Exchange.
• Warrant Terms:
  • Each unit consists of one common share and one-half of a non-transferable common share purchase warrant.
  • Exercise Price: 35 cents per share.
  • Term: 24 months from the closing date.
  • Resale Restrictions: Securities issued under OSC 72-503 (outside Canada) have no resale restrictions; all other securities are subject to a statutory hold period of four months and one day.
• Use of Proceeds:
  • General working capital.
  • Continue to progress the company's project pipeline.
  • Support capital advisory and investor relations services.
• Marketing Agreement:
  • Counterparty: Outside the Box Capital Inc. (OTBC), an arm's-length marketing firm.
  • Term: Six months, effective March 15, 2026.
  • Compensation: Aggregate cash compensation of $150,000 plus applicable taxes.
  • Scope: Marketing consulting, investor relations services, and marketing via social media channels (Reddit, Discord, Telegram, X, StockTwits, YouTube, Facebook).
  • Equity Compensation: No stock options, performance factors, or additional equity compensation included.

Notable Quotes

• None provided in the text.