Char Technologies increases financing to $3.97-million

Executive Summary

• Char Technologies Ltd. has increased the size of its previously announced non-brokered private placement from $2 million to approximately $3.97 million due to investor demand.
• The offering is fully subscribed, with total gross proceeds of approximately $3.97 million from the sale of up to 16,882,978 units.
• The closing is expected by or around the end of the week of March 9, 2026, subject to regulatory approvals including TSX Venture Exchange acceptance.

Key Details

• Offering Size Increase: Upsized from an initial $2 million to approximately $3.97 million in aggregate gross proceeds.
• Units Sold: Total of 16,882,978 units (an increase of 8,371,978 units from the original announcement).
• Price Per Unit: 23.5 cents per unit.
• Investor Composition: Fully subscribed with representation from institutional investors, existing long-term shareholders, and a follow-on investment from current strategic investor BMI Group.
• Closing Date: Expected by or around the end of the week of March 9, 2026, or a later date determined by the company or approving entities.
• Closing Conditions: Subject to receipt of all necessary approvals, including conditional acceptance by the TSX Venture Exchange.
• Warrant Terms: Each unit consists of one common share and one-half of a non-transferable common share purchase warrant. Each whole warrant is exercisable to acquire one common share at an exercise price of 35 cents for a period of 24 months from the closing date.
• Use of Proceeds: General working capital, continuing project development work to progress the company's project pipeline, and capital advisory and investor relations services.
• Regulatory Status: Offered via private placement pursuant to applicable exemptions from prospectus requirements in Canadian provinces and outside Canada under OSC Rule 72-503. Not a related party transaction.

Notable Quotes

• None provided in the text.