Char Technologies arranges $2-million private placement

Executive Summary

• Char Technologies Ltd. announced a non-brokered private placement of up to 8,511,000 units at 23.5 cents per unit, raising gross proceeds of up to $2,000,085.
• The BMI Group, via its joint venture BMI Industrial, is subscribing to 50% of the offering (4,255,500 units), which will cause the BMI Group to become a new insider of the company, holding greater than 10% of issued and outstanding shares.
• Proceeds will be used for general working capital, project development, and strategic initiatives, with closing expected around February 27, 2026.

Key Details

• Transaction Structure: Non-brokered private placement of up to 8,511,000 units.
• Price: 23.5 cents per unit.
• Gross Proceeds: Up to $2,000,085.
• Unit Composition: Each unit consists of one common share and one-half of a share purchase warrant.
• Warrant Terms: Each whole warrant entitles the holder to acquire one share at an exercise price of 35 cents, exercisable for 24 months after closing.
• Investor Details: The BMI Group (through BMI Industrial) is subscribing for 4,255,500 units (50% of the offering).
• Insider Status: Upon completion, the BMI Group will beneficially own or control >10% of the company's shares, becoming a new insider under TSX Venture Exchange policies.
• Use of Proceeds: General working capital, continuing project development work to progress the project pipeline, and supporting emerging strategic initiatives.
• Regulatory/Resale Conditions:
  • Securities issued to purchasers outside Canada are not subject to resale restrictions.
  • Securities issued to purchasers in Canada are subject to a statutory hold period of four months and one day from issuance.
  • The offering is not a related party transaction.
• Closing Date: Expected on or around February 27, 2026, subject to approvals from the TSX Venture Exchange and applicable securities regulatory authorities.
• Finder’s Fees: The company may pay finders' fees on a portion of the offering, subject to TSX Venture Exchange policies.