Char Technologies arranges $1-million private placement

Executive Summary

• Char Technologies Ltd. announced a non-brokered private placement of up to 5 million units at $0.20 per unit, raising gross proceeds of up to $1 million.
• Each unit consists of one common share and one share purchase warrant exercisable at $0.30 per share for 24 months.
• Proceeds are designated for general working capital, project development, and capital advisory/investor relations services.

Key Details

• Transaction Structure: Non-brokered private placement of up to 5,000,000 units.
• Price: $0.20 CAD per unit.
• Gross Proceeds: Up to $1,000,000 CAD.
• Warrant Terms: Each unit includes one warrant; each warrant allows the holder to purchase one common share at an exercise price of $0.30 CAD. Warrants are exercisable for 24 months following closing.
• Use of Proceeds: General working capital, continuing project development work to progress the project pipeline, and capital advisory and investor relations services.
• Regulatory Status: Offered outside Canada under an exemption from prospectus requirements (OSC Rule 72-503); securities are not subject to resale restrictions. Not a related party transaction under MI 61-101.
• Closing Conditions: Subject to final acceptance by the TSX Venture Exchange (TSX-V) and receipt of all necessary approvals.
• Expected Closing: By or around the end of the week of December 16.
• Finder’s Fees: The company may pay finders' fees, subject to TSX-V policies and applicable securities legislation.

Notable Quotes

• None provided in the release.