Char Technologies arranges $1-million private placement

Mr. Andrew White reports CHAR TECHNOLOGIES ANNOUNCES C$1M PRIVATE PLACEMENT Char Technologies Ltd. intends to complete a non-brokered private placement of up to five million units at a price of 20 cents per unit for gross proceeds of up to $1-million. Each unit will comprise one common share of the company and one share purchase warrant. Each warrant will entitle the holder to acquire one share for 24 months after the closing of the offering at a price of 30 cents per share. The units under the offering are being offered to purchasers outside of Canada pursuant to an exemption from the prospectus requirement available under Section 2.3 of Ontario Securities Commission Rule 72-503, Distributions Outside Canada, and accordingly, the securities issued pursuant to OSC 72-503 will not be subject to resale restrictions. The offering is not a related party transaction as defined by Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, and therefore is not subject to TSX Venture Exchange Policy 5.9. The offering is subject to final acceptance of the TSX-V. Proceeds of the offering will be used for general working capital, to support continuing project development work to continue to progress the company's project pipeline, and to support capital advisory and investor relations services. The company may pay finders' fees in connection with the offering, subject to compliance with the policies of the TSX-V and applicable securities legislation. The closing of the offering is expected to occur by or around the end of the week of Dec. 16 and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX-V. About Char Technologies Ltd. Char Technologies' first-in-kind high-temperature pyrolysis (HTP) technology processes unmerchantable wood and organic wastes to simultaneously generate two renewable energy revenue streams, renewable natural gas (RNG) or green hydrogen, and a solid biocarbon that is a carbon-neutral drop-in replacement for metallurgical steel making coal. Char's HTP is an ideal waste to energy solution that aligns with the global green energy transition by diverting waste from landfills and generating sustainable clean energy to decarbonize heavy industry. We seek Safe Harbor.