CHAR Technologies Announces Increase to C$ 3.97M and Closing of Book on Previously Announced Private Placement

Executive Summary

• CHAR Technologies announced an upsized C$2 million non‑brokered private placement, adding 8,371,978 units for an additional $1.9675 M CAD in gross proceeds.
• Total offering now totals up to 16,882,978 units at $0.235 CAD per unit, targeting aggregate gross proceeds of approximately $3.97 M CAD.
• Proceeds will be used for general working capital, ongoing project development, and capital advisory/investor‑relations services.

Key Details

• Upsized Units: Additional 8,371,978 units at $0.235 CAD per unit.
• Total Units Offered: Up to 16,882,978 units.
• Aggregate Gross Proceeds Target: Approximately C$3.97 M CAD.
• Closing Timeline: Expected by the end of the week of March 9, 2026 (or later pending approvals).
• Unit Composition: Each unit = 1 common share + ½ non‑transferable common share purchase warrant.
• Warrant Terms: Whole warrant exercisable for one common share at $0.35 CAD per share, valid for 24 months from closing date.
• Subscription Status: Fully subscribed with institutional investors, existing long‑term shareholders, and a follow‑on investment from strategic investor BMI Group.
• Use of Proceeds: General working capital; support ongoing project development across the company’s pipeline; fund capital advisory and investor relations services.
• Regulatory Notes: Offering subject to TSX Venture Exchange conditional acceptance; not a related‑party transaction under MI 61‑101; units offered pursuant to prospectus exemptions in Canada and OSC 72‑503 for non‑Canadian purchasers.

Notable Quotes

• “The strong investor demand underscores confidence in CHAR’s high‑temperature pyrolysis technology and our growth trajectory,” – Andrew White, Chief Executive Officer.