Business
CHAR Technologies Announces Closing of Previously Announced Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES T...
About this update from Char Technologies Ltd.
[{"type":"text","content":"CHAR Technologies Announces Closing of Previously Announced Private Placement\nNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES TORONTO, Dec. 22, 2025 (GLOBE NEWSWIRE) -- CHAR Technologies (“CHAR Tech” or the “Company”) (TSXV:YES), a leader in sustainable energy solutions, is pleased to announce the successful completion of its previously announced $CDN 1 million non-brokered private placement (the “Offering”) with an institutional investor. In connection with closing of the offering, the Company issued 4,550,000 units (“Units”) at a price of $CDN 0.22 per Unit for gross proceeds of $1,001,000.   Each Unit consists of one common share of the Company (each, a “Common Share”) and one non-transferable Common Share purchase warrant (each, a “Warrant”). Each whole Warrant will be exercisable to acquire one Common Share of the Company at an exercise price of $CDN 0.32 for a period of 24 months from the closing date of the Offering. The Company will pay aggregate finder’s fees of CDN$ 60,060 in connection with subscriptions from subscribers introduced to the Offering. The Offering remains subject to final approval of the TSX Venture Exchange. 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 (“OSC 72-503”), 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 (“MI 61-101”) and therefore is not subject to TSXV Policy 5.9. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as d...