CHAR Tech Announces Planned Acquisition of Biocarbon Assets in Québec, Including 62,500 Tonne Offtake, Facility and IP

About this update from Char Technologies Ltd.

CHAR Tech Announces Planned Acquisition of Biocarbon Assets in Québec, Including 62,500 Tonne Offtake, Facility and IPTORONTO, ON / ACCESS Newswire / April 16, 2026 / CHAR Technologies Ltd. (TSXV:YES)(OTC:CTRNF)(FSE:68K):Highlights:Acquisition of Québec-based, biocarbon pellet production facility and all associated hard assetsExecution of an offtake agreement for 62,500 tonnes of biocarbon over five years (12,500 tonnes per year)Transfer of proprietary intellectual property related to biocarbon pellet productionCHAR Technologies Ltd. ("CHAR Tech" or the "Company"), a leader in sustainable biomass energy solutions, announces it has entered into a binding asset purchase agreement (the "Purchase Agreement") as of April 15, 2026 with an arm's length Québec-based metals and biocarbon company (the "Seller"), to acquire the Seller's Biocarbon assets (the "Acquisition"). The Acquisition includes the physical pilot and demonstration production facility located in Québec, proprietary intellectual property and the assumption of related liabilities. A definitive biocarbon offtake agreement will also be entered with the Seller, securing 62,500 tonnes of supply over five years at 12,500 tonnes per year (the "Offtake Agreement").Transaction OverviewAfter significant development work, the Seller's site is now poised for commercial upgrades to allow for the production of up to 15,000 tonnes per year of pelletized biocarbon. Once upgraded, the facility will then process CHAR Tech's raw biochar into biocarbon pellets suitable for heavy industrial decarbonization.The Offtake Agreement, for 62,500 tonnes over five years provides CHAR Tech long-term revenue visibility at the corporate level, and the flexibility to support the acquired facility and offtake with raw biochar and biocarbon produced across the Company's growing project pipeline, including the Saint-Félicien and Lake Nipigon Renewable Energy Projects and future developments. The purchases under the Offtake Agreement are binding for the duration of the five year term, subject to limited, customary termination provisions including force majeure and disaster outs. The price per tonne of biocarbon payable under the Offtake Agreement is confidential due to commercial sensitivity.The Acquisition is being completed for a total purchase price of US $1,000,000 on closing. Pursuant to the Offtake Agre...

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