CHAR Technologies Announces a C$1 Million Private Placement
CHAR Technologies Ltd. (TSXV:YES), a leader in sustainable energy solutions, is engaging in a non-brokered private placement aimed at gathering up to C$1 million. The company plans to offer 5,000,000 units at a price of CDN$0.20 per unit, which will consist of common shares and purchase warrants.
Details of the Offering
Each unit consists of one common share and one purchase warrant, allowing the holder to acquire an additional share for a period of twenty-four months after closing at a price of CDN$0.30 per share. The offer is open to purchasers outside Canada under an exemption from the prospectus requirement.
Investment Strategy and Goals
The funds raised from this offering will be allocated toward general working capital, supporting ongoing project developments, and enhancing capital advisory and investor relations services.
Governance and Compliance
This offering will be undertaken in compliance with the relevant policies of the TSX Venture Exchange and applicable securities legislation. The company may also pay finder’s fees in connection with this offering as necessary.
Anticipated Closing and Regulatory Approvals
The closure of the offering is anticipated soon, with expectations to finalize by the week of December 16, pending necessary approvals. As it stands, this offering is not classified as a Related Party Transaction, streamlining the approval process.
About CHAR Technologies
CHAR Technologies employs pioneering high temperature pyrolysis (HTP) technology to transform unmerchantable wood and organic waste into renewable energy sources. This innovative process produces renewable natural gas or green hydrogen, as well as a solid biocarbon that can replace metallurgical coal in steelmaking.
Aligning with Global Energy Goals
CHAR’s approach provides an effective waste-to-energy solution, contributing to a greener energy transition by reducing landfill waste and providing clean energy options for industries looking to decarbonize.
Company Contact Information
For inquiries, you can reach out to:
Andrew White
Chief Executive Officer
CHAR Technologies Ltd.
Email: andrew.white@chartechnologies.com
Phone: 866 521-3654
Galen Cranston
Director of Stakeholder Relations
CHAR Technologies Ltd.
Email: gcranston@chartechnologies.com
Phone: 647-546-5633
Frequently Asked Questions
What is CHAR Technologies planning to do with the C$1 million raised?
The funds will be used for general working capital, ongoing project developments, and enhancing investor relations services.
How will the offering be structured?
The offering will consist of up to 5 million units priced at CDN$0.20 each, with each unit including a common share and a purchase warrant.
When is the expected closure for the offering?
The closing is anticipated by the week of December 16, subject to the approval of the TSX Venture Exchange.
Who can participate in the offering?
The offering is primarily available to purchasers outside of Canada, adhering to specific regulatory exemptions.
What technology does CHAR employ for its energy solutions?
CHAR Technologies utilizes high temperature pyrolysis technology to convert waste into renewable energy, including renewable natural gas and biocarbon.
