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

Core Viewpoint - CHAR Technologies has announced an increase in its private placement offering to C$3.97 million in response to investor demand, indicating strong interest and support from institutional investors and existing shareholders [1] Group 1: Offering Details - The private placement was initially set at C$2 million and has been upsized to include an additional 8,371,978 units at a price of C$0.235 per unit, resulting in total gross proceeds of approximately C$3.97 million [1] - The offering consists of 16,882,978 units, with each unit comprising one common share and one half of a non-transferable common share purchase warrant, exercisable at C$0.35 for 24 months [1] - The offering has been fully subscribed and is expected to close by the end of the week of March 9, 2026, subject to necessary approvals [1] Group 2: Use of Proceeds - Proceeds from the offering will be allocated for general working capital, ongoing project development, and capital advisory and investor relations services [1] Group 3: Company Overview - CHAR Technologies specializes in high-temperature pyrolysis technology that processes unmerchantable wood and organic waste to generate renewable energy, including renewable natural gas and green hydrogen, along with solid biocarbon [1] - The company's technology aligns with the global green energy transition by diverting waste from landfills and producing sustainable clean energy for decarbonizing heavy industry [1]