Core Insights - CHAR Technologies Ltd. has achieved a significant milestone by its First Nation partners, Lake Nipigon Forest Management Inc., securing a Forest Resource Processing Facility Licence for the BioHub forestry processing facility in Ontario [1][2][3] - The BioHub will serve as the primary feedstock supplier for CHAR Tech's renewable energy facility, which is co-developed with LNFMI, with full construction expected to begin in 2026 [1][3] - The renewable energy facility is projected to generate annual revenues exceeding C$70 million from renewable fuels and biocarbon sales, supported by long-term offtake agreements [4] Company Developments - The Facility Licence approval is a generational milestone for Ontario's forestry sector and the four First Nation communities involved, enabling centralized forestry operations and new processing capacity [2][5] - CHAR Tech and LNFMI are advancing to the next funding stage for the renewable energy facility, seeking financing through project-level equity, non-repayable grants, and non-recourse debt [3][5] - The BioHub aligns with Ontario's environmental and economic development goals, contributing to the province's clean energy future and supporting Indigenous-led development [5][10] Industry Context - The BioHub reflects the objectives of the Made-in-Ontario Environment Plan and the Growth Plan for Northern Ontario, aiming to strengthen the local economy and accelerate advanced biofuels development [5][10] - CHAR Tech's high temperature pyrolysis technology processes wood and organic waste to generate renewable natural gas or green hydrogen and solid biocarbon, contributing to the global green energy transition [6][7]

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. TORONTO, May 12, 2025 (GLOBE NEWSWIRE) -- CHAR Technologies Ltd. ("CHAR Tech" or "the Company") (TSXV:YES) is pleased to announce the successful completion of its previously announced C$2,000,000 non-brokered private placement (the "Offering") with The BMI Group, as outlined in the May 2, 2025, strategic partnership announcement. CHAR Tech and The BMI Group are working expeditiously to finalize the definitive ...

Core Viewpoint - CHAR Technologies Ltd. and The BMI Group are entering a strategic partnership to enhance biocarbon production and have initiated a non-brokered private placement to raise C$2,000,000 for project development [1][3][8] Group 1: Strategic Partnership - The partnership aims to accelerate the commercial biocarbon production timelines at the CHAR Tech Thorold Renewable Energy Facility, targeting completion by Q4 2025 [1][8] - The BMI Group's investment will focus on revitalizing industrial sites and leveraging wood fibre for next-generation applications, indicating a long-term growth opportunity [3][8] - CHAR Tech's CEO emphasized that this collaboration will enhance project delivery and create strong returns for investors, while also opening doors for future projects, particularly in Espanola [3][8] Group 2: Private Placement Details - Bioveld Canada Inc., a subsidiary of The BMI Group, plans to subscribe for 10,000,000 common shares at a price of C$0.20 per share, raising a total of C$2,000,000 [4][8] - The net proceeds from the offering will be utilized for general working capital and ongoing development activities at the CHAR Tech Thorold facility [4][8] - The closing of the offering is anticipated on May 9, 2025, subject to necessary approvals [6][8] Group 3: Future Growth and Development - The BMI Group will also invest in project-level ownership of the CHAR Tech Thorold facility, aiming to generate commercial biocarbon production revenues by Q4 2025 [8] - The partnership includes plans to co-develop a new renewable energy production facility at Bioveld North, strategically located in northern Ontario [8]