CHAR Releases Biocarbon Plant Video and Announces Proposed Financing
Not for distribution in the United States or through United States wire services
TORONTO, Dec. 04, 2018 (GLOBE NEWSWIRE) — CHAR Technologies Ltd. (“CHAR”) (YES – TSXV) is pleased to announce that it has released a video of its biocarbon production facility, available at www.CharTechnologies.com. CHAR creates two types of biocarbon, an activated charcoal “SulfaCHAR” and a solid biofuel (bio-coal) “CleanFyre.” At full capacity, the facility will be capable of producing up to 5 tonnes per day of biocarbon.
Additionally, CHAR is proposing a non-brokered private placement of up to 1,666,667 flow-through common shares of CHAR at a price of $0.21 per flow-through common share, for gross proceeds of up to $350,000. The net proceeds from the non-brokered private placement are intended to be used for continued development of CHAR’s biocarbon facility and CleanFyre technology.
CHAR Technologies Ltd is a cleantech development and services company, specializing in biocarbon development (activated charcoal ‘SulfaCHAR’ and solid biofuel ‘CleanFyre’) and custom equipment for industrial air and water treatment, and providing services in environmental management, site investigation and remediation, engineering, and resource efficiency.
Statements contained in this press release contain “forward-looking information” within the meaning of Canadian securities laws (“forward-looking statements”). Forward-looking statements include statements in respect of the private placement of flow-through common shares in the capital of CHAR, including the anticipated size of the offering and the anticipated closing time of the offering. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in CHAR’s MD&A dated August 27th, 2018 and available under CHAR’s profile on www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Chief Executive Officer
CHAR Technologies Ltd.