CHAR Closes $1.05 Million Private Placement

2017-12-27 20:43 ET - News Release

Mr. Andrew White Reports:

CHAR TECHNOLOGIES LTD. OVERSUBSCRIBES AND CLOSES PRIVATE PLACEMENT OF $1,055,358

Char Technologies Ltd. has closed its previously announced (dated Nov. 27, 2017) non-brokered private placement.
Char has closed 3,513,609 non-flow-through shares at a price of 21 cents per share for gross proceeds of $737,858 and flow-through shares at a price of 25 cents per flow-through share for gross proceeds of $317,500. The company closed total gross proceeds of $1,055,358.

The net proceeds from the non-brokered private placement are intended to be used for general working capital and continued technology development. Char continues work on the proposed Altech acquisition announced Nov. 27.

About Char Technologies Ltd.

CHAR is in the business of producing a proprietary activated-charcoal-like material (SulfaCHAR), which can be used to removed hydrogen sulphide from various gas streams (focusing on methane-rich and odourous air). The SulfaCHAR, once used for the gas cleaning application, has further use as a sulphur-enriched biochar for agricultural purposes (saleable soil amendment product).

We seek Safe Harbor.
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