CHAR Technologies Announces Increase in Private Placement to C$3,335,000

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TORONTO, Oct.25, 2024 (GLOBE NEWSWIRE) -- CHAR Technologies ("CHAR Tech" or the "Company") (TSXV:YES), a leader in sustainable energy solutions, today announced its intention, in response to investor demand, to increase the size of the $2.5M non-brokered private placement (the "Offering") it announced on October 23rd, 2024.

The Company now intends to offer up to an additional 4,175,000 units at the offering price of CDN$0.20 per unit for additional gross proceeds of up to CDN$835,000.

However, the Company expects such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the Units subscribed for by the insiders, nor the consideration for the Units paid by such insiders, would exceed 25% of the Company's market capitalization.

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Article Details

Author / Journalist: Globe Newswire

Category: InvestingBusiness

Markets: United StatesCanada

Topics: News TSXV:YES Press Releases IPOs

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-25 @ 11:58:00 (3 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 935 words

Reading Time: 6 minutes read

Sentences: 30 lines

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Copyright Owner: © Benzinga

News ID: 23289314

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