CHAR Tech Announces Extension of Term Warrants, RSU and Options Grant
TORONTO, June 20, 2025 (GLOBE NEWSWIRE) -- (“CHAR Tech” or the “Company”) (TSXV:YES) a leader in sustainable energy solutions, announces that the Board of Directors has approved the amendment of up to 2,750,000 common share purchase warrants (the “Warrants”). The Warrants were part of the Unit Offering with ArcelorMittal XCARB S.à r.l. (“ArcelorMittal”), as previously announced July 5th, 2023, have an exercise price of $0.70, and will currently expire on July 5th, 2025. Starting on June 20th, 2025, the expiration date of the Warrants held by ArcelorMittal will be extended until July 5th, 2026. The Warrant extension is subject to final approval of the TSX Venture Exchange and the net proceeds from the exercise of the Warrants will be used for general corporate purposes.
As ArcelorMittal is considered a related party of the Company, the Warrant amendment constitutes a “related party transaction” under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions. The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101, as the fair market value of the amendment does not exceed 25% of the Company’s market capitalization.
The Board of Directors has also approved the grant of 25,000 stock options with immediate vesting to a consultant of the Company, which are exercisable into common shares of CHAR Tech at a price of $0.28 per common share and expire on February 7th, 2030. The Board of Directors has additionally approved the grant of 83,629 Restricted Share Units (“RSUs”) to a consultant of the Company which fully vest after one year from the date of issue. The foregoing grants are subject to the Company’s Amended and Restated Omnibus Long-Term Incentive Plan and approval of the TSX Venture Exchange.
About CHAR Tech
(TSXV:YES) first-in-kind high temperature pyrolysis (HTP) technology processes unmerchantable wood and organic wastes to simultaneously generate two renewable energy revenue streams, renewable natural gas (RNG) or green hydrogen and a solid biocarbon that is a carbon neutral drop-in replacement for metallurgical steel making coal.
CHAR’s HTP is an ideal waste to energy solution that aligns with the global green energy transition by diverting waste from landfills and generating sustainable clean energy to decarbonize heavy industry.
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For further information, please contact:
| Andrew White Chief Executive Officer CHAR Technologies Ltd. E: T: 866 521-3654 | Galen Cranston Director of Stakeholder Relations CHAR Technologies Ltd. E: T: 647-546-5633 |
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