CHAR Technologies Announces Repricing of Previously Announced Private Placement and Fully Subscribed book

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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

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TORONTO, Dec. 16, 2025 (GLOBE NEWSWIRE) — CHAR Technologies (“CHAR Tech” or the “Company”) (TSXV:YES), a leader in sustainable energy solutions, is announcing a repricing of the non-brokered private placement announced on December 11^th, 2025.

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The offering will now be for up to 4,550,000 units (“Units”) at a price of $CDN 0.22 per Unit for gross proceeds of approximately $CDN 1 million (“Offering”). Although the Company had agreed to terms and filed for price protection, the positive market response to the Government grant of $CDN 2.25M announced on December 10^th (press release here) led to the repricing.

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The Company is also pleased to announce the Offering is still fully subscribed with institutional investor representation. The closing is expected to occur by or around the end of the week of December 22^nd, or a later date that may be determined by the Company or approving entities. The Offering is subject to certain closing conditions, including, but not limited to, the receipt of all necessary approvals, including the conditional acceptance by the TSX Venture Exchange (“TSXV”).

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Each Unit consists of one common share of the Company (each, a “Common Share”) and one non-transferable Common Share purchase warrant (each, a “Warrant”). Each whole Warrant will be exercisable to acquire one Common Share of the Company at an exercise price of $CDN 0.32 CAD for a period of 24 months from the closing date of the Offering. The Company may compensate certain eligible finders under the Offering and may pay a cash commission of up to 6% of the gross proceeds.

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Proceeds of the Offering will be used for general working capital, to support ongoing project development work to continue to progress the Company’s project pipeline, and to support capital advisory and investor relations services.

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The Units under the Offering are being offered to purchasers outside of Canada pursuant to an exemption from the prospectus requirement available under Section 2.3 of Ontario Securities Commission Rule 72-503 – Distributions Outside Canada (“OSC 72-503”), and accordingly, the securities issued pursuant to OSC 72-503 will not be subject to resale restrictions. The Offering is not a Related Party Transaction as defined by Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and therefore is not subject to TSXV Policy 5.9.

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This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities law, or an exemption from such registration requirements is available.