TORONTO, April 26, 2023 (GLOBE NEWSWIRE) -- CHAR Technologies Ltd. (“CHAR” or the “Company”) (TSX Venture Exchange: YES) is pleased to announce the results of the Annual and Special General Meeting, which was held on March 30th, 2023. The event was held in a hybrid format, with over 140 stakeholders in attendance in person, and a further 20 attending online. The entire meeting was recorded and is available on CHAR’s website. There were a total of 33,818,554 shares represented at the meeting. William White, James Sbrolla, Nik Nanos and Hugh Cleland were all re-elected as Directors of the Corporation, to hold office until the next Annual Meeting, or until their successors are elected or appointed. The Amended and Restated Omnibus plan was also approved by vote of disinterested shareholders.
Separately, the Company has, subject to regulatory approval, retained Venture Liquidity Providers Inc. (VLP) to initiate its market-making service to provide assistance in maintaining an orderly trading market for the common shares of the Company.
The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws. For its services, the corporation has agreed to pay VLP $5,000 per month. The agreement may be terminated at any time by the Company or VLP. The Company and VLP act at arm's length, and VLP has no present interest, directly or indirectly, in the Company or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer. The fee paid by the Company to VLP is for services only.
VLP is a specialized consulting firm based in Toronto providing a variety of services focused on TSX-V-listed issuers.
About CHAR Technologies
CHAR Technologies Ltd. (TSXV: YES) has first-in-kind high temperature pyrolysis (HTP) technology which processes unmerchantable wood and organic wastes to simultaneously generate two renewable energy revenue streams; renewable natural gas (RNG) or green hydrogen and a solid biocoal 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.
For further information:
Andrew White, Chief Executive Officer
E: andrew.white@chartechnologies.com
Mark Korol, Chief Financial Officer
E: m.korol@chartechnologies.com
T: 866 521 3654
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this news release.
Forward-Looking Statements
Statements contained in this press release contain “forward-looking information” within the meaning of Canadian securities laws (“forward-looking statements”) about CHAR and its business and operations. The words "may", "would", "will", "intend", "anticipate", "expect" and similar expressions as they relate to CHAR, are intended to identify forward-looking information. Such statements reflect CHAR’s current views and intentions with respect to future events, and current information available to CHAR, and are subject to certain risks, uncertainties and assumptions, including those risk factors discussed or referred to in CHAR’s disclosure documents filed with the securities regulatory authorities in certain provinces of Canada, including the Management’s Discussion & Analysis dated January 31, 2023, and available under CHAR’s profile on www.sedar.com. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, CHAR does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and CHAR undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
