CHAR Technologies Ltd.
TSX VENTURE : YES

August 25, 2016 15:10 ET

CHAR Technologies Ltd. Announces Filing of Third Quarter Financial Results and Grant of Stock Options

TORONTO, ONTARIO--(Marketwired - Aug. 25, 2016) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES.

CHAR Technologies Ltd. (formerly Cleantech Capital Inc.) (the 'Corporation') (TSX VENTURE:YES) is pleased to announce that it has filed its condensed interim consolidated financial statements and Management's Discussion and Analysis for the three and nine-month periods ended June 30, 2016. Full details can be accessed at the Corporation's SEDAR page at www.SEDAR.com.

The Corporation also announces that the Board of Directors has today approved the grant of 660,000 stock options to directors, officers and a consultant of the Corporation, which options are exercisable into common shares of the Corporation at a price of $0.1725 per share, which is reflective of the LOI signed on September 11th, 2015 (available on SEDAR) and pursuant to TSX Policy 4.4, subject to the rules of the TSX Venture Exchange and the Corporation's Stock Option Plan. The options have a term of five years and will expire on August 25, 2021. Of the options granted, 400,000 remain unvested, and will be released in 100,000 increments every six months, beginning March 31, 2017.

About CHAR

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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