Mr. Andrew White reports

CHAR ANNOUNCES WARRANT PROCEEDS OF $1.7 MILLION AND OPTION & RSU GRANT

Char Technologies Ltd. has received $1,703,561 from the exercise of 4,430,461 share purchase warrants. The warrants comprised 3,515,494 warrants exercised at 40 cents per common share and 914,967 broker warrants exercised at 32.5 cents per common share. The warrants were issued in connection with Char's offering of units completed in February, 2021.

Char also announces that the board of directors has approved the grant of 1,980,331 stock options to employees, consultants, directors and officers of Char, which are exercisable into common shares of Char at a price of 41.25 cents per common share. The options expire on Feb. 6, 2028, and vest immediately (except with respect to certain officers and a consultant, whose options vest with time and performance milestones over the next 12 months). Char also announces that its board of directors has approved the grant of 613,932 restricted stock units (RSU) to employees, consultants and officers of Char. The RSUs 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 Technologies Ltd.

Char Technologies' 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 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.

We seek Safe Harbor.