TORONTO, ONTARIO--(Marketwired - July 11, 2017) -
Not for distribution in the United States or through United States wire services.
CHAR Technologies Ltd. (the "Corporation") (TSX VENTURE:YES) is pleased to announce that it has received delivery of equipment used to produce SulfaCHAR. The equipment arrived in London, Ontario, today. The arrival of the equipment signifies the commencement of milestone 2 of the Corporation's SD Natural Gas Fund (supported by Sustainable Development Technology Canada and the Canadian Gas Association) project. The Corporation expects the system installation work to be complete in early October 2017, followed by commissioning.
"The arrival of the SulfaCHAR production equipment is a significant milestone for the company," said CEO Andrew White. "Once commissioned, we will be able to produce SulfaCHAR with higher margins and greater flexibility. Additionally, the arrival of the equipment triggers payment from the SD Natural Gas fund for our next milestone."
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).
Certain statements contained in this press release contain "forward-looking information" ("forward-looking statements") within the meaning of Canadian securities laws. These forward-looking statements represent the Corporation's expectations or beliefs concerning future events, and it is possible that the events described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Corporation's control, which could cause actual results to differ materially from the results discussed in the forward-looking statements.
Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Corporation does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Corporation to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Corporation's MD&A dated May 29th, 2017 and available under the Corporation's profile on www.sedar.com. Such risks could cause actual events or the Corporation's actual results to differ materially from those contained in any forward-looking statement.
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.
CHAR Technologies Ltd.
Chief Executive Officer