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Initial Program Puts in Place Mechanism Enabling Deployment of Proceeds from IP Defense to Repurchase Common Stock
CORSICANA, Texas, March 19, 2025 (GLOBE NEWSWIRE) -- Birchtech Corp. (TSX: BCHT) (OTCQB: BCHT) ("Birchtech" or the "Company"), a leader in specialty activated carbon technologies for sustainable air and water treatment, today announced its Board of Directors has authorized a share repurchase program, under which the Company may purchase up to $5.0 million of shares of its common stock.
“This initial share repurchase authorization reflects the confidence in our strategy and the long-term potential we see in Birchtech common stock,” said Richard MacPherson, CEO of Birchtech Corp. “The program reflects the strong cash flow generation expected from IP wins and licensing agreements in the months to come, and our firm belief in our prospects for shareholder value creation over the long-term. Our significant progress allows us to now preemptively put in place a mechanism to begin returning capital to shareholders as we deem prudent, while maintaining a robust capital structure and flexibility to execute on our strategic initiatives – such as the impending launch of our water business.”
The share repurchase program authorizes the repurchase of up to $5.0 million of the Company’s outstanding common stock. Purchases under the share repurchase program may be made from time to time, in such amounts as management deems appropriate, through a variety of methods, which may include open market purchases, privately negotiated transactions, block trades, accelerated share repurchase transactions, purchases through 10b5-1 trading plans, or by any combination of such methods. The timing and amount of any repurchases pursuant to the share repurchase program will be determined based upon a variety of factors, including general market conditions, share price, corporate and regulatory requirements and limitations, corporate liquidity requirements and priorities, and other factors. The Company anticipates that any repurchases will not occur before the second half of 2025. The share repurchase program does not have an expiration date, does not require the Company to repurchase any specific number of shares of its common stock, if any, and may be modified, suspended or terminated at any time without notice.
About Birchtech Corp.
Birchtech Corp. (TSX: BCHT) (OTCQB: BCHT) is a leader in specialty activated carbon technologies, delivering innovative solutions for air and water purification to support a cleaner, more sustainable future. The Company provides patented SEA® sorbent technologies for mercury emissions capture for the coal-fired utility sector and is developing disruptive water purification technologies with a specialization on forever chemicals such as PFAS and PFOS. Backed by a strong intellectual property portfolio and a world-class team of activated carbon experts, Birchtech provides cleaner air to North American communities and is applying this expertise to a novel approach in water purification. To learn more, please visit www.birchtech.com.