Northstar Clean Technologies closes strategic investment of $2.25M from two investors and appoints board member

VANCOUVER and CALGARY — Northstar Clean Technologies Inc. announces the successful completion and closing of a C$2.25 million strategic investment from two Calgary-based strategic investors. One investor will remain anonymous, and one investor is the Chiu Family, a Calgary-based family and owner of Trico Homes, a homebuilder in Calgary, Alberta. The Strategic Investment was conducted as a non-brokered private placement of unsecured convertible debenture units of the Company at a price of C$5,000 per Convertible Debenture Unit. The Company intends to use the proceeds from the Strategic Investment for general corporate purposes and added contingency for Northstar’s proposed asphalt reprocessing facility in Calgary, Alberta.

The Company further announces that Mr. Patrick Chiu, President of Trico Communities, has been appointed to the Board of Directors of the Company effective immediately.

Mr. Aidan Mills, President & CEO and Director of Northstar, stated “We are thrilled to announce the Strategic Investment by two major long-term Calgary-based investors. To welcome the Chiu Family as a new strategic investor in our company is very exciting. Trico is one of Calgary’s most well-respected real estate companies, a certified B Corp and has qualified as one of Canada’s Best Managed Companies since 2004. As a Calgary-based clean technology company, we are excited to be supported by another reputable local Calgary-based partner and to extend our strategic investor base further down the value chain into the home building sector. We are also pleased to welcome Mr. Patrick Chiu to the Northstar Board of Directors. His insights and leadership will undoubtedly contribute to our continued success and innovation. His wealth of experience in the construction industry will prove invaluable to Northstar and complement the existing strength of our board. Together, we look forward to driving sustainable growth and making a lasting impact on the Calgary community and beyond.”

Mr. Patrick Chiu, President of Trico Communities, commented, “As a member of the homebuilding industry, we have been following the Northstar story over the past few years, as Northstar has the potential to be a major diversion solution for asphalt shingles that would otherwise be destined for Calgary landfills. We are excited to become investors in Northstar and I am honoured to be joining the Board of Directors. Northstar’s mission to divert and reprocess waste and discarded asphalt shingles perfectly embodies the Chiu Family motto of ‘doing well by doing good’. I am looking forward to working with Aidan and the Northstar team to achieve their mission to be the leader in the recovery and reprocessing of asphalt shingles in North America.”