SHARC Energy Pursues Funding through Convertible Debentures

SHARC Energy Announces Convertible Debenture Financing

SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF), renowned for pioneering wastewater energy recovery, is thrilled to reveal its initiative to execute a non-brokered private placement of unsecured convertible debentures. This significant move focuses on a principal amount of up to $1,500,000.

Details of the Offering

The convertible debentures will feature an optional 15% Over-Allotment, yielding an additional 225 units and a substantial $225,000 in proceeds. When fully exercised, this will raise the total offering to an impressive 1,725 units, totaling gross proceeds of $1,725,000.

Debenture Terms and Conditions

These debentures will carry an attractive interest rate of 10.0% per annum, set to mature 24 months from the date of issuance. Holders may opt to extend this maturity for an additional 12 months and can receive accrued interest either in cash or common shares at a conversion price of $0.15 per share. Furthermore, the principal amount under a debenture is convertible into common shares at the holder’s discretion any time before maturity. One key advantage for the company is the discretion to prepay any part of the principal and accrued interest without incurring penalties.

Investment Utilization

The funds acquired from this offering are earmarked for essential working capital to support SHARC Energy’s ongoing commitments for the shipment and delivery of its innovative Wastewater Energy Transfer (WET) systems. These systems are pivotal as they recycle thermal energy from wastewater, promoting energy-efficient heating, cooling, and hot water production for various buildings.

Finder's Fees and Compliance

In accordance with securities regulations, the company may allocate a finder’s fee to qualifying arm’s length intermediaries, ensuring compliance with relevant laws and practices established by the Canadian Securities Exchange. It's also noteworthy that all issued securities will be subject to a holding period dictated by Canadian securities regulations.

The Role of SHARC Energy

As a leader in energy recovery from wastewater, SHARC Energy specializes in transforming thermal energy recycling into cost-effective, sustainable solutions for commercial, residential, and industrial facilities. Their District Energy systems are recognized for offering significant environmental and economic benefits.

Market Presence

The company is publicly listed in Canada under CSE: SHRC, in the U.S. under OTCQB: INTWF, and Frankfurt under IWIA, demonstrating its robust global presence. SHARC Energy continues to engage with investors, showcasing how their innovative solutions contribute positively to energy conservation and environmental sustainability.

Contact Information

For inquiries regarding investments:
Hanspaul Pannu, Chief Financial & Operating Officer
SHARC Energy
Phone: (604) 475-7710 ext. 4
Email: hanspaul.pannu@sharcenergy.com

For media inquiries:
Mike Tanyi, Director of Marketing & IT
SHARC Energy
Phone: (604) 475-7710 ext. 109
Email: mike.tanyi@sharcenergy.com

Frequently Asked Questions

What is SHARC Energy known for?

SHARC Energy specializes in energy recovery systems that utilize wastewater to generate sustainable heating, cooling, and hot water solutions.

What is the purpose of this private placement?

The private placement aims to raise funds for operational expenses and advancements in SHARC Energy’s products and services.

What are the terms of the convertible debentures?

The debentures offer a 10% interest rate, maturing in 24 months, with potential conversion options for holders at a set price.

Will there be any fees associated with the offering?

Yes, eligible finders may receive a finder’s fee as per legal requirements connected to the offering.

How can I learn more about SHARC Energy?

For more information, you can visit SHARC Energy's official website or their investor relations page where updates and resources are available.

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