SHARC Energy Announces Update on Convertible Debenture Financing
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, Aug. 01, 2025 (GLOBE NEWSWIRE) -- . () () () ("SHARC Energy" or the “Company”) would like to announce its intention to complete a non-brokered private placement of secured convertible debentures (each, a “Debenture”) with a principal amount of up to $1,500,000 (the “Offering”). The Debenture is secured against all present and after acquired assets of the Company.
The Debentures will bear interest at a rate of 8.0% per annum and mature on the date that is 24 months from the date of issuance (the “Maturity Date”). The holder will have the option to extend the Maturity Date for a period of 12 months and receive all accrued and unpaid interest in cash or in common shares in the capital of the Company (“Common Shares”) at a price of $0.10 per Common Share (the “Conversion Price”). Additionally, the outstanding principal amount owed under a Debenture may be converted into Common Shares at the Conversion Price at the option of the holder at any time on or prior to the last business day prior to the Maturity Date. The Company may from time to time, in its sole discretion, prepay all or a part of the principal amount and accrued interest without penalty.
The Company intends to use the proceeds from the Offering for working capital purposes as the Company continues to fulfil the shipment and delivery of and WET systems.
The Company may pay a finder’s fee in connection with the Offering to eligible arm’s length finders in accordance with applicable securities laws and the policies of the Canadian Securities Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws.
The securities of the Company referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws. Accordingly, the securities of the Company may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The above Offering is being carried out in place of the previously announced offering on which is now cancelled.
About SHARC Energy
SHARC International Systems Inc. is a world leader in energy recovery from the wastewater we send down the drain every day. SHARC Energy's systems recycle thermal energy from wastewater, generating one of the most energy-efficient and economical systems for heating, cooling & hot water production for commercial, residential, and industrial buildings along with thermal energy networks, commonly referred to as “District Energy”.
SHARC Energy is publicly traded in Canada (), the United States () and Germany () and you can find out more on our profile.
Learn more about SHARC Energy: | | | | |
ON BEHALF OF THE BOARD
Fred Andriano
Chairman
| For investor inquiries, please contact: | For media inquiries, please contact: |
Chief Financial & Operating Officer SHARC Energy Telephone: (604) 475-7710 ext. 4 Email: | Mike Tanyi Director of Marketing & IT SHARC Energy Telephone: 604.475.7710 Ext.109 Email: |
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified using words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. SHARC Energy’s actual results could differ materially from those anticipated in this forward-looking information because of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Company. SHARC Energy believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company’s expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether because of new information, future events or otherwise, except as required by applicable securities legislation.
