SHARC Energy Enters Into Short Term Loan Agreement
VANCOUVER, British Columbia, May 16, 2025 (GLOBE NEWSWIRE) -- Inc. () () () ("SHARC Energy" or the “Company”) is pleased to announce that the Company has entered into a short-term working capital loan agreement for up to $400,000 (the “Loan”).
The Loan matures on July 31, 2025, subject to mutual agreement for extension, and bears interest at an annual rate of 8%. The Loan is secured against all present and after acquired assets of the Company.
The Loan will be used for working capital purposes as SHARC Energy works through the working capital cycle of several SHARC and PIRANHA projects that are to be delivered over the next three months.
In consideration of the Loan, the Company issued 800,000 stock options (the “Options”). Each Option entitles the holder thereof to acquire one common share of the Company at $0.10 per share for three years from the date of issuance.
About SHARC Energy
SHARC International Systems Inc. is a world leader in energy transfer with the wastewater we send down the drain every day. SHARC Energy's systems exchange thermal energy with 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
Freid Andriano
Chairman
| For investor inquiries, please contact: | For media inquiries, please contact: | |
| Mike Tanyi | ||
| Chief Financial & Operating Officer | Director of Marketing & IT | |
| SHARC Energy | SHARC Energy | |
| Telephone: (604) 475-7710 ext. 4 | Telephone: 604.475.7710 Ext.109 | |
| Email: | 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 as a result 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.
