SHARC Energy Announces 8.0% Unsecured Debenture Unit Financing
June 24 2024 - 6:00PM
SHARC International Systems Inc. (CSE:
SHRC) (FSE: IWIA) (OTCQB: INTWF) (“SHARC
Energy” or the
“Company”) is pleased to announce a non-brokered
private placement of up to 2,000 debenture units of the Company
(“
Debenture Units”) at a price of $1,000 per
Debenture Unit, for aggregate gross proceeds of up to $2,000,000
(the “
Offering”).
Each Debenture Unit will be comprised of: (i) a
$1,000 principal amount of 8.0% unsecured debenture of the Company
(the “Debenture”); and (ii) 5,000 common share
purchase warrants of the Company (the “Warrants”).
Each Warrant will entitle the holder thereof to acquire one common
share in the capital of the Company (each, a
“Share”) at an exercise price of $0.20 per Share
for a period of 36 months from the date of issuance.
The Company intends to use the net proceeds from
the Offering for working capital and general corporate purposes
supporting the continued growth of its Sales Pipeline1 and
conversion to Sales Order Backlog2 (purchase orders).
In connection with the Offering, the Company may
pay finders’ fees in cash or securities, or a combination thereof,
to certain finders, as permitted by the policies of the Canadian
Securities Exchange (the “Exchange”). There is no
minimum number of Debenture Units or minimum aggregate proceeds
required to close the Offering and the Company may, at its
discretion, elect to close the Offering in one (1) or more
tranches.
The securities issued pursuant to the Offering
are subject to a statutory hold period of four (4) months plus one
(1) day from the issue date of the applicable Debenture Unit in
accordance with applicable securities legislation. Closing of the
Offering and the issuance of the securities described hereunder are
subject to several conditions, including receipt of all necessary
regulatory and corporate approvals, including approval from the
Exchange.
This press release does not constitute an offer
to sell or a solicitation of an offer to buy any securities in the
United States or to any “U.S. Person” (as such term is defined in
Regulation S under the U.S. Securities Act of 1933, as amended (the
“U.S. Securities Act”)) of any equity or other
securities of the Company. The securities described herein have not
been, and will not be, registered under the U.S. Securities Act or
under any state securities laws and may not be offered or sold in
the United States or to a U.S. Person absent registration under the
1933 Act and applicable state securities laws or an applicable
exemption therefrom. Any failure to comply with these restrictions
may constitute a violation of U.S. securities laws.
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 (CSE:
SHRC), the United States (OTCQB: INTWF) and Germany (Frankfurt:
IWIA) and you can find out more on our SEDAR profile.
Learn more about SHARC Energy: Website | Investor Page |
LinkedIn | YouTube | PIRANHA | SHARC
ON BEHALF OF
THE BOARD
Lynn MuellerChairman and Chief Executive Officer
For investor
inquiries, please
contact: |
For media
inquiries, please
contact: |
Hanspaul Pannu |
Mike Tanyi |
Chief Financial Officer |
Director of Marketing & IT |
SHARC Energy |
SHARC Energy |
Telephone: (604) 475-7710 ext. 4 |
Telephone: 778-846-5406 |
Email: hanspaul.pannu@sharcenergy.com |
Email: mike.tanyi@sharcenergy.com |
|
|
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 (within the
meaning of Canadian securities legislation), including, without
limitation, the completion of the Offering, the issuance of the
Debenture Units, Debentures, Warrants and Shares issuable
thereunder, the intended use of proceeds from the Offering, the
anticipated payment of finders’ fees and the issuance of securities
in connection therewith and the receipt of all necessary regulatory
and corporate approvals, including approval from the Exchange.
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.
1 Sales Pipeline is a non-IFRS measure. Please see discussion of
Alternative Performance Measures and Non-IFRS Measures in the Q1
2024 MD&A.2 Sales Order Backlog is a non-IFRS measure. Please
see discussion of Alternative Performance Measures and Non-IFRS
Measures in the Q1 2024 MD&A.