SHARC Energy Secures $1.57 Million in Convertible Debentures

SHARC Energy's Recent Funding Milestone

SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) has reached a significant milestone by completing a non-brokered private placement of unsecured convertible debentures amounting to $1,570,000. This announcement follows the previous update regarding the funding strategy which has taken a new turn aimed at enhancing value for the company's shareholders.

Details of the Convertible Debentures

The newly issued Debentures have an interest rate of 8.0% per annum, calculated annually and payable at maturity, which is set for three years from the issue date. They will rank equally in rights of payment with all current and future unsecured debts. Furthermore, holders of these Debentures will have the option to convert them into common shares at a conversion price of $0.125 each.

Blocker Provision

A notable condition of the Debentures is a blocker provision that limits holders from converting a portion of the Debentures if doing so would lead them to hold over 10% of the total issued common shares. This mechanism is designed to maintain a balanced distribution of equity among stakeholders.

Associated Compensation for Finder Services

In conjunction with the debenture offering, SHARC Energy compensated a finder with a cash fee of $125,600, as well as issuing 1,004,800 compensation warrants. These warrants provide the right to purchase one common share at the same conversion price, valid for three years. This arrangement encourages collaborative efforts and strengthens relationships within the investor community.

Utilization of Funds Raised

The capital raised from this offering will be directed towards essential working capital and general corporate purposes, underlining the company’s commitment to sustaining its operational and developmental activities. This includes fulfilling ongoing projects related to SHARC and the advanced PIRANHA WET systems aimed at energy recovery and efficiency.

Future Prospects of SHARC Energy

SHARC Energy is at the forefront of innovative technologies that recycle thermal energy from wastewater. This process contributes to creating sustainable energy solutions across a broad spectrum of applications. As the demand for energy-efficient systems continues to grow, SHARC Energy stands ready to lead the industry in responsive and responsible energy management practices.

About SHARC Energy

Established as a leader in energy recovery systems, SHARC Energy focuses on creating solutions that optimize waste management and energy efficiency. Their systems aim to revolutionize how businesses and communities access and utilize energy, ultimately supporting a more sustainable future. As a publicly traded company on various exchanges, including CSE: SHRC and OTCQB: INTWF, SHARC's profile reflects a commitment to shareholder value and community engagement.

Frequently Asked Questions

1. What is the purpose of SHARC Energy's recent funding?

The recent funding of $1.57 million will be primarily used for working capital and to support general corporate purposes.

2. What are the terms of the Debentures issued by SHARC Energy?

The Debentures carry an 8.0% interest rate, maturing in three years, with a conversion option into common shares at a price of $0.125 per share.

3. Who is eligible for the compensation warrants related to the offering?

A finder, who aided in facilitating the private placement, is eligible for the compensation warrants, which allow them to purchase shares at a specified price.

4. How does SHARC Energy contribute to sustainability?

SHARC Energy develops systems that recycle thermal energy from wastewater, making significant strides in sustainable energy practices for various sectors.

5. Where can I find more information about SHARC Energy?

Further details about SHARC Energy can be accessed on their investor page and through various financial platforms where they are listed.

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