SHARC Energy Secures Vital Short-Term Funding for Growth
SHARC Energy Secures Vital Short-Term Funding for Growth
SHARC International Systems Inc. (CSE: SHRC) has recently announced a significant milestone in its financial strategy by entering into a short-term working capital loan agreement. This agreement will provide the Company with essential funding of up to $400,000, aimed at facilitating the execution of several project initiatives. This development is not just a financial maneuver; it reinforces SHARC Energy's commitment to advancing its innovative energy solutions.
Understanding the Short-Term Loan Agreement
The loan agreement, which is set to mature on July 31, 2025, comes with an annual interest rate of 8%. While the loan is primarily intended to bolster working capital, it is secured against all existing and future assets of the Company. This arrangement ensures that SHARC Energy can effectively manage its resources while working on exciting projects that promise to make significant contributions to sustainable infrastructure.
The funds raised through this loan will facilitate the working capital cycle for multiple SHARC and PIRANHA projects slated for delivery within a three-month timeframe. By securing this financial backing, SHARC Energy can continue to operate efficiently and effectively navigate the evolving landscape of the energy sector.
Empowering Sustainable Energy Solutions
SHARC Energy is recognized globally as a leader in energy transfer technology, leveraging wastewater systems to produce energy efficiently. Their groundbreaking systems are designed to harness thermal energy from wastewater, transforming what is typically thought of as waste into a resource for heating, cooling, and hot water production across various settings, including commercial and industrial locations.
This strategic approach not only enhances energy efficiency but also significantly reduces costs for users. By integrating thermal energy networks, often referred to as District Energy systems, SHARC Energy is paving the way toward a more sustainable future.
Long-Term Vision and Shareholder Value
As a testament to their growth and innovation, in exchange for the loan agreement, SHARC Energy has issued 800,000 stock options entitled to acquire common shares at $0.10 per share for a period of three years. This move is designed to align the interests of management with those of shareholders, reinforcing the Company’s dedication to creating shareholder value while pursuing ambitious project goals.
SHARC Energy is publicly traded in multiple markets, including Canada (CSE: SHRC), the United States (OTCQB: INTWF), and Germany (Frankfurt: IWIA). This diversified presence allows them to capitalize on different markets while maintaining a strong commitment to their operational objectives.
About SHARC Energy
SHARC International Systems Inc. continues to lead the charge in energy innovation. With a focus on sustainability, their technology redefines how we think about energy generation and consumption. SHARC Energy’s dedication to reducing the environmental impact of traditional energy methods resonates throughout their operations as they adapt to market demands and customer needs.
Contact Information
For any investor inquiries, please reach out to:
Hanspaul Pannu
Chief Financial & Operating Officer
SHARC Energy
Telephone: (604) 475-7710 ext. 4
Email: hanspaul.pannu@sharcenergy.com
For media inquiries, please contact:
Mike Tanyi
Director of Marketing & IT
SHARC Energy
Telephone: 604.475.7710 Ext. 109
Email: mike.tanyi@sharcenergy.com
Frequently Asked Questions
What is SHARC Energy?
SHARC Energy focuses on energy transfer technologies that utilize wastewater systems for efficient energy production.
What is the purpose of the recent loan agreement?
The loan aims to support working capital needs for ongoing projects and ensure operational efficiency.
How does SHARC Energy generate energy?
The Company's systems exchange thermal energy with wastewater, enabling efficient heating, cooling, and hot water generation.
What are the terms of the loan agreement?
The loan is for up to $400,000, maturing on July 31, 2025, at an annual interest rate of 8%.
How can investors learn more about SHARC Energy?
Investors can visit their official website and browse their profiles on various stock exchanges where they are listed.
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