SHARC Energy Announces Convertible Debenture Financing

Core Viewpoint - SHARC International Systems Inc. is initiating a non-brokered private placement of unsecured convertible debentures with a principal amount of up to $1,500,000, aiming to enhance working capital for its operations [1][4]. Group 1: Offering Details - The offering includes a 15% over-allotment option, potentially increasing total proceeds to $1,725,000 [2]. - The debentures will have a 10.0% annual interest rate and a maturity date of 24 months from issuance, with an option for holders to extend the maturity by 12 months [3]. - Holders can convert the principal amount into common shares at a conversion price of $0.15 per share at any time before the maturity date [3]. Group 2: Use of Proceeds - Proceeds from the offering will be utilized for working capital to support the shipment and delivery of SHARC and PIRANHA Wastewater Energy Transfer systems [4]. Group 3: Regulatory and Compliance Information - The company may pay a finder's fee to eligible finders in accordance with applicable securities laws, and all securities issued will be subject to a four-month hold period [5]. - The securities have not been registered under the U.S. Securities Act, and thus cannot be offered or sold in the U.S. unless registered or exempt [6]. Group 4: Company Overview - SHARC International Systems Inc. specializes in energy recovery from wastewater, providing energy-efficient systems for heating, cooling, and hot water production for various types of buildings [7]. - The company is publicly traded on multiple exchanges, including the Canadian Securities Exchange, OTCQB in the U.S., and Frankfurt [8].