VANCOUVER, British Columbia, May 16, 2025 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("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.
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
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
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