SHARC Energy Enters Into Short Term Loan Agreement

Rhea-AI Summary

SHARC Energy (OTCQB: INTWF) has secured a short-term working capital loan of up to $400,000 to support ongoing SHARC and PIRANHA projects scheduled for delivery in the next three months. The loan agreement, maturing on July 31, 2025, carries an 8% annual interest rate and is secured against all present and future company assets. As part of the arrangement, SHARC Energy has issued 800,000 stock options, each allowing the purchase of one common share at $0.10 per share with a three-year exercise period.

Positive

• Short-term loan provides immediate working capital for project delivery
• Relatively short maturity period (July 31, 2025) indicates temporary financing need
• Multiple projects in pipeline to be delivered in next 3 months showing business activity

Negative

• 8% interest rate indicates relatively high borrowing cost
• Loan secured against all company assets poses risk
• Stock option issuance may lead to potential dilution
• Need for short-term financing might indicate cash flow constraints

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.

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

Freid Andriano
Chairman

For investor inquiries, please contact:		For media inquiries, please contact:
Hanspaul Pannu		Mike Tanyi
Chief Financial & Operating Officer		Director of Marketing & IT
SHARC Energy		SHARC Energy
Telephone: (604) 475-7710 ext. 4		Telephone: 604.475.7710 Ext.109
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. 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 as a result 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. 

FAQ

What are the key terms of SHARC Energy's (INTWF) new loan agreement in May 2025?

SHARC Energy secured a $400,000 working capital loan maturing on July 31, 2025, with an 8% annual interest rate. The loan is secured against all company assets and includes the issuance of 800,000 stock options at $0.10 per share.

How many stock options did SHARC Energy (INTWF) issue with the loan agreement?

SHARC Energy issued 800,000 stock options, each allowing the purchase of one common share at $0.10 per share, exercisable for three years from issuance.

What is the purpose of SHARC Energy's (INTWF) $400,000 loan in May 2025?

The loan will be used for working capital purposes to support the delivery of several SHARC and PIRANHA projects scheduled over the next three months.

When does SHARC Energy's (INTWF) new working capital loan mature?

The loan matures on July 31, 2025, subject to mutual agreement for extension.