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SHARC Energy Announces Update on Convertible Debenture Financing

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, Aug. 01, 2025 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE:SHRC) (FSE: IWIA) (OTCQB:INTWF) ("SHARC Energy" or the "Company") would like to announce its intention to complete a non-brokered private placement of secured convertible debentures (each, a "Debenture") with a principal amount of up to $1,500,000 (the "Offering"). The Debenture is secured against all present and after acquired assets of the Company.

The Debentures will bear interest at a rate of 8.0% per annum and mature on the date that is 24 months from the date of issuance (the "Maturity Date"). The holder will have the option to extend the Maturity Date for a period of 12 months and receive all accrued and unpaid interest in cash or in common shares in the capital of the Company ("Common Shares") at a price of $0.10 per Common Share (the "Conversion Price"). Additionally, the outstanding principal amount owed under a Debenture may be converted into Common Shares at the Conversion Price at the option of the holder at any time on or prior to the last business day prior to the Maturity Date. The Company may from time to time, in its sole discretion, prepay all or a part of the principal amount and accrued interest without penalty.

The Company intends to use the proceeds from the Offering for working capital purposes as the Company continues to fulfil the shipment and delivery of SHARC and PIRANHA WET systems.

The Company may pay a finder's fee ...