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SHARC International Systems (OTCQB: INTWF) has completed the issuance of 431,818 common shares to settle $47,500 of bona fide debt to an arm’s length party. The issued shares are subject to a statutory hold period of four months plus one day from the issue date, in accordance with applicable securities legislation. The transaction follows the company’s previous announcement from November 7, 2024.
SHARC International Systems (OTCQB: INTWF) ha completato l’emissione di 431.818 azioni ordinarie per estinguere un debito reale di $47.500 verso una parte terza non correlata. Le azioni emesse sono soggette a un periodo di blocco legale di quattro mesi più un giorno dalla data di emissione, in conformità con la legislazione sui valori mobiliari applicabile. La transazione segue l’annuncio precedente dell’azienda del 7 novembre 2024.
SHARC International Systems (OTCQB: INTWF) ha completado la emisión de 431,818 acciones comunes para saldar una deuda real de $47,500 con una parte independiente. Las acciones emitidas están sujetas a un período de restricción legal de cuatro meses más un día a partir de la fecha de emisión, de acuerdo con la legislación de valores aplicable. La transacción sigue el anuncio previo de la compañía del 7 de noviembre de 2024.
SHARC International Systems (OTCQB: INTWF)는 독립적인 당사자에 대한 $47,500의 실제 부채를 해결하기 위해 431,818주 보통주를 발행한 것을 완료했습니다. 발행된 주식은 발행일로부터 4개월과 1일의 법정 보유기간을 준수해야 하며, 이는 관련 증권 법률에 따릅니다. 이번 거래는 2024년 11월 7일 회사의 이전 발표에 따른 것입니다.
SHARC International Systems (OTCQB: INTWF) a complété l’émission de 431.818 actions ordinaires pour régler une dette authentique de $47.500 envers une partie indépendante. Les actions émises sont soumises à une période de blocage statutaire de quatre mois plus un jour à partir de la date d’émission, conformément à la réglementation sur les valeurs mobilières applicable. La transaction fait suite à l’annonce précédente de l’entreprise du 7 novembre 2024.
SHARC International Systems (OTCQB: INTWF) hat die Ausgabe von 431.818 Stammaktien abgeschlossen, um eine echte Schuld von $47.500 gegenüber einer unabhängigen Partei zu begleichen. Die ausgegebenen Aktien unterliegen einer gesetzlichen Haltedauer von vier Monaten plus einem Tag ab dem Ausgabedatum, gemäß der geltenden Wertpapiergesetzgebung. Die Transaktion folgt der vorherigen Bekanntgabe des Unternehmens vom 7. November 2024.
Positive
- Debt reduction of $47,500 through share issuance, improving balance sheet without cash expenditure
Negative
- Shareholder dilution through issuance of 431,818 new common shares
- Company settling debt through equity indicates possible cash flow constraints
VANCOUVER, British Columbia, Nov. 22, 2024 (GLOBE NEWSWIRE) — SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) (“SHARC Energy” or the “Company”) announces that further to its news release dated November 7, 2024, the Company has completed the issuance of 431,818 common shares (the “Shares”) in satisfaction of $47,500 of bona fide debt to an arm’s length party (the “Shares for Debt”).
The securities issued pursuant to the Shares for Debt are subject to a statutory hold period of four (4) months plus one (1) day from the issue date of the Shares in accordance with applicable securities legislation.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or to any “U.S. Person” (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”)) of any equity or other securities of the Company. The securities described herein have not been, and will not be, registered under the U.S. Securities Act or under any state securities laws and may not be offered or sold in the United States or to a U.S. Person absent registration under the 1933 Act and applicable state securities laws or an applicable exemption therefrom. Any failure to comply with these restrictions may constitute a violation of U.S. securities laws.
About SHARC Energy
SHARC International Systems Inc. is a world leader in energy recovery from 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
Lynn Mueller
Chairman and Chief Executive Officer
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 (within the meaning of Canadian securities legislation), including, without limitation, statements related to the future developments and the business and operations of the Company. 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 because 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
How many shares did SHARC Energy (INTWF) issue for debt settlement in November 2024?
SHARC Energy issued 431,818 common shares to settle $47,500 of debt in November 2024.
What is the hold period for SHARC Energy’s (INTWF) newly issued shares in November 2024?
The shares are subject to a statutory hold period of four months plus one day from the issue date.
How much debt did SHARC Energy (INTWF) settle through share issuance in November 2024?
SHARC Energy settled $47,500 of bona fide debt through the issuance of common shares.
