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Day: May 17, 2025

SHARC Energy Enters Into Short Term Loan Agreement

Written by Customer Service on . Posted in Public Companies.

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...

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