VANCOUVER, British Columbia, Feb. 17, 2026 (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 unsecured convertible debentures (each, a "Debenture") with a principal amount of up to $2,000,000 (the "Offering").
The Offering will include an up to 25% over-allotment option, exercisable by the Company, which equates to an additional $500,000 ("Greenshoe"). If fully exercised, the total proceeds of the Offering will be gross proceeds of $2,500,000.
The Debentures will bear interest at a rate of 8.0% per annum calculated annually and paid on maturity and will mature three (3) years from the date of issuance (the "Maturity Date"). The Debentures are unsecured and will rank pari passu in right of payment of principal and interest with all current and future unsecured indebtedness of the Company. The Debentures, including any accrued and unpaid interest, will be convertible into common shares in the capital of the Company ("Common Shares") at a price of $0.125 per Common Share (the "Conversion Price") at the option of the holder.
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 its Sales Order Backlog1.
The Company may pay a finder's fee in connection with the Offering to eligible arm's length finders in accordance with applicable securities laws and the policies of the Canadian Securities Exchange. All securities issued in connection with the Offering ...
