Each Debenture Unit will be comprised of: (i) a
The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes supporting the continued growth of its Sales Pipeline1 and conversion to Sales Order Backlog2 (purchase orders).
In connection with the Offering, the Company may pay finders’ fees in cash or securities, or a combination thereof, to certain finders, as permitted by the policies of the Canadian Securities Exchange (the “Exchange”). There is no minimum number of Debenture Units or minimum aggregate proceeds required to close the Offering and the Company may, at its discretion, elect to close the Offering in one (1) or more tranches.
The securities issued pursuant to the Offering are subject to a statutory hold period of four (4) months plus one (1) day from the issue date of the applicable Debenture Unit in accordance with applicable securities legislation. Closing of the Offering and the issuance of the securities described hereunder are subject to several conditions, including receipt of all necessary regulatory and corporate approvals, including approval from the Exchange.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in
About SHARC Energy
SHARC Energy is publicly traded in
Learn more about SHARC Energy: Website | Investor Page | LinkedIn | YouTube | PIRANHA | SHARC
ON BEHALF OF THE BOARD
Chairman and Chief Executive Officer
For investor inquiries, please contact: | For media inquiries, please contact: |
Hanspaul Pannu | |
Chief Financial Officer | Director of Marketing & IT |
SHARC Energy | SHARC Energy |
Telephone: (604) 475-7710 ext. 4 | Telephone: 778-846-5406 |
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-LookingStatements
Certain statements contained in this news release may constitute forward-looking information (within the meaning of Canadian securities legislation), including, without limitation, the completion of the Offering, the issuance of the Debenture Units, Debentures, Warrants and Shares issuable thereunder, the intended use of proceeds from the Offering, the anticipated payment of finders’ fees and the issuance of securities in connection therewith and the receipt of all necessary regulatory and corporate approvals, including approval from the Exchange. 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.
1 Sales Pipeline is a non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the Q1 2024 MD&A.
2 Sales Order Backlog is a non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the Q1 2024 MD&A.
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