SHARC Energy Systems C.SHRC

News Release

[diggin4aliving]

Here is the full news release. SHARC Energy Fully Subscribes $3.0M Private Placement Sharc International Systems Inc. Mon., December 21, 2020, 8:00 a. VANCOUVER, British Columbia, Dec. 21, 2020 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE:SHRC) (FSE:IWIA) (OTCQB:INTWF) (the Company or SHARC Energy) is pleased to announce it has completed the sale of 10,001,000 common shares (each, a Share) on a non-brokered private placement basis at a price of $0.30 per Share for gross proceeds of $3,000,300 (the Offering). Insiders of the Company invested $186,000 in the Offering. The proceeds from the fully subscribed private placement will be used for general working capital purposes in support of its sales and marketing efforts. During the month of December to date, the Company has raised an additional $529,500 through stock option (Options) and common share purchase warrant (Warrants) exercises in addition to the Offering. SHARC Energy does not anticipate any additional financings required to fund operations in 2021. With a healthy balance sheet entering the 2021 fiscal year, the Company is focused on creating shareholder value through the commercialization of SHARC and PIRANHA systems in North America and globally.

[Growth100Percnt]

This could break us past this channel we have been in for awhile now. If we see some decent revenue come in, we could see well above the .50's very easily.

[Growth100Percnt]

The best part is no need for more dilusion for 2021.  Hopefully never again.

[canyousayiii]

Or did you mean 2020 with such a definitive statement? ;-)

[Tim2Agami]

It should always be a concern when the office spitoon at Spitfire is filled by selling additional dilutional shares, and not a drop in the bucket is coming from revenues derived from sales or service contracts as a means to "support a strong balance sheeeet". Oh, forgot, that illusion of spiggot flow is somewhere dammed in the backwaters, or clogged "in the pipeline".  Or

[Scanner454]

lots of green so far on the tsx venture

[Tim2Agami]

Well, certainly those holders who got 10,000,000 shares at 30 cents are well into the green already (even if a 4 mnth hold exists to prevent immediate dumping).  On the other hand, there are lots of bucket holders and patient villagers who are seeing red. The trajectory on the 1,000,100 "compensation warrants", which looks for a price of 45 cents in two years (if the sweetening

[Growth100Percnt]

patience

[Scanner454]

merry xmas all.....wouldnt it be nice if they made money and you made money also !