09:02 AM EDT, 06/20/2025 (MT Newswires) -- SHARC International Systems ( INTWF ) said Friday that it is launching an offering of unsecured convertible debentures with a principal amount of up to $1.5 million.

The offering will include an up to 15% overallotment option, which will increase the proceeds to about $1.7 million if fully exercised.

The debentures will bear 10% interest rate per annum and will mature 24 months after the date of issuance.

The holder will have the option to extend the maturity date for 12 months and receive all accrued and unpaid interest in cash or in common shares in the capital of the company for $0.15 per share.

SHARC ( INTWF ) said it plans to use the proceeds for working capital purposes as it continues to fulfill the shipment and delivery of the SHARC ( INTWF ) and PIRANHA Wastewater Energy Transfer systems.