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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 will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws.
The securities of the Company referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws. Accordingly, the securities of the Company may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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1 Sales Order Backlog is a non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the Q3 2025 MD&A.
About SHARC Energy
SHARC International Systems Inc. is a world leader in energy recovery from the wastewater we send down the drain every day. SHARC Energy’s systems recycle thermal energy from wastewater, generating one of the most energy-efficient and economical systems for heating, cooling & hot water production for commercial, residential, and industrial buildings along with thermal energy networks, commonly referred to as “District Energy”.
SHARC Energy is publicly traded in Canada (CSE: SHRC), the United States (OTCQB: INTWF) and Germany (Frankfurt: IWIA) and you can find out more on our SEDAR profile.
Learn more about SHARC Energy: Website | Investor Page | LinkedIn | YouTube | PIRANHA | SHARC
OFFICER CHANGES
The Company would like to announce that it has appointed Lynn Mueller to the position of Vice President of Business Development.
Furthermore, the Company would like to announce that Hanspaul Pannu has vacated the title of Chief Operating Officer for the potential future dedicated headcount to the position. Mr. Pannu will continue to act as the Company’s Chief Financial Officer and Corporate Secretary.
ON BEHALF OF THE BOARD
Fred Andriano
Chairman
| For investor inquiries, please contact: Hanspaul Pannu Chief Financial Officer SHARC Energy Telephone: (604) 475-7710 ext. 4 Email: hanspaul.pannu@sharcenergy.com |
For media inquiries, please contact: John Louis Fahie Marketing SHARC Energy Telephone: 604.475.7710 Ext.109 Email: johnlouis.fahie@sharcenergy.com |
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain statements contained in this news release may constitute forward-looking information. 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.
