VANCOUVER, British Columbia, Sept. 02, 2021 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”) is reporting that insiders have bought 1,010,000 common shares of the Company in the public markets over the last six months, representing an investment of $466,000 and an increase in insider common shareholdings of 6%. Insiders hold approximately 22% of the current outstanding common shares of the Company and 23% fully diluted.
The Company has seen cumulative Sales Pipeline1 and Sales Order Backlog2 growth of $2.5M or 61% this year which will result in new revenue milestones for the Company as units are delivered over the next several months. Over the course of this year, SHARC Energy has seen a growth in prospective clients that cover a diverse range of industries and locations being driven by the success of the organizations direct and indirect sales strategy.
Opportunities in SHARC Energy’s pipeline include customers representing senior living facilities, student housing, district energy projects, commercial offices and multi-family residential buildings. These opportunities are anticipated to expand the Company’s presence in British Columbia, Alberta, Saskatchewan, Ontario, as well as the United States including New York, Washington, and Colorado.
The upcoming installation and/or commissioning of units for recently announced customers such as National Western Center, ELLA and lelǝḿ, and Kingsland Junction showcase the growing footprint of SHARC and PIRANHA systems in North America. These projects are anticipated to provide increased awareness to SHARC Energy technology, which has already caught the attention of USA Congresswoman Marcy Kaptur who visited DC Water and stated, “I have never seen a technology that could have as positive of an impact on energy as what I have seen at the DC Water Headquarters.”
“We are pleased with the progress we have made this year and are excited for the opportunities that lie ahead,” said Lynn Mueller, SHARC Energy’s CEO and Chairman. “2021 is shaping up to be a milestone year for SHARC Energy!”
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.
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
ON BEHALF OF THE BOARD
| Lynn Mueller | |
| Chairman and Chief Executive Officer | |
| For investor inquiries, please contact: | For media inquiries, please contact: |
| Hanspaul Pannu | Mike Tanyi |
| Chief Financial Officer | Director of Marketing and IT |
| SHARC Energy | SHARC Energy |
| Telephone: (604) 475-7710 ext. 4 | Telephone: (604) 475-7710 ext.109 |
| 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-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 as a result 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.
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1 Sales Pipeline is a Non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the June 30, 2021 MD&A available at www.sedar.com.
2 Sales Order Backlog is a Non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the June 30, 2021 MD&A available at www.sedar.com.
