International Wastewater Systems announces Initial Closing of Financing

International Wastewater Systems announces Initial Closing of Financing

VANCOUVER, B.C., December 23, 2016 – International Wastewater Systems Inc. (the “Company”) (CSE: IWS) (FRANKFURT: IWI) (OTC: INTWF) is pleased to announce an initial closing of the first tranche of the Company’s private placement (the “Placement”) previously announced on November 30, 2016.

Pursuant to the first tranche of the Placement, which is offered on a non-brokered basis, the Company has completed an initial closing issuing 2,275,333 common shares (“Shares”) at a price of $0.30 per Share for gross proceeds of $682,600.10. The Company has paid cash commission in the amount of $38,287.51, being 7.5% of the aggregate proceeds from the sale of Shares to purchasers introduced by the finders. The Company has also issued non-transferrable warrants (“Finder’s Warrants”) to acquire a total of 127,625 Shares, being 7.5% of the number of Shares sold under the first tranche of the Placement to purchasers introduced by the finders. Each Finder’s Warrant entitles the holder to purchase one Share at a price of $0.30 for two years from the closing date. All securities issued in connection with this initial closing of the Placement are subject to a statutory hold period expiring on April 24, 2017 in accordance with applicable securities legislation.

ON BEHALF OF THE BOARD

“Lynn Mueller”

Lynn Mueller

Chairman and Chief Executive Officer

FOR MORE INFORMATION, PLEASE CONTACT:

Yaron Conforti, CFO and Director

Telephone: (416) 716-8181

Email: [email protected]

About International Wastewater Systems Inc.

International Wastewater Systems Inc. is a world leader in thermal heat recovery. IWS systems recycle thermal energy from wastewater, generating the most energy efficient and economical systems for heating, cooling & hot water for commercial, residential and industrial buildings. IWS is publicly traded in Canada (CSE: IWS), the United States (OTC:INTWF) and Germany (Frankfurt: IWI).

The CSE does not accept responsibility for the adequacy or accuracy of this release.

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

INVESTOR INQUIRIES

Hanspaul Pannu
Chief Financial Officer
(604) 475-7710 ext. 4

MEDIA INQUIRIES

Mike Tanyi
Director of Marketing and IT 
(604) 475-7710 ext.109

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. 


[1] Sales Pipeline is a Non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the nine months ended September 30, 2021 MD&A.

[2] Sales Order Backlog is a Non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the nine months ended September 30, 2021 MD&A.

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