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Spark Energy Minerals Inc. (CSE:EMIN)(OTC:MTEHF) has successfully completed a mineral claims purchase from Talisman Venture Partners Ltd., acquiring a 100% interest in six exploration permits spanning approximately 8,600 hectares in Minas Gerais, Brazil. The total cost of the transaction was $100,000 plus 10 million units at a deemed price of $0.07 per share. Notably, Talisman retained a 1% net smelter return, and Spark can acquire an additional 0.5% at a cost of $1 million. This acquisition follows recent favorable exploration results, suggesting significant potential for lithium discovery in the area.
Spark Energy Minerals Inc. has announced a purchase agreement to acquire a 100% ownership interest in the Nova Energia Property from Talisman Venture Partners. This acquisition covers approximately 8,631 hectares in Minas Gerais, Brazil, significantly expanding Spark's land holdings to nearly 34,000 hectares in the Lithium Valley. The agreement involves a payment of $100,000 CDN and the issuance of 10 million units, each consisting of one common share and a warrant to purchase an additional share at $0.15. The transaction is set to be completed within 90 days, subject to due diligence.