Spark Energy Announces Closing of Second and Final Tranche of Private Placement
Spark Energy Minerals (SPARF) has successfully closed the second and final tranche of its non-brokered private placement, issuing 5,018,751 units at $0.072 per unit. Each unit includes one common share and half a warrant, with each whole warrant exercisable at $0.14 for 36 months. The placement was oversubscribed at 104.5% of the original maximum, reaching a total of 32,654,863 units. Notably, 40.97% of this tranche was subscribed by company insiders. Of the total units issued in this tranche, 4,139,584 units ($298,050) represented debt settlements. The company plans to use the proceeds for exploration of its Arapaima Lithium Project in Brazil's Lithium Valley and general working capital.
Spark Energy Minerals (SPARF) ha completato con successo la seconda e ultima tranche della sua collocazione privata senza intermediari, emettendo 5.018.751 unità a 0,072 $ ciascuna. Ogni unità comprende un'azione ordinaria e mezza warrant, con ogni warrant intero esercitabile a 0,14 $ per 36 mesi. La collocazione è stata sovraccettata al 104,5% del massimo iniziale, raggiungendo un totale di 32.654.863 unità. È importante sottolineare che il 40,97% di questa tranche è stato sottoscritto da dirigenti della società. Delle unità totali emesse in questa tranche, 4.139.584 unità (298.050 $) rappresentano rimborsi di debito. La società intende utilizzare i proventi per l'esplorazione del suo Progetto Arapaima Lithium nella Valle del Litio in Brasile e per il capitale circolante generale.
Spark Energy Minerals (SPARF) ha cerrado con éxito la segunda y última etapa de su colocación privada sin intermediarios, emitiendo 5.018.751 unidades a 0,072 $ por unidad. Cada unidad incluye una acción común y media warrant, siendo cada warrant completo ejercitable a 0,14 $ durante 36 meses. La colocación fue sobresuscrita al 104,5% del máximo original, alcanzando un total de 32.654.863 unidades. Cabe destacar que el 40,97% de esta etapa fue suscrito por directivos de la empresa. De las unidades totales emitidas en esta etapa, 4.139.584 unidades (298.050 $) representaron liquidaciones de deuda. La empresa planea usar los fondos para la exploración de su Proyecto Arapaima Lithium en el Valle del Litio de Brasil y para capital de trabajo general.
Spark Energy Minerals (SPARF)는 중개인 없이 진행된 두 번째이자 마지막 사모 발행을 성공적으로 마무리하며, 단위당 0.072달러에 5,018,751 단위를 발행했습니다. 각 단위는 보통주 1주와 워런트 반 주를 포함하며, 워런트 1주는 36개월 동안 0.14달러에 행사할 수 있습니다. 이번 발행은 원래 최대 한도의 104.5%를 초과 신청하여 총 32,654,863 단위에 달했습니다. 특히, 이번 트랜치의 40.97%는 회사 내부자가 청약했습니다. 이번 트랜치에서 발행된 총 단위 중 4,139,584 단위(298,050달러)는 부채 상환을 위한 것이었습니다. 회사는 수익금을 브라질 리튬 밸리에 위치한 아라파이마 리튬 프로젝트 탐사와 일반 운전자본으로 사용할 계획입니다.
Spark Energy Minerals (SPARF) a clôturé avec succès la deuxième et dernière tranche de son placement privé sans intermédiaire, émettant 5 018 751 unités à 0,072 $ par unité. Chaque unité comprend une action ordinaire et une demi-warrant, chaque warrant entier étant exerçable à 0,14 $ pendant 36 mois. Le placement a été sursouscrit à 104,5 % du maximum initial, atteignant un total de 32 654 863 unités. Il est à noter que 40,97 % de cette tranche a été souscrit par des initiés de la société. Sur le total des unités émises dans cette tranche, 4 139 584 unités (298 050 $) représentaient des règlements de dettes. La société prévoit d'utiliser les fonds pour l'exploration de son projet Arapaima Lithium dans la vallée du lithium au Brésil ainsi que pour le fonds de roulement général.
Spark Energy Minerals (SPARF) hat die zweite und letzte Tranche seiner nicht vermittelten Privatplatzierung erfolgreich abgeschlossen und dabei 5.018.751 Einheiten zu je 0,072 $ ausgegeben. Jede Einheit umfasst eine Stammaktie und eine halbe Option, wobei jede ganze Option für 36 Monate zu 0,14 $ ausgeübt werden kann. Die Platzierung war mit 104,5 % des ursprünglichen Maximums überzeichnet und erreichte insgesamt 32.654.863 Einheiten. Bemerkenswert ist, dass 40,97 % dieser Tranche von Unternehmensinsidern gezeichnet wurden. Von den insgesamt in dieser Tranche ausgegebenen Einheiten stellten 4.139.584 Einheiten (298.050 $) Schuldentilgungen dar. Das Unternehmen plant, die Erlöse für die Erkundung seines Arapaima Lithium-Projekts im Lithium-Tal Brasiliens sowie für das allgemeine Betriebskapital zu verwenden.
- Oversubscribed private placement at 104.5% of original maximum
- Strong insider participation at 40.97% of the tranche, showing management confidence
- Settlement of $298,050 in debt through unit issuance
- Proceeds will fund exploration of strategic Arapaima Lithium Project
- Significant dilution through issuance of new shares and warrants
- Large portion of placement used for debt settlement rather than new capital
Vancouver, British Columbia--(Newsfile Corp. - May 20, 2025) - Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) (FSE: 8PC) ("Spark Energy" or the "Company") is pleased to announced it has closed the final tranche of the non-brokered private placement financing of up to 32,654,863 units of the Company (the "Private Placement") as previously announced in its press release dated April 14, 2025 (the "Initial Press Release") and upsized on May 16, 2025 as announced by the Company. Any words capitalized but undefined herein shall have the meaning ascribed to such capitalized term in the Initial Press Release.
The second and final tranche closing of the Private Placement consisted of the issuance of an aggregate of 5,018,751 Units at a price of
The Private Placement was subscribed at a rate of
2,056,250 Units were subscribed for by insiders of the Company, representing
The Company relied on the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions in connection with the distribution of all 5,018,751 free trading Common Shares under tranche two of the Private Placement for proceeds of
The Company intends to use the net proceeds of the offering to continue to maximize its exploration program throughout its extensive flagship Arapaima Lithium Project in Minas Gerais, Brazil's Lithium Valley, and for general working capital requirements and other corporate purposes.
The securities of the Company have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referenced in this press release, in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Spark Energy Minerals Inc.
Spark Energy Minerals, Inc. is a Canadian company focused on the acquisition, exploration, and development of battery metals and mineral assets, with a particular emphasis on its substantial interests in Brazil. The Company's flagship project is the Arapaima Lithium project spanning 64,359 hectares in Brazil's renowned Lithium Valley, one of the most prolific mining regions in the world. This region is rapidly gaining global recognition for its vast deposits of lithium and rare earth minerals, positioning Brazil as a critical player in the global energy transition.
FOR ADDITIONAL INFORMATION SEE THE COMPANY'S WEBSITE AT:
https://sparkenergyminerals.co
Email to info@sparkenergyminerals.com
Contact: Eugene Hodgson, CEO, Tel. +1-778-744-0742
Forward-Looking Statement Disclaimer
Certain statements included in this press release constitute forward-looking statements or forward-looking information. Forward-looking statements or information can be identified by terminology such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "budget", "should", "project", "may be", or similar words (including negative or grammatical variations) suggesting future outcomes or expectations. In particular, forward-looking statements and information contained in this press release, include, but are not limited to: the use of the net proceeds of the Private Placement; the terms of the Private Placement; and the receipt of regulatory, stock exchange and other required approvals in connection with the Private Placement. Although the Company believes that the expectations implied in such forward-looking statements or information are reasonable, undue reliance should not be placed on these forward-looking statements or information because the Company can give no assurance that such statements or information will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of assumptions about the future and uncertainties, including the receipt of required regulatory approvals; current forecasts and anticipated utilization rates; the availability of debt and equity financing; and the level of competition in the marketplaces and industries in which the Company operates. Although management of the Company believes these expectations and assumptions reflected in these forward-looking statements or information to be reasonable, there can be no assurance that any forward-looking statements or information will be proved to be correct, and actual results may differ materially from those anticipated in such statements or information. For this purpose, any statements or information contained herein that are not statements or information of historical fact may be deemed to be forward-looking statements or information and readers should not place undue reliance on such forward-looking statements or information. The forward-looking statements or information contained in this press release are made as of the date hereof and the Company assumes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new contrary information, future events or any other reason, unless the Company is required by any applicable securities laws. The forward-looking statements or information contained in this press release are expressly qualified by this cautionary statement. Further information regarding the uncertainties and risks can be found in the disclosure documents filed by Spark Energy with the securities regulatory authorities, available at www.sedarplus.ca.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252861
FAQ
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