Sparq Announces Engagement of Investor Relations Consultant

Rhea-AI Summary

Sparq Systems (OTCQB: SPRQF) has announced the engagement of John Welsh as their investor relations consultant. The initial agreement runs from June 26, 2025 to June 26, 2026, with automatic monthly renewals thereafter unless terminated.

The consultant will receive a monthly fee of CAD$10,000 and 50,000 stock options. The options will vest in 25% increments at 3, 6, 9, and 12 months from the grant date, with an exercise price set at market value. The agreement is subject to TSX Venture Exchange approval.

Toronto, Ontario--(Newsfile Corp. - June 26, 2025) - Sparq Systems Inc. (TSXV: SPRQ) (OTCQB: SPRQF) (FSE: M26) ("Sparq" or the "Company") is pleased to announce that it has engaged John Welsh (the "IR Consultant") to provide investor relations services to the Company. The IR Consultant will, among other things, initiate and maintain contact with the financial community, shareholders, investors and other stakeholders for the purpose of increasing awareness of the Company and its activities.

The initial term of the agreement with the IR Consultant (the "Investor Relations Agreement") commences on June 26, 2025 and ends on June 26, 2026, unless terminated earlier. Upon the expiration of the initial term, the Investor Relations Agreement shall automatically be renewed on a monthly basis, unless terminated earlier. Under the terms of the Investor Relations Agreement, the Company has agreed to pay the IR Consultant a monthly cash fee of CAD$10,000 (plus applicable taxes) (the "Monthly Fee"). Upon termination of the Investor Relations Agreement, the IR Consultant shall have no claims against the Company except for the Monthly Fee payable to the end of the term of the Investor Relations Agreement.

In addition to the Monthly Fee, the Company has agreed to issue to the IR Consultant options (the "Options") to purchase up to 50,000 common shares in the capital of the Company pursuant to the terms of the Company's Omnibus Equity Incentive Plan (the "Plan"). The Options shall vest and become exercisable as to 25% on each of the three (3), six (6), nine (9) and twelve (12) month anniversaries from the date of grant. The exercise price of such Options shall be equal to the Market Price (as defined in policies of the TSX Venture Exchange) at the time of grant. The Options shall be governed by a stock option agreement to be entered into by the IR Consultant and the Company and by the terms of the Plan.

The retention of the IR Consultant on the terms set out in the Investor Relations Agreement is subject to regulatory approval by TSX Venture Exchange.

ABOUT SPARQ

Sparq designs and manufactures next generation single-phase microinverters for residential and commercial solar electric applications. Sparq has developed a proprietary PV solution called the Quad; the Quad inverter optimizes four PV modules with a single microinverter, simplifying design and installation, and lowering cost for solar power installations when compared to existing market offerings. Sparq's head office is located at 945 Princess Street, Kingston, Ontario, K7L 0E9.

Cautionary Note

Certain statements contained in this press release constitute "forward-looking statements". All statements other than statements of historical fact contained in this press release, including, without limitation, any statements preceded by, followed by or that include the words "believe", "expect", "aim", "intend", "plan", "continue", "will", "may", "would", "anticipate", "estimate", "forecast", "predict", "project", "seek", "should" or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company's expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements.

Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law.

Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact:

Sparq Systems Inc.
Dr. Praveen Jain
Chief Executive Officer
Email: pjain@sparqsys.com
Tel: 343.477.1158

64250697.4

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256955

FAQ

What are the terms of Sparq Systems' (SPRQF) new investor relations agreement?

The agreement runs from June 26, 2025 to June 26, 2026, with a monthly fee of CAD$10,000 and includes 50,000 stock options that vest quarterly.

Who is the new investor relations consultant for Sparq Systems (SPRQF)?

John Welsh has been engaged as the new investor relations consultant for Sparq Systems.

How will the stock options for Sparq's IR consultant vest?

The 50,000 stock options will vest in 25% increments at three, six, nine, and twelve months from the grant date.

What is the duration of Sparq Systems' (SPRQF) IR consultant agreement?

The initial agreement runs from June 26, 2025 to June 26, 2026, with automatic monthly renewals thereafter unless terminated.