Spark Energy Minerals Enters into Agreement to Acquire Company with Prospective Lithium Assets
VANCOUVER, BC / ACCESSWIRE / October 11, 2023 / Spark Energy Minerals Inc.,
(“Spark” or the “Company” (CSE: EMIN) (Frankfurt: J8V) (OTC: MTEHD), has entered into
a share exchange agreement (the “Agreement”) dated October 10, 2023 with Bulletproof
Resources Corp. (“Bulletproof”) and each of the shareholders of Bulletproof (the “BP
Shareholders”) to acquire all of the issued and outstanding shares of Bulletproof (the “BP
Shares”) from the BP Shareholders in exchange for 5,500,100 units (each a “Unit”) of Spark at
a deemed price of $0.12 per Unit for deemed consideration of approximately $660,000 (the
“Transaction”) to be issued to the BP Shareholders on a pro rata basis. Each Unit shall consist
of one common share of Spark (each, a “Share”) and one Share purchase warrant (each, a
“Warrant”). Each Warrant shall entitle the holder thereof to purchase one additional Share at
a price of $0.15 for a period of 36 months from the date of issue.
Closing of the Transaction is subject to certain customary conditions, including the
satisfactory completion of due diligence by the Company, the Canadian Securities Exchange
shall not have objected to the completion of the Transaction, no material adverse change
shall have occurred with respect to the Company or Bulletproof, and the receipt of all
necessary corporate and regulatory approvals. Closing of the Transaction is expected to
occur on or about October 18, 2023 or such later date as may be agreed to by the parties.
Peter Wilson, Chief Executive Officer of Spark stated, "The acquisition of Bulletproof
Resources and their Brazilian mineral interests fits well with our strategy to increase our
lithium prospects in the region. Spark continues to reinforce its position as one of the larger
land holders in “Lithium Valley” with almost 35k hectares and adding this additional 21.k
hectares in Rio Grande Do Norte State”.
About Bulletproof Resources
Bulletproof, a private British Columbia corporation, is the beneficial owner of an
undivided 100% interest in 12 mineral tenements totaling 21,587.91 Ha in Rio Grande Do
Norte State, Brazil known as the “RN Property,” subject to a 1.0% net smelter return royalty.
Spark Energy Minerals Enters into Agreement to
Acquire Company with Prospective Lithium Assets
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About Spark Energy Minerals Inc.
Spark Energy Minerals, Inc., is a Canadian company pursuing battery metals and
mineral assets with newly acquired interests in Brazil and Canada. The Company has
acquired assets in some of the world's most prolific mining jurisdictions, Brazil's growing
lithium areas and in the Newfoundland, Canada region, which is also gaining recognition as a
world hot spot for lithium and rare earth mineral exploration.
FOR ADDITIONAL INFORMATION SEE THE COMPANY’S WEB SITE AT
https://sparkenergyminerals.com
Email to [email protected]
Contact: Peter Wilson, CEO, Tel. +1-604-200-2785
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.
Spark Energy Minerals News – 10-11-2023 |
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Further information about the Company is available on www.SEDAR.com under the
Company's profile.
Certain statements contained in this release may constitute “forward–looking
statements” or “forward-looking information” (collectively “forward-looking information”) as
those terms are used in the Private Securities Litigation Reform Act of 1995 and similar
Canadian laws. These statements relate to future events or future performance. The use of
any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”,
“anticipates” and similar expressions and statements relating to matters that are not
historical facts are intended to identify forward-looking information and are based on the
Company’s current belief or assumptions as to the outcome and timing of such future events.
Actual future results may differ materially. In particular, this release contains forward-looking
information relating to the business of the Company, the Property, financing and certain
corporate changes. The forward-looking information contained in this release is made as of
the date hereof and the Company is not obligated to update or revise any forward-looking
information, whether as a result of new information, future events or otherwise, except as
required by applicable securities laws. Certain statements contained in this release may
constitute “forward–looking statements” or “forward-looking information” (collectively
“forward-looking information”) as those terms are used in the Private Securities Litigation
Reform Act of 1995 and similar Canadian laws. These statements relate to future events or
future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”,
“projected”, “estimated”, “anticipates” and similar expressions and statements relating to
matters that are not historical facts are intended to identify forward-looking information and
are based on the Company’s current belief or assumptions as to the outcome and timing of
such future events. Actual future results may differ materially. In particular, this release
contains forward-looking information relating to the business of the Company, the Property,
financing and certain corporate changes. The forward-looking information contained in this
release is made as of the date hereof and the Company is not obligated to update or revise
any forward-looking information, whether as a result of new information, future events or
otherwise, except as required by applicable securities laws.
Spark Energy Minerals News – 10-11-2023 |