VANCOUVER, BC / August 8, 2024 / Spark Energy Minerals Inc., ("Spark" or the "Company" (CSE: EMIN) (OTC: MTEHF) (Frankfurt: 8PC) is pleased to announce it has closed the second tranche of the private placement (the “Private Placement”) previously announce
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VANCOUVER, BC / August 8, 20 24 / Spark Energy Minerals Inc., ( "Spark" or the
"Company" (CSE: EMIN) (OTC: MTEHF) (Frankfurt: 8PC) is pleased to announce it has closed
the second tranche of the private placement (the “Private Placement”) previously announced
in its press release dated May 27, 2024. The Private Placement was oversubscribed with
aggregate subscriptions for 8,709,998 Units representing $653,250 in gross proceeds received
by the Company across both tranches.
In the second tranche, the Company accepted subscriptions for 4,999,999 units (each, a “Unit”)
at a price of $0.075 per Unit for aggregate gross proceeds of $375,000.04. Each Unit is
comprised of one common share in the capital of the Company (each, a “Share”) and one
warrant (each, a “Warrant”) to purchase an additional common share (each, a “Warrant” and
collectively with the Units, the Shares and the Warrants, the “Securities”) . Each Warrant
entitles the holder to acquire an additional Share at a price of $0.125 for a period of up to two
years from the date of closing. The Company has the option to accelerate the expiry date of the
Warrants if the closing price of the Shares on the CSE is at least $0.20 for a period of 10
consecutive trading days.
Securities issued pursuant to the second tranche of the Private Placement are subject to a
statutory hold period until December 9, 2024.
The Company did not pay any finder’s fees in connection with th is tranche of the Private
Placement, and insiders of the Company subscribed for 1, 600,000 Units representing 18.36%
of the Units issued in both tranches of the Private Placement . The Company has relied on the
exemptions from the valuation and minority shareholder approval requirements of MI 61 -101
contained in sections 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation. The
Company intends to use the proceeds from the Private Placement to perform exploration work
on its properties, marketing and investor relations, and general working capital.
The Company is also pleased to announce that, further to its news releases of August 15, 2023
and March 6, 2024, it has entered into agreements with Talisman Venture Partners Ltd.
(“Talisman”) to extend the due date of an aggregate of $550,000 in cash payments owed to
Talisman under agreements to acquire the “CE Property” and the “ Tristar Property .” The
Company and Talisman have agreed to extend the due date of $150,000 owed to Talisman in
respect of the CE Property to July 31, 2025. The Company and Talisma n have also agreed to
extend the due date of $400,000 owed to Talisman in respect of the Tristar Property to August
7, 2025, provided that the Company pays $50,000 of that amount within 90 days and grants
Talisman a 1% net smelter returns royalty on the Tristar Property. The Company has the option,
at any time, to repurchase one-half (1/2) of the 1% net smelter returns royalty for $1,000,000.
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In addition, t he Company is also pleased to announce that it has engaged bullVestor Medien
GmbH (“bullVestor”) and its General Manager, Helmut Pollinger, to provide certain strategic
planning services to the Company , which services may include investor relations activities
within the meaning of applicable securities laws and the policies of the Canadian Securities
Exchange. bullVestor has been engaged for strategic planning, procurement, advertising
campaigns on financial ad networks and overseeing progress and results to heighten market
and brand awareness for Spark and to broaden the Company's reach within the investment
community.
The Company has engaged bullVestor to provide services to the Company for an initial term of
six months ending on January 31, 2025 , in consideration for the Company making a cash
payment of $400,000. bullVestor and its principal are at arm’s length to the Company and, to
the knowledge of the Company, bullVestor does not own, control, or direct any securities of
the Company. (bullVestor Medien GmbH; Address: Gutenhofen 4 - 4300 St. Valentin ; Email:
[email protected]; Tel: +43 (0) 7435-44077)
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. The Company has acquired assets in
some of the world's most prolific mining jurisdictions in Brazil's growing lithium areas that are
gaining recognition as a world hot spot for lithium and rare earth mineral exploration.
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.
FOR ADDITIONAL INFORMATION, SEE THE COMPANY'S WEBSITE AT
https://sparkenergyminerals.com
Email to [email protected]
Contact: Eugene Hodgson, CEO, Tel. +1-778-744-0742
Forward-Looking Statement Disclaimer
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
Spark Energy Minerals News – 8-08-2024 |
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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 CE Property and the Tristar 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 bu siness of the Company, the RN
Property, the Acquirors 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 – 8-08-2024 |