Spartan Metals Closes Private Placement of $2.25M
TSX-V Symbol: W
Head Office: Suite 228 - 1122 Mainland St., Vancouver, B.C. Canada V6B 5L1
Phone: 604-503-0986
Email: [email protected]
Spartan Metals Closes Private Placement of $2.25M
Not for dissemination in the United States or through U.S. newswires
All dollars are Canadian unless otherwise noted
Vancouver, Canada, September 26, 2025 – Spartan Metals Corp. (“Spartan” or the “Company”) (TSX-V: W)
is pleased to announce that in connection with its previously announced non-brokered private placement
(see news release of August 18, 2025) the Company has closed effective September 25, 2025 the private
placement and issued 7,500,000 units of the Company (the “ Units”) at a price of $0.30 per Unit for
aggregate gross proceeds of $2,250,000 (the “Private Placement”).
Each Unit consists of one common share (a “Share”) of the Company and one-half of one non-transferable
share purchase warrant (each a whole warrant a “Warrant”). Each Warrant entitles the holder to purchase
one additional Share of the Company at a price of $0.45 per share until March 25, 2027.
The proceeds from the sale of the Private Placement will be used to further advance the Company’s Eagle
District Project in Nevada (see news release of August 7, 2024) and for general working capital.
All securities issued pursuant to the Financing are subject to a statutory four month and one day hold
period expiring on January 26, 2026.
Insiders of the Company participated in the Financing for an aggregate amount of 893,332 Units. Such
participation is considered a related party transaction under Multilateral Instrument 61-101 – Protection
of Minority Security Holders in Special Transactions (“ MI 61-101”). In completing such transaction, the
Company relied on exemptions from the formal valuation and minority shareholders approval
requirements provided under sections 5.5(a) and 5.7(a) of MI 61 -101 on the basis that the Insiders’
participation in the Offer ing did not exceed 25% of the fair market value of the Company’s market
capitalization.
In connection with the Private Placement and in accordance with the policies of the TSX Venture Exchange
the Company paid aggregate cash finder’s fees totaling $49,809 and issued 166,030 warrants (the “Finder
Warrants”). Each Finder Warrant entitles the holder to purchase one additional Share of the Company at
a price of $0.45 per share until March 25, 2027.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in
the United States. The securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (the “U.S. S ecurities Act”) or any state securities laws and may not
be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities
Act and applicable state securities laws or an exemption from such registration is available.
TSX-V Symbol: W
Head Office: Suite 228 - 1122 Mainland St., Vancouver, B.C. Canada V6B 5L1
Phone: 604-503-0986
Email: [email protected]
About Spartan Metals Corp.
Spartan Metals is focused on developing critical minerals projects in top -tier mining jurisdictions in the
Western United States, with an emphasis on building a portfolio of diverse strategic defense minerals such
as Tungsten, Rubidium, Antimony, Bismuth, and Arsenic.
Spartan’s flagship project is the Eagle District Project in eastern Nevada that consists of the highest-grade
historic tungsten resource in the USA (the past-producing Tungstonia Mine) along with significant under-
defined resources consisting of: high-grade rubidium; antimony; bismuth; indium; as well as precious and
base metals. More information about Spartan Metals can be found at www.SpartanMetals.com
On behalf of the Board of Spartan
“William Pettigrew”
CEO
Further Information:
William Pettigrew
+1 604-313-8585
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press
release
Forward Looking Statements
This news release contains statements that constitute “forward -looking statements.” Such forward looking statements involve
known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or
achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements
expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts
and are generally , but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,”
“projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should”
occur. Forward-Looking Information in this news release, Spartan has applied several material assumptions, including, but not
limited to, the expected use of proceeds : the current objectives concerning the Company’s projects can be achieved and that its
other corporate activities will proceed as expected; that general business and economic conditions will not change in a materially
adverse manner; and that all requisite information will be available in a timely manner.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information
available on the date hereof, by their nature forward -looking statements involve known and unknown risks, uncertainties and
other factors which may cause our actual results, performance or achievements, or other future events, to be materially different
from any future results, performance or achievements expressed or implied by such forward-looking statements. By their nature,
these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause
actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated
with general economic conditions; adverse industry events; future legislative and regulatory developments; the Company’s ability
to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the
ability of the Company to implement its business strategies; competition; the ability of the Company to obtain and re tain all
applicable regulatory and other approvals and other assumptions, risks and uncertainties.
TSX-V Symbol: W
Head Office: Suite 228 - 1122 Mainland St., Vancouver, B.C. Canada V6B 5L1
Phone: 604-503-0986
Email: [email protected]
THE FORWARD -LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE
COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY , IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS
SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD -LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS
INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS
INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.