Spartan Metals Announces Non-Brokered Private Placement
TSX-V Symbol: W
Spartan Metals Announces Non-Brokered Private Placement
Not for disseminaƟon in the United States or through U.S. newswires
All dollars are Canadian unless otherwise noted
Vancouver, Canada, April 2, 2025 – Spartan Metals Corp. (“Spartan” or the “Company”) (TSX-V: W) is
pleased to announce a non-brokered private placement (the “Private Placement”) to raise gross proceeds
of up to $4,400,000 through the sale of up to 8,000,000 units (the “Units”) at the price of $0.55 per Unit.
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 enƟtles the holder to purchase
one addiƟonal Share of the Company at a price of $0.85 per share for a period of 12 months from the date
of issue (the “Expiry Date”) subject to, in the event that the closing price of the Shares of the Company on
the TSX Venture Exchange (the “ Exchange”) or other trading system exceeds $1.10 for more than ten
consecuƟve trading days, the Company will have the right to accelerate the Expiry Date by disseminaƟng
a press release announcing that the Warrants will be void within 14 calendar days if not exercised within
that Ɵme period (the “AcceleraƟon Right”).
Certain insiders of the Company may acquire securi Ɵes under the Private Placement. Any such
parƟcipaƟon would be considered to be a “related party transac Ɵon” as defined under Mul Ɵlateral
Instrument 61-101 (“MI 61-101”). The transacƟon will be exempt from the formal valuaƟon and minority
shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued to
or the consideraƟon paid by such persons will exceed 25% of the Company's market capitalizaƟon.
The Company may pay finders fees of 6% in connecƟon with the Private Placement in cash and warrants
(“Finder Warrant”). Each Finder Warrant will enƟtle the holder to acquire one addi Ɵonal common share
in the capital of the Company at a price of $0.85 for 12 months unƟl the Expiry Date and subject to the
AcceleraƟon Right.
All securiƟes to be issued in the Private Placement will be subject to a four month plus one day hold period
from the closing date under applicable securiƟes laws in Canada.
The proceeds from the sale of the Private Placement will be used to fund the Company’s exploraƟon
projects and for general working capital.
This news release does not cons Ɵtute an offer to sell or solicita Ɵon of an offer to sell any securi Ɵes in
the United States. The securi Ɵes have not been and will not be registered under the United States
SecuriƟes Act of 1933, as amended (the “U.S. Securi Ɵes Act”) or any state securiƟes laws and may not
be offered or sold within the United States or to U.S. Persons unless registered under the U.S. SecuriƟes
Act and applicable state securiƟes laws or an exempƟon from such registraƟon is available.
TSX-V Symbol: W
About Spartan Metals Corp.
Spartan Metals is focused on developing cri Ɵcal minerals projects in well -established and stable mining
jurisdicƟons in the Western United States, with an emphasis on building a por ƞolio of diverse strategic
defense minerals such as Tungsten, Rubidium, AnƟmony, Bismuth, and Arsenic.
Spartan’s high quality project por ƞolio includes an op Ɵon to earn 100% of the Victorio Tungsten -
Molybdenum Project in New Mexico and the Eagle Tungsten-Silver-Rubidium Project in Nevada. Victorio
hosts the largest tungsten resource in the United States and contains significant concentra Ɵons of
beryllium and fluorspar, while the Eagle Project consists of the highest-grade historic tungsten resource in
the United States which includes significant under- defined resources consis Ɵng of: high -grade silver;
rubidium; anƟmony; bismuth; indium; as well as precious and base metals.
More informaƟon about Spartan Metals can be found at www.SpartanMetals.com
On behalf of the Board of Spartan
“BreƩ Marsh”
President, CEO & Director
Further InformaƟon:
BreƩ Marsh, M.Sc., MBA, CPG
President, CEO & Director
1-888-535-0325
Neither the TSX Venture Exchange nor its Regula Ɵon 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 cons Ɵtute “forward-looking statements.” Such forward looking statements involve
known and unknown risks, uncertain Ɵes and other factors that may cause the Company’s actual results, performance or
achievements, or developments in the industry to differ materially from the an Ɵcipated 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, iden Ɵfied by the words “expects,” “plans,” “an Ɵcipates,” “believes,” “intends,” “esƟmates,”
“projects,” “poten Ɵal” and similar expressions, or that events or condi Ɵons “will,” “would,” “may,” “could” or “should”
occur. Forward-Looking InformaƟon in this news release, Spartan has applied several material assump Ɵons, including, but not
limited to, assumpƟons that TSX Venture Exchange approval will be granted in a Ɵmely manner subject only to standard condiƟons;
that all condi Ɵons precedent to compleƟon of the Private Placement will be sa Ɵsfied in a Ɵmely manner: the current objecƟves
concerning the Company’s projects can be achieved and that its other corporate ac ƟviƟes will proceed as expected; that gene ral
business and economic condi Ɵons will not change in a materially adverse manner; and that all requisite informa Ɵon will be
available in a Ɵmely manner.
Although the Company believes the forward-looking informaƟon contained in this news release is reasonable based on informaƟon
available on the date hereof, by their nature forward- looking statements involve known and unknown risks, uncertain Ɵes 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,
TSX-V Symbol: W
these statements involve a variety of assumpƟons, known and unknown risks and uncertainƟes and other factors, which may cause
actual results, levels of acƟvity and achievements to differ materially from those expressed or implied by such statements.
Examples of such assumpƟons, risks and uncertainƟes include, without limitaƟon, assumpƟons, risks and uncertainƟes associated
with general economic condiƟons; adverse industry events; future legislaƟve 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; compe ƟƟon; the ability of the Company to obtain and re tain all
applicable regulatory and other approvals and other assumpƟons, risks and uncertainƟes.
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.