VANCOUVER, BC / May 27, 2024 / Spark Energy Minerals Inc., (“Spark” or the “Company” (CSE: EMIN) (OTC: MTEHF) (Frankfurt: 8PC) is pleased to announce that, subject to the policies of the Canadian Securities Exchange (the “CSE”), it intends to complete a private placement of up to $500,000 by offering up to 6,666,667 units of the Company (each a “Unit”) at a price of $0.075 per unit (the “Private Placement”).
Each Unit will consist of one common share in the capital of the Company (each, a “Share”) and one warrant to purchase an additional common share (each, a “Warrant Share”, and collectively with the Units and the Shares, the “Securities”) at a price of $0.12 per Warrant Share for a period of two years from the date of issue. The Securities will be subject to a hold period of four months and one day from the date of closing of the Private Placement. 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.
The Company intends to use the proceeds from the Private Placement to finance the Tristar Energy Corp. option acquisition payment, to perform exploration work on its properties, marketing and investor relations, and general working capital. The Company may pay finder’s fees in connection with the closing of the Private Placement in accordance with the policies of the CSE and applicable securities laws.
The Company is also pleased to announce the appointment of Sheryl Dhillon as corporate secretary to the Company. Ms. Dhillon is an experienced corporate secretary with over fifteen years of experience. She has extensive knowledge of corporate governance, as well as strong management skills and excellent corporate communications. Ms. Dhillon acts as corporate secretary for several public companies listed on the CSE, TSX Venture Exchange and Cboe Canada Exchange.
The Company also announces that, further to its news release of May 22, 2024, it has amended the aggregate number of stock options (the “Options”) granted to certain officers, directors and consultants to the Company from 3,000,000 to 2,440,607. All other terms of the Options remain the same.
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 is 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 info@sparkenergyminerals.com
Contact: Eugene Hodgson, CEO, Tel. +1-778-774-0742
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.
Further information about the Company is available on www.SEDAR.com under the Company’s profile.
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.
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.778
