VANCOUVER, BC / ACCESSWIRE / August 15, 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.
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 and provinces and in the Newfoundland, Canada region which 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: 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.
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.
