Spark Energy Minerals Inc. has entered into a mineral claims purchase agreement dated Aug. 10, 2023, with Talisman Venture Partners Ltd., pursuant
to which the company will acquire from Talisman a 100-per-cent ownership interest in nine exploration permits, known as the CE property, comprising approximately 16,245.60 hectares of surface area in Ceara state, Brazil.
Peter Wilson, Chief Executive Officer of Spark stated, “This land package being acquired, along with the approximately 35,000 hectares already held by Spark, are highly prospective properties that offer excellent potential.” Wilson added, “Spark is one of the largest land holders in”Lithium Valley”holding almost 35k hectares and now adding this additional 16k hectares in Ceara State”.
Pursuant to the terms of the agreement and in order to complete the transaction, Spark shall pay to Talisman: $150,000 CDN on closing of the agreement, Issue Talisman 4,500,000 shares of the Company, Talisman shall retain a 1% N.S.R. The Company can purchase 0.5 % from Talisman at any time for $1,000,000 CDN.
Completion of the transaction is subject to customary closing conditions, including, among others, the Company being satisfied with the results of its due diligence review. The Company has 30 calendar days from the date of execution of the agreement to complete.The transaction is arm’s length, and the Company is not paying any finders’fees in connection therewith.
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 areas and in the Newfoundland, Canada region, which is also gaining recognition as a world hot spot for lithium and rare earth mineral exploration.
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