Spark Energy Minerals Inc. (CSE: EMIN) (OTC Pink: MTEHF) (FSE: 8PC) successfully closed the first tranche of financing amounting to CDN $311,875, consisting of 4,158,335 Units, on April 22, 2024.

Financing Tranche Details

Each unit, part of the non-brokered private placement announced on March 6, 2024, includes one common share and one warrant. Warrants, valid for 2 years, are exercisable at $0.12, allowing the purchase of an additional common share. The company reserves the right to expedite the expiry if shares reach $0.20 for 10 consecutive days.

Securities from this tranche are locked till August 23, 2024. Notably, company insiders acquired 666,667 shares, complying with MI 61-101 exemptions regarding valuation and minority shareholder approval.

Use of Proceeds and Company Outlook

Proceeds will support the Tristar Energy Corp. acquisition, fund exploration, marketing, and general working expenses. Spark Energy Minerals, aiming to advance in Brazil’s lithium and rare earth minerals sector, has secured resources in key mining areas.

For further information, contact Peter Wilson, CEO, at +1-778-744-0742.

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