SPARC AI Announces Private Placement

Core Viewpoint - SPARC AI Inc. is conducting a non-brokered private placement to raise up to $300,000 through the sale of 1,428,570 units at a price of $0.21 per unit [1][2] Group 1: Offering Details - Each unit consists of one common share and one common share purchase warrant, with the warrant allowing the purchase of one common share at $0.28 within thirty-six months after the offering's closing date [2] - If the closing price of the common shares exceeds $1.00 for ten consecutive trading days, the company may accelerate the expiry date of the warrants [2] Group 2: Use of Proceeds - The net proceeds from the offering will be allocated to the development of the Target Acquisition System, including new features for defense applications, product marketing, tradeshows, demonstrations, and general corporate purposes [3] Group 3: Regulatory Compliance - The offering will comply with National Instrument 45-106, with 952,380 units available to Canadian residents (excluding Quebec) under the Listed Issuer Financing Exemption, and 476,190 units available to accredited investors in eligible jurisdictions [4] - Securities under the Listed Issuer Financing Exemption will not have a hold period, while those under the Accredited Investor Exemption will be subject to a four-month-and-one-day hold period [4] Group 4: Company Overview - SPARC AI Inc. specializes in high-tech solutions for GPS-denied environments, focusing on enhancing perception and awareness through its innovative Target Acquisition System and Autonomous Flight solution for drones [6]