Spark Energy Minerals Announces Receipt of $1.7 Million from Warrant Exercises

Core Viewpoint - Spark Energy Minerals Inc. has successfully raised $1,734,965 through the exercise of 34,699,307 common share purchase warrants as part of its warrant incentive program [1][2]. Financial Summary - The warrants were exercised at a price of $0.05 each, resulting in the issuance of 34,699,307 common shares and an equal number of incentive warrants [2]. - Each incentive warrant allows the holder to purchase one common share at a price of $0.06 per share for one year from the date of issuance [2]. Use of Proceeds - The proceeds from the warrant exercise will be utilized to support ongoing exploration efforts in the Lithium Valley and for general working capital [3]. Company Overview - Spark Energy Minerals Inc. is focused on the exploration and development of critical minerals essential for the clean-energy transition, particularly in Brazil's Lithium Valley [6]. - The company's flagship Arapaima Project covers approximately 91,900 hectares and targets lithium, gallium, and rare-earth element mineralization [6]. - The company is committed to responsible exploration practices and aims to contribute to a sustainable critical minerals supply chain in Brazil [6]. Related Party Transaction - Participation in the incentive program by a company officer is classified as a related party transaction, which is exempt from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101 [5].