Spark Energy Minerals Provides Update on Sharing Agreement

Core Viewpoint - Spark Energy Minerals Inc. is providing an update on its Sharing Agreement with Sorbie Bornholm LP, focusing on its exploration efforts in Brazil's Lithium Valley and the financial implications of the agreement [1]. Financial Summary - On April 25, 2025, the Company completed a non-brokered private placement, issuing 27,636,112 units at a price of $0.072 per unit, resulting in gross proceeds of $1,989,800 [2]. - A portion of the proceeds, amounting to $1,850,000, was raised from SBLP and Sorbie Investments LLP, with notional amounts of $871,992 and $978,008 respectively, held in escrow under the Sharing Agreement [3]. - The Company received an initial release of $160,000 and paid a corporate finance fee of $111,000 through the issuance of 1,541,667 units [4]. - The remaining proceeds of $1,690,000 will be released in 12 monthly settlements, based on a benchmark price of $0.1182 [4]. - The actual cash received in each settlement is determined by the 20 Day VWAP, with potential variations based on market performance [5]. Settlement Payments - The following settlements have been paid to the Company since the initial release: - May 23, 2025: $90,749 - June 24, 2025: $74,706 - July 23, 2025: $66,880 - August 25, 2025: $56,968 - September 23, 2025: $40,142 - October 23, 2025: $44,055 - November 23, 2025: $46,924 - December 23, 2025: $44,968 - January 23, 2026: $40,795 - February 23, 2026: $74,054 - Total: $580,241 - As of now, no units are held in escrow, and two settlement payments remain [6]. 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 [7]. - The Company's flagship Arapaima Project spans approximately 91,900 hectares and targets lithium and gallium-REE mineralization [7]. - The Company is committed to responsible exploration practices and aims to support Brazil's development of a sustainable critical-minerals supply chain [7].