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SPARC AI Announces Amended Private Placement
Thenewswire· 2026-03-13 13:00
Core Viewpoint - SPARC AI Inc. has increased the size of its non-brokered private placement offering from gross proceeds of up to $2,200,000 to $2,400,000, aiming to advance its Overwatch platform and other corporate purposes [1][4]. Group 1: Offering Details - The offering will consist of up to 1,714,286 Units priced at $1.40 per Unit, with each Unit comprising one common share and one common share purchase warrant [2]. - Each Warrant allows the holder to purchase one common share at a price of $1.80 within twenty-four months after the closing date of the Offering [2]. - If the closing price of the common shares exceeds $3.00 for ten consecutive trading days, the Company may accelerate the expiry date of the Warrants [3]. Group 2: Use of Proceeds - The net proceeds from the Offering will be allocated to the development of the Overwatch platform, commercialization activities, and general corporate purposes [4]. Group 3: Regulatory and Compliance - The Units will be offered under the Listed Issuer Financing Exemption, making them immediately "free-trading" under applicable Canadian securities laws, except in Quebec [5]. - An offering document will be filed and accessible on the Company's profile and website, and prospective investors are encouraged to review it before making investment decisions [6].
SPARC AI Enables Pixel-Level Geolocation from Any Image
Globenewswire· 2025-12-02 12:36
Core Insights - SPARC AI Inc. has developed a pixel-level target acquisition system as part of its Overwatch platform, enabling users to calculate precise geolocation coordinates from still images [1][2][5] Group 1: Technology and Capabilities - The Image Targeting module allows real-time calculations of distance and geolocation for any pixel in an image, including distant objects, using SPARC AI's reverse geolocation lookup technology [2] - The system can also determine object height from a single image, demonstrated by measuring a building at 13.62 meters from a distance of 318 meters while a drone operated at 60 meters above ground level [3] - This technology enables field personnel to convert standard photographs into spatially referenced data without the need for additional hardware, which is particularly useful in remote or signal-denied environments [4] Group 2: Strategic Goals - The development of this system aligns with the company's objective to allow operators to geolocate and navigate without relying on GPS, lidar, radar, or external sensors [5] - SPARC AI Inc. focuses on creating next-generation, GPS-free target acquisition and intelligence software for drones and edge devices, enhancing situational awareness for defense, rescue, and commercial operators [6]