Sparton Announces Private Placement Offering of up to C$800,000 For its Critical Metals Exploration Programs
2023年12月8日 - 9:30PM
Sparton Resources Inc. (
TSXV-SRI)
(“
Sparton” or the “
Company”) is
pleased to announce non-brokered private placements (the
“
Offering”) for gross proceeds of up to C$800,000.
Up to 13,000,000 Flow-Through Share
(“FTS”) units of the Company (each, a “FTS
Unit”) will be offered at a price of C$0.05 per FTS Unit
for proceeds of up to C$650,000. Each FTS Unit
will consist of one common share of the Company and a ½ (one half)
non-flow through Share Purchase Warrant (“SPW”).
Each full SPW will entitle the holder thereof to
purchase one common share of the Company (each, a “Warrant
Share”) at a price of C$0.08 for a period of 24 months
following the issue date.
The Company will also offer up to 3,750,000
Non-Flow-Through (“NFTS”) share Units at a price
of $0.04 per Non-Flow Through Share unit for proceeds of up to
C$150,000. Each NFTS will consist of one common
share of the Company and a ½ (one-half) SPW. Each
full SPW will entitle the holder thereof to
purchase one common share of the Company (each, a “Warrant
Share”) at a price of C$0.06 for a period of 24 months
following the issue date.
Each FTS will consist of one
common share of the Company to be issued as a Critical Metals
“flow-through share” within the meaning of the Income Tax Act
(Canada).
The Company intends to use the proceeds of the
offering for the exploration of the Company’s Critical Metals
projects in Ontario and Quebec. These include the Pense -Montreuil
polymetallic metals project east of Englehart Ontario and
straddling the Ontario- Quebec border where historic work has
identified zinc-copper-nickel mineralization with minor cobalt
values, and little work has been done for over 20 years. The Oakes
gold and related copper mineralization project near Matachewan
Ontario has over 5 untested drill targets in close proximity to the
former producing Ryan Lake copper and molybdenum mine, and the
current Young Davidson gold producer.
Work will consist of airborne electromagnetic
surveys, follow up ground truthing of anomalies and diamond core
drilling. The Oakes project has a number of untested Induced
Polarization zones outlined by the Company that have never been
tested and some of these are related to rock units similar to those
hosting the nearby copper and molybdenum mineralization.
The gross proceeds from the issuance of the
FTS will be used to incur resource exploration
expenses which will constitute “Canadian exploration expenses” as
defined in subsection 66.1(6) of the Income Tax Act and "flow
through mining expenditures" as defined in subsection 127(9) of the
Income Tax Act (the “Qualifying Expenditures”),
which will be renounced with an effective date no later than
December 31, 2023 to the purchasers of the FTS Units in an
aggregate amount not less than the gross proceeds raised from the
issue of the FT Shares. If the Qualifying Expenditures are reduced
by the Canada Revenue Agency, the Company will indemnify each
subscriber of FTS Units for any additional taxes
payable by such subscriber as a result of the Company’s failure to
renounce the Qualifying Expenditures.
The closing of the Offering is subject to
receipt of all necessary regulatory approvals including the TSX
Venture Exchange. Finder’s fees or commissions will be payable in
accordance with the market and policies of the TSX Venture
Exchange. The FTS, Warrant Shares
and any common shares of the Company that are issuable from any
finder’s warrants will be subject to a hold period ending on the
date that is four months plus one day following the issue date in
accordance with applicable securities laws.
The securities offered have not been, and will
not be, registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act") or any U.S.
state securities laws, and may not be offered or sold in the United
States or to, or for the account or benefit of, United States
persons absent registration or an applicable exemption from the
registration requirements of the U.S. Securities Act and applicable
U.S. state securities laws. This press release does not constitute
an offer to sell or the solicitation of an offer to buy securities
in the United States, nor in any other jurisdiction.
For more information, contact:
A. Lee Barker, M.A.Sc., P.Eng.President & CEOTel./Fax:
647-344-7734 or Mobile: 416-716-5762Email:
info@spartonres.caWebsite: www.spartonres.ca
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements
Information set forth in this news release
involves forward-looking statements under applicable securities
laws. The forward-looking statements contained herein include, but
are not limited to, financings and transactions being pursued, and
all such forward-looking statements are expressly qualified in
their entirety by this cautionary statement. The forward-looking
statements included in this news release are made as of the date
hereof and the Company disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
expressly required by applicable securities legislation. Although
the Company believes that the expectations represented in such
forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct and,
accordingly, undue reliance should not be put on such
forward-looking statements. This news release does not constitute
an offer to sell or solicitation of an offer to buy any of the
securities described herein.
We Seek Safe Harbour
Sparton Resources (TSXV:SRI)
過去 株価チャート
から 11 2024 まで 12 2024
Sparton Resources (TSXV:SRI)
過去 株価チャート
から 12 2023 まで 12 2024