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Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) has announced a debt settlement agreement to acquire full ownership of its flagship Arapaima Lithium Project in Minas Gerais, Brazil. The company will issue 3,666,667 common shares at $0.15 per share to settle a CAD$550,000 debt with an arms-length creditor.
The Arapaima Lithium Project, covering 64,359 hectares, is now the largest contiguous land package in Brazil’s ‘Lithium Valley’. It is strategically located near major industry players, positioning Spark Energy Minerals at the center of this growing lithium region.
Additionally, Spark Energy Minerals announced that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company (DTC) in the United States, potentially enhancing liquidity and accessibility for investors.
Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) ha annunciato un accordo di risoluzione del debito per acquisire la piena proprietà del suo progetto di punta, il Progetto Litio Arapaima, situato a Minas Gerais, Brasile. L’azienda emetterà 3.666.667 azioni ordinarie a $0,15 per azione per saldare un debito di CAD$550.000 con un creditore indipendente.
Il Progetto Litio Arapaima, che copre 64.359 ettari, è ora il più grande pacchetto di terreni contigui nella ‘Valle del Litio’ del Brasile. È strategicamente posizionato vicino ai principali attori del settore, ponendo Spark Energy Minerals al centro di questa crescente regione lithium.
Inoltre, Spark Energy Minerals ha annunciato che le sue azioni ordinarie sono ora idonee per la compensazione e il regolamento elettronico attraverso il Depository Trust Company (DTC) negli Stati Uniti, potenzialmente migliorando la liquidità e l’accessibilità per gli investitori.
Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) ha anunciado un acuerdo de liquidación de deuda para adquirir la propiedad total de su proyecto insignia, el Proyecto de Litio Arapaima, ubicado en Minas Gerais, Brasil. La compañía emitirá 3,666,667 acciones comunes a $0.15 por acción para liquidar una deuda de CAD$550,000 con un acreedor independiente.
El Proyecto de Litio Arapaima, que abarca 64,359 hectáreas, es ahora el paquete de tierras contiguas más grande en el ‘Valle del Litio’ de Brasil. Está estratégicamente ubicado cerca de los principales actores de la industria, posicionando a Spark Energy Minerals en el centro de esta creciente región de litio.
Además, Spark Energy Minerals anunció que sus acciones comunes ahora son elegibles para liquidación y compensación electrónica a través de la Depository Trust Company (DTC) en los Estados Unidos, lo que podría mejorar la liquidez y la accesibilidad para los inversores.
스파크 에너지 미네랄스 Inc. (CSE: SPRK) (OTC Pink: SPARF)는 브라질 미나스 제라이스에 있는 자사의 주요 프로젝트인 아라파이마 리튬 프로젝트의 완전 소유권을 확보하기 위한 채무 합의 계약을 발표했습니다. 회사는 독립적인 채권자와의 CAD$550,000 채무를 정산하기 위해 주당 $0.15에 3,666,667개의 보통주를 발행할 것입니다.
64,359헥타르를 커버하는 아라파이마 리튬 프로젝트는 이제 브라질 ‘리튬 밸리’에서 가장 큰 인접 토지 패키지입니다. 주요 산업 플레이어들과 가까운 전략적 위치에 있어 스파크 에너지 미네랄스는 이 성장하는 리튬 지역의 중심에 자리 잡고 있습니다.
또한, 스파크 에너지 미네랄스는 자사의 보통주가 이제 미국의 예탁청(DTC)을 통해 전자 청산 및 정산이 가능하다고 발표하여, 투자자들에게 유동성과 접근성을 향상시킬 수 있는 가능성을 열어주었습니다.
Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) a annoncé un accord de règlement de dette pour acquérir la pleine propriété de son projet phare, le Projet Lithium Arapaima, situé à Minas Gerais, au Brésil. La société émettra 3 666 667 actions ordinaires à 0,15 $ par action pour régler une dette de 550 000 CAD envers un créancier indépendant.
Le Projet Lithium Arapaima, couvrant 64 359 hectares, est désormais le plus grand ensemble de terrains contigus de la ‘Vallée du Lithium’ du Brésil. Il est stratégiquement situé près des principaux acteurs de l’industrie, positionnant Spark Energy Minerals au centre de cette région lithium en pleine croissance.
De plus, Spark Energy Minerals a annoncé que ses actions ordinaires sont désormais éligibles pour le règlement et la compensation électroniques par l’intermédiaire de la Depository Trust Company (DTC) aux États-Unis, ce qui pourrait améliorer la liquidité et l’accessibilité pour les investisseurs.
Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) hat eine Schuldentilgung vereinbart, um das volle Eigentum an seinem Flaggschiffprojekt, dem Arapaima Lithium Projekt, im brasilianischen Minas Gerais zu erwerben. Das Unternehmen wird 3.666.667 Stammaktien zu je 0,15 $ ausgeben, um eine Schuld von 550.000 CAD gegenüber einem unabhängigen Gläubiger zu begleichen.
Das Arapaima Lithium Projekt, das eine Fläche von 64.359 Hektar abdeckt, ist nun das größte zusammenhängende Ländereigentum im ‘Lithiumtal’ Brasiliens. Es ist strategisch günstig in der Nähe großer Akteure der Branche gelegen, wodurch Spark Energy Minerals im Zentrum dieser wachsenden Lithium-Region positioniert ist.
Darüber hinaus gab Spark Energy Minerals bekannt, dass seine Stammaktien jetzt für die elektronische Clearing und Abwicklung über die Depository Trust Company (DTC) in den Vereinigten Staaten berechtigt sind, was die Liquidität und Zugänglichkeit für Investoren potenziell verbessert.
Positive
- Acquisition of 100% ownership of the Arapaima Lithium Project
- Largest contiguous landholding (64,359 hectares) in Brazil’s ‘Lithium Valley’
- Strategic location near major lithium industry players
- DTC eligibility potentially enhancing stock liquidity and accessibility
Negative
- Issuance of 3,666,667 new shares, potentially diluting existing shareholders
Vancouver, British Columbia–(Newsfile Corp. – October 9, 2024) – Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) (FSE: 8PC) (“Spark” or the “Company”), an exploration Company focused on the discovery of battery metals in Brazil’s prestigious Lithium Valley, announces that it has entered into a debt settlement agreement with an arms-length creditor (the “Creditor”) to settle CAD$550,000 (the “Debt Settlement”) representing the final outstanding amounts owing to the Creditor for the acquisition of the Company’s now 100% owned flagship “Arapaima Lithium Project” in Minas Gerais, Brazil.
Map of Spark Energy’s flagship Arapaima Lithium Project relative to other major projects in Brazil’s “Lithium Valley”
To view an enhanced version of this graphic, please visit:
https://www.wallstreetpr.com/wp-content/uploads/2024/10/226234_15ff735ae406c92f_002full.jpg
The Arapaima Lithium Project, located in Brazil’s renowned “Lithium Valley” in Minas Gerais covers 64,359 hectares and is the largest contiguous landholding in this high-potential lithium region, offering significant exploration opportunities.
The project is strategically situated near major industry players such as Lithium Ionic, Sigma Lithium, Latin Resources, Si6, and Atlas Lithium, positioning Spark Energy Minerals at the center of this fast-growing “lithium valley.”
In settlement and full satisfaction of the debt in the amount of CAD$550,000, the Company has agreed to issue to the Creditor 3,666,667 common shares in the capital of the Company (the “Common Shares”) at a deemed issue price of $0.15 per Common Share. The proposed shares for debt settlement are subject to the approval of the Canadian Securities Exchange.
“We are grateful for being able to vend the largest contiguous block of mining claims in Lithium Valley to Spark Energy Minerals. We wish to thank the Board of Spark for allowing us the opportunity to convert our final payments into shares of the company. We feel the hard dollars are better spent on further advancing Spark’s enormous property portfolio in this world class district,” said a representative of Talisman.
“This Debt Settlement demonstrates our commitment to strengthening Spark Energy’s financial position while preserving our cash resources for exploration and development activities. By converting this debt into shares, we’re aligning Talisman’s interests with those of our other shareholders and reinforcing our focus on advancing our substantial property portfolio in Brazil’s Lithium Valley. This strategic move allows us to direct more capital towards unlocking the potential of our assets in this world-class mining district, furthering our goal of becoming a key player in the battery metals sector,” stated Eugene Hodgson, CEO and Director of Spark Energy Minerals.
All Common Shares issued pursuant to the Debt Settlement are subject to a statutory hold period of four months plus a day from the date of issuance of the Common Shares in accordance with applicable securities legislation.
Depository Trust Company (“DTC”) Eligibility
In addition, the Company is pleased to announce that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company (“DTC”) in the United States. The Company’s common shares are quoted in the United States on the OTCQB Venture Market under the symbol “SPARF”. The Company’s common shares will continue to trade on the Canadian Securities Exchange under the symbol “SPRK” and the Frankfurt Stock Exchange under the symbol “8PC”.
DTC is a subsidiary of the Depository Trust & Clearing Corporation, a company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered “DTC eligible.” This electronic method of clearing securities speeds up the receipt of stock and cash and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms.
Eugene Hodgson, CEO and Director of Spark Energy Minerals, commented, “With DTC eligibility, shareholders benefit from potentially greater liquidity and execution speeds enhancing the accessibility of our shares for both retail and institutional investors. Properly opening the door to investors in the world’s largest capital market aligns with the Company’s efforts to expand its potential investor base.”
About Spark Energy Minerals Inc.
Spark Energy Minerals, Inc. is a Canadian company focused on the acquisition, exploration, and development of battery metals and mineral assets, with a particular emphasis on its substantial interests in Brazil. The Company holds significant land and mineral rights in Brazil’s renowned Lithium Valley, one of the most prolific mining regions in the world. This region is rapidly gaining global recognition for its vast deposits of lithium and rare earth minerals, positioning Brazil as a critical player in the global energy transition.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR ADDITIONAL INFORMATION, SEE THE COMPANY’S WEBSITE AT
Forward-Looking Statement Disclaimer
Certain statements contained in this release may constitute “forward-looking statements” or “forward-looking information” (collectively “forward-looking information”) as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could,” “intend,” “expect,” “believe,” “will,” “projected,” “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the businesses of the Company and Latam, the respective assets of the Company and Latam, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226234
FAQ
What is the size of Spark Energy Minerals’ Arapaima Lithium Project?
Spark Energy Minerals’ Arapaima Lithium Project covers 64,359 hectares, making it the largest contiguous landholding in Brazil’s ‘Lithium Valley’ region.
How is Spark Energy Minerals (SPARF) settling its debt for the Arapaima Lithium Project?
Spark Energy Minerals is settling a CAD$550,000 debt by issuing 3,666,667 common shares at a deemed price of $0.15 per share to the creditor.
What is the significance of DTC eligibility for Spark Energy Minerals (SPARF)?
DTC eligibility allows Spark Energy Minerals’ shares to be electronically cleared and settled, potentially increasing liquidity and accessibility for both retail and institutional investors in the U.S. market.
Where is Spark Energy Minerals’ (SPARF) Arapaima Lithium Project located?
The Arapaima Lithium Project is located in the ‘Lithium Valley’ region of Minas Gerais, Brazil, strategically positioned near other major lithium industry players.
