18:21:21 EST Fri 19 Dec 2025
Enter Symbol
or Name
USA
CA



Sparrowhawk Opportunity closes $200,000 financing

2025-12-18 17:52 ET - News Release

Mr. Hillar Lilles reports

SPARROWHAWK OPPORTUNITY CORP. ANNOUNCES CLOSING OF PRIVATE PLACEMENT FINANCING

Sparrowhawk Opportunity Corp. has closed its previously announced non-brokered private placement. Pursuant to the offering, four million common shares at a price of five cents per share were issued, for gross proceeds of $200,000.

Approximately 33 per cent of the net proceeds from the offering will be used to pay outstanding invoices, including listing, legal and accounting fees, and the remaining balance will be used for general working capital purposes as the corporation continues to pursue a qualifying transaction under the rules of the TSX Venture Exchange (TSX-V). All securities issued under the offering are subject to a four-month-and-one-day statutory hold period in accordance with applicable Canadian securities laws. The offering remains subject to final acceptance by the TSX-V.

Early warning requirements

The following portion of this news release is issued pursuant to NI 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, of the Canadian Securities Administrators, which also requires an early warning report to be filed with the applicable securities regulators containing additional information with respect to the foregoing matters. A copy of the early warning report will be filed by Hillar Lilles in accordance with applicable securities laws and will be available on the corporation's issuer profile on SEDAR+.

Prior to the completion of the offering, Mr. Lilles had ownership of or exercised control or direction over 360,000 common shares. Mr. Lilles acquired 220,000 common shares at a price of five cents per common share through his participation in the offering.

After completion of the offering, Mr. Lilles holds 580,000 common shares or 12 per cent of the outstanding common shares, on a non-diluted basis and fully diluted basis.

A finder's fee of $2,100 will be payable to Leede Financial Inc. as a finder in connection with the offering. Certain insiders of the corporation (within the meaning of the rules and policies of the TSX-V) have acquired an aggregate of 320,000 common shares of the corporation in connection with the offering. The insiders' participation in the offering therefore constitutes a "related-party transaction" within the meaning of TSX-V Policy 5.9 and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The corporation is relying on exemptions from the formal valuation and minority security holder approval requirements of the related-party rules set out in sections 5.5(b) and 5.7(b) of MI 61-101. The corporation did not file a material change report more than 21 days before the closing of the offering as the details of the offering and the participation therein by each "related party" of the corporation were not settled until shortly prior to the closing of the offering, and the corporation wished to close the offering on an expedited basis for sound business reasons.

Sparrowhawk, a capital pool corporation within the meaning of the policies of the TSX-V, does not have any operations and has no assets other than cash (which has been depleted to a negative working capital). The most recent negative working capital balance as at Sept. 30, 2025, was negative $62,005. The corporation's business is to identify and evaluate businesses and assets with a view to completing a qualifying transaction under the policies of the TSX-V. The corporation will continue actively looking for a suitable qualifying transaction.

We seek Safe Harbor.

© 2025 Canjex Publishing Ltd. All rights reserved.