22:06:19 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Sparton Resources Inc
Symbol SRI
Shares Issued 147,241,537
Close 2022-12-29 C$ 0.06
Market Cap C$ 8,834,492
Recent Sedar Documents

Sparton Resources closes $88K 1st tranche of financing

2022-12-30 09:39 ET - News Release

Mr. Lee Barker reports

SPARTON RESOURCES INC. ANNOUNCES FIRST TRANCHE OF PRIVATE PLACEMENT FINANCING CLOSED

Sparton Resources Inc. has closed, effective Dec. 30, 2022, the first tranche of a $500,000 private placement financing through the sale of 1.1 million flow-through share units to a number of individual accredited investors for total proceeds of $88,000.

Please see Sparton news release dated Dec. 1, 2022.

Each unit consists of one common share of the company priced at eight cents and a one-half share purchase warrant (SPW). Two SPWs will entitle the warrant holder to purchase one additional Sparton common share at a price of 12 cents until Dec. 30, 2024.

The placement was non-brokered and commissions and finder's fees of 7 per cent cash and 7 per cent in SPWs may be payable on a portion of the value of the total financing introduced by the finders. The finders' SPW terms are the same as for the SPWs provided as part of the units to the investors.

Resale of the shares is subject to normal restrictions under TSX Venture Exchange policy and the shares and SPWs may not be traded before April 1, 2023. Approval of the transaction has been received from the TSX Venture Exchange.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.