Sparc Al Inc announces non-brokered private placement of 3,397,449 shares for an issue price of CAD 0.11 resulting gross proceeds of CAD 373,719.39 on December 4, 2023. The transaction is expected to close on December 8, 2023. All securities issued pursuant to the private placement will be subject to a hold period of four-months and one day from the date of issuance under applicable securities laws, April 11, 2024.

The private placement was oversubscribed with strong demand from accredited investors. The transaction included participation from directors of the company where Anoosh Manzoori subscribed to 1,000,000 shares, Justin Hanka subscribed to 72,727 shares and Anthony Haberfield subscribed to 409,000 shares.