Spark Energy Minerals Inc. announced a non-brokered private placement to issue units at a price of CAD 0.075 per unit on December 4, 2023. Each unit will consists of one common share and one common share purchase warrant. Each warrant is exercisable at CAD 0.125 and entitles the holder to subscribe for one additional common share for a period of two years from the date of closing.

The company has the option to accelerate the expiry date if the stock trades at CAD 0.25 for a period of 10 trading days. The company will pay finders' fees to qualified finders on closing. The company expects to close the first tranche of CAD 450,000 of the private placement on December 11, 2023.