Sparton Resources Inc announced a non brokered private placement of up to CAD 800,000 on December 8, 2023. The company will issue 13,000,000 quebec flow-through units a price of CAD 0.05 per unit for gross proceeds of CAD 650,000 and 3,750,000 Non-Flow-Through share Units at a price of CAD 0.04 per Non-Flow Through Share unit for proceeds of up to CAD 150,000. Each Flow-Through Share Unit will consist of one common share of the Company and one half non-flow through Share Purchase Warrant.

Each Non-Flow-Through share Units will consist of one common share of the Company and a one Share Purchase Warrant. Each full Share Purchase Warrant will entitle the holder thereof to purchase one common share of the Company at a price of CAD 0.08 for a period of 24 months following the issue date. Each full SPW will entitle the holder thereof to purchase one common share of at an exercise price of CAD 0.06 per share for the period of 24 months.

The closing of the Offering is subject to receipt of all necessary regulatory approvals including the TSX Venture Exchange. Finder?s fees or commissions will be payable in accordance with the market and policies of the TSX Venture Exchange. The Flow-Through Share, Warrant Shares and any common shares of the Company that are issuable from any finder?s warrants will be subject to a hold period ending on the date that is four months plus one day following the issue date in accordance with applicable securities laws.

Each full Share Purchase Warrant will entitle the holder thereof to purchase one common share of the Company at a price of CAD 0.06 for a period of 24 months following the issue date.