On December 29, 2023, Sparton Resources Inc. closed the transaction. The company issued 1,500,000 Quebec Flow-Through Share units at an issue price of CAD 0.05 per FTS Unit for proceeds of CAD 75,000 and 3,250,000 Non-Flow Through Share Units at a price of CAD 0.04 for each NFTS Unit for proceeds of CAD 130,000; aggregate gross proceeds of CAD 205,000 in second and final tranche. The company has issued total 11,500,000 Quebec Flow-Through Share units at an issue price of CAD 0.05 per FTS Unit and 3,250,000 Non-Flow Through Share Units at a price of CAD 0.04 for each NFTSU for total gross proceeds of CAD 705,000 in the transaction. 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 has received all necessary regulatory approvals including the TSX Venture Exchange. No finder?s fees have been paid for these placements. The company has raised CAD 705,000 in the transaction.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from eight placees and 1 existing insider for 1,000,000 units. The company has paid finder's fee of CAD 50,000 in cash and issued 500,000 warrants.