- Spark Energy Minerals Inc. (SPARF, Financial) increases its private placement offering from 31,250,000 to 32,654,863 units.
- The final tranche of 5,018,751 units is expected to close around May 20, 2025, representing 104.5% of the original offering.
- Proceeds will fund exploration at the Arapaima Lithium Project in Brazil's Lithium Valley and be used for general corporate purposes.
Spark Energy Minerals Inc. (SPARF) has announced an upsize to its previously announced non-brokered private placement. The increase takes the offering from 31,250,000 units to 32,654,863 units. The company expects to close a second and final tranche of 5,018,751 units on or around May 20, 2025, which would constitute 104.5% of the originally planned offering.
The proceeds from this private placement will primarily support the advancement of exploration at Spark Energy's flagship Arapaima Lithium Project, located in Minas Gerais, Brazil's acclaimed Lithium Valley. Additional funds will be allocated for general working capital and other corporate purposes. The company has filed an amended offering document under the Listed Issuer Financing Exemption, now accessible on SEDAR+ and the company's official website.
This strategic increase in the private placement underscores Spark Energy's commitment to expanding its exploration efforts in one of the world's most promising mining regions. The Arapaima Lithium Project encompasses 64,359 hectares in a region renowned for its substantial lithium and rare earth mineral deposits, setting the stage for Brazil's pivotal role in the global energy transition.
