Spark Energy Minerals Acquires Nova Energia Property In The "Lithium Valley" Brazil; Expands Land Holdings to 34,000 Hectares
Spark Energy Minerals Inc. has announced a purchase agreement to acquire a 100% ownership interest in the Nova Energia Property from Talisman Venture Partners. This acquisition covers approximately 8,631 hectares in Minas Gerais, Brazil, significantly expanding Spark's land holdings to nearly 34,000 hectares in the Lithium Valley. The agreement involves a payment of $100,000 CDN and the issuance of 10 million units, each consisting of one common share and a warrant to purchase an additional share at $0.15. The transaction is set to be completed within 90 days, subject to due diligence.
- Acquisition increases land holdings to approximately 34,000 hectares, enhancing Spark's position in the Lithium Valley.
- Potential for significant growth and exploration in the newly acquired Nova Energia Property.
- Immediate financial obligation of $100,000 CDN and issuance of 10 million units, possibly impacting shareholder value.
VANCOUVER, BC / ACCESSWIRE / March 9, 2023 / Spark Energy Minerals Inc., ("Spark" or the "Company" (CSE:EMIN)(Frankfurt:M1N)(OTC:MTEHF), has entered into a mineral claims purchase agreement dated March 8, 2023, with Talisman Venture Partners, Ltd. ("Talisman" ), pursuant to which the company will acquire from Talisman a 100 percent ownership interest in 6 (six) exploration permits, known as the "Nova Energia" Property, comprising approximately 8,631 thousand hectares (8.6k ha) of surface area in Minas Gerais, Brazil.
The licenses surround Spark Energy's current 3,500 hectare Property.
Peter Wilson, Chief Executive Officer of Spark stated, "Acquiring this land package adjacent to the 3,500 hectares already held by Spark, are highly prospective properties that offer excellent potential." Wilson went on to say, "This package along with the 22k Hectares recently acquired makes Spark one of the largest land holders in the "Lithium Valley" holding almost 34k hectares.
The transaction
Pursuant to the terms of the agreement and in order to complete the transaction, Spark shall pay to Talisman:
$100,000 CDN on signing of the agreement;- Issue Talisman 10,000,000 units of the Company. Each unit will consist of one common share of the Company and an additional warrant giving the unit holder the right to purchase an additional share of the Company at
$0.15 . The warrant will have a 2 year term attached. - Talisman shall retain a
1% N.S.R. The Company can purchase %0.5 from Talisman at any time for$1,000,000 CDN.
Completion of the transaction is subject to customary closing conditions including the company being satisfied with the results of its due diligence review. The company has 90 calendar days from the date of execution of the agreement to complete.
The transaction is arm's length, and the company is not paying any finders' fees in connection therewith.
About Spark Energy Minerals Inc.
Spark Energy Minerals, Inc., is a Canadian company pursuing battery metals and mineral assets with newly acquired interests in Brazil and Canada. The Company has acquired assets in some of the world's most prolific mining jurisdictions, Brazil's growing lithium and provinces and in the Newfoundland, Canada region which is gaining recognition as a world hot spot for lithium and rare earth mineral exploration.
FOR ADDITIONAL INFORMATION SEE THE COMPANY'S WEB SITE AT
https://sparkenergyminerals.com
Email to info@sparkenergyminerals.com
Contact: Peter Wilson, CEO, Tel. +1-604-649-0945
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further information about the Company is available on www.SEDAR.com under the Company's profile.
Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
SOURCE: Spark Energy Minerals Inc.
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FAQ
What is the Nova Energia Property acquisition by MTEHF?
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