SPARK ENERGY MINERALS INC. Announces Repricing of Certain Warrants

Rhea-AI Summary

Spark Energy Metals Inc. (CSE:EMIN)(Frankfurt:M1N)(OTC:MTEHF) announced the repricing of 3,050,000 Warrants issued on November 21, 2021, from $0.20 to $0.105. Holders can purchase one share at this new price. An acceleration clause will terminate the Warrants after 30 days notice if shares trade at $0.135 for 10 consecutive days. Additionally, 5 million stock options have been granted to directors and consultants at an exercise price of $0.10, with immediate vesting and a five-year term.

Positive

• Warrants repriced from $0.20 to $0.105, making them more attractive to investors.
• Acceleration clause incentivizes share price growth, benefiting shareholders.
• Issuance of 5 million options at $0.10 enhances director and consultant alignment with company success.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / January 12, 2023 / Spark Energy Metals Inc., formerly St. Anthony Gold Corp. ("Spark" or the "Company") (CSE:EMIN)(Frankfurt:M1N)(OTC:MTEHF) is pleased to announce that a total of 3,050,000 Warrants issued on November 21, 2021 are being repriced to $0.105. The Warrants were originally issued with an exercise price of $0.20.

Each whole Warrant will now entitle the holder to purchase one common share of the Company at an exercise price of $0.105. The Warrants will also contain an acceleration clause, in that if the shares trade at or more than $0.135 for a 10 day period, the expiry date shall terminate upon 30 days notice.

The Company also announced that it has issued 5 million options pursuant to its stock option incentive plan to directors and consultants at an exercise price of $0.10. The options have a 5 year term and vest immediately.

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

www.sparkenergyminerals.com
Email to info@sparkenergyminerals.com
Contact: Peter Wilson CEO - 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.

View source version on accesswire.com:
https://www.accesswire.com/735045/SPARK-ENERGY-MINERALS-INC-Announces-Repricing-of-Certain-Warrants

FAQ

What is the new exercise price for the Warrants of Spark Energy Metals Inc. (MTEHF)?

The new exercise price for the Warrants is $0.105, reduced from the previous price of $0.20.

What happens to the Warrants if Spark Energy Metals Inc. shares reach $0.135?

If the shares trade at or above $0.135 for 10 consecutive days, the Warrants will terminate after 30 days' notice.

How many stock options were issued by Spark Energy Metals Inc. (MTEHF)?

Spark Energy Metals Inc. issued 5 million stock options to directors and consultants.

What is the exercise price for the stock options issued by Spark Energy Metals Inc.?

The exercise price for the stock options is set at $0.10.

What is the term for the stock options issued by Spark Energy Metals Inc.?

The stock options have a term of five years and vest immediately.