Spark Energy Minerals Inc. Announces the Closing of Additional 22 Thousand Hectares of Brazilian "Lithium Valley" Exploration Properties; Increases Portfolio by 700%

Rhea-AI Summary

Spark Energy Minerals Inc. (CSE:EMIN, Frankfurt:M1N, OTC PINK:MTEHF) has successfully completed a mineral claims purchase agreement with Talisman Venture Partners, acquiring a 100% ownership in 12 exploration permits covering approximately 22,000 hectares in Minas Gerais, Brazil. The total payment comprised $300,000 and 10 million common shares valued at $0.08 per share, with statutory trading restrictions until June 24, 2023. Talisman retains a 1% N.S.R, and Spark can purchase an additional 0.5% for $1 million. The acquisition enhances Spark's portfolio in Brazil, recognized for its lithium potential.

Positive

• Acquired 100% ownership of 12 exploration permits in Brazil, expanding portfolio.
• Increased land assets by 22,000 hectares, positioning in a key mining jurisdiction.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / March 3, 2023 / Spark Energy Minerals Inc., ("Spark" or the "Company" (CSE:EMIN)(Frankfurt:M1N)(OTC PINK:MTEHF) is pleased to announce that it has closed on a mineral claims purchase agreement dated February 1 , 2023, with Talisman Venture Partners, Ltd. ("Talisman") of Victoria B.C., pursuant to which it acquired a 100 percent ownership interest in 12 (twelve) exploration permits comprising approximately 22 thousand hectares (22k ha) of surface area in Minas Gerais, Brazil.

Talisman retained a 1% N.S.R. The Company can purchase %0.5 from Talisman at any time for $1,000,000.

The Company paid a total of $300,000 and 10 million common shares at a deemed price of $0.08 per share. Shares issued pursuant to this transaction are subject to statutory trading restrictions until June 24, 2023.

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

Spark Energy Minerals' Minas Gerais Property Map

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 Power Group Inc.

View source version on accesswire.com:
https://www.accesswire.com/741901/Spark-Energy-Minerals-Inc-Announces-the-Closing-of-Additional-22-Thousand-Hectares-of-Brazilian-Lithium-Valley-Exploration-Properties-Increases-Portfolio-by-700

FAQ

What recent acquisition did Spark Energy Minerals (MTEHF) make?

Spark Energy Minerals announced the acquisition of a 100% ownership interest in 12 exploration permits totaling approximately 22,000 hectares in Minas Gerais, Brazil.

How much did Spark Energy Minerals pay for the exploration permits?

The total payment for the exploration permits was $300,000 and 10 million common shares at a deemed price of $0.08 per share.

What is the significance of the 1% N.S.R retained by Talisman?

Talisman retained a 1% Net Smelter Return (N.S.R), allowing them to benefit from potential future production from the acquired permits.

When are the shares from the acquisition of Spark Energy Minerals (MTEHF) tradable?

Shares issued in the transaction are subject to statutory trading restrictions until June 24, 2023.