Spark Energy Minerals Completes Acquisition of Latam Energy
Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) has completed its acquisition of Latam Energy Acquisition Corp. The transaction involved issuing 20 million common shares of Spark at $0.7 per share to Latam shareholders. Through this acquisition, Spark has gained rights to the Joaima and Vertex Projects in Minas Gerais, Brazil, totaling 36,479 hectares of lithium tenements.
The acquired projects are strategically located in Brazil's Lithium Valley, near major lithium players. As part of the transaction, Michael Stier, former CEO of Latam, has joined Spark's board of directors. Mario Drolet has resigned from the board. Eugene Hodgson, CEO of Spark, emphasized that this acquisition expands their footprint in Brazil's Lithium Valley, positioning Spark as a major player in the region.
Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) ha completato l'acquisizione di Latam Energy Acquisition Corp. La transazione ha comportato l'emissione di 20 milioni di azioni ordinarie di Spark a $0,7 per azione ai soci di Latam. Grazie a questa acquisizione, Spark ha ottenuto i diritti sui progetti Joaima e Vertex nel Minas Gerais, Brasile, per un totale di 36.479 ettari di terreni contenenti litio.
I progetti acquisiti sono strategicamente situati nella Lithium Valley del Brasile, vicino a importanti attori del settore litio. Come parte della transazione, Michael Stier, ex CEO di Latam, è entrato a far parte del consiglio di amministrazione di Spark. Mario Drolet ha rassegnato le dimissioni dal consiglio. Eugene Hodgson, CEO di Spark, ha sottolineato che questo acquisto amplia la loro presenza nella Lithium Valley del Brasile, posizionando Spark come un attore di primo piano nella regione.
Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) ha completado la adquisición de Latam Energy Acquisition Corp. La transacción involucró la emisión de 20 millones de acciones comunes de Spark a $0.7 por acción a los accionistas de Latam. A través de esta adquisición, Spark ha obtenido derechos sobre los proyectos Joaima y Vertex en Minas Gerais, Brasil, que totalizan 36,479 hectáreas de terrenos de litio.
Los proyectos adquiridos están estratégicamente ubicados en el Valle del Litio de Brasil, cerca de importantes actores del litio. Como parte de la transacción, Michael Stier, ex CEO de Latam, se ha unido a la junta directiva de Spark. Mario Drolet ha renunciado a la junta. Eugene Hodgson, CEO de Spark, enfatizó que esta adquisición amplía su presencia en el Valle del Litio de Brasil, posicionando a Spark como un jugador importante en la región.
Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF)는 Latam Energy Acquisition Corp.의 인수를 완료했습니다. 이번 거래는 Latam 주주들에게 주당 $0.7에 2천만 주의 일반 주식을 발행하는 것을 포함했습니다. 이번 인수를 통해 Spark는 브라질 미나스제라이스의 Joaima 및 Vertex 프로젝트에 대한 권리를 획득했습니다. 총 36,479 헥타르의 리튬 개발권을 포함합니다.
인수된 프로젝트는 브라질 리튬 밸리 내 주요 리튬 업계 근처에 전략적으로 위치해 있습니다. 거래의 일환으로, Latam의 전 CEO인 Michael Stier가 Spark의 이사회에 합류했습니다. Mario Drolet은 이사회에서 사임했습니다. Spark의 CEO인 Eugene Hodgson은 이번 인수가 브라질 리튬 밸리에서의 발자취를 확장하며 Spark를 해당 지역의 주요 플레이어로 자리잡게 한다고 강조했습니다.
Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) a achevé l'acquisition de Latam Energy Acquisition Corp. La transaction a impliqué l'émission de 20 millions d'actions ordinaires de Spark au prix de 0,7 $ par action aux actionnaires de Latam. Grâce à cette acquisition, Spark a obtenu les droits sur les projets Joaima et Vertex dans le Minas Gerais, au Brésil, totalisant 36 479 hectares de terres contenant du lithium.
Les projets acquis sont stratégiquement situés dans la Lithium Valley du Brésil, près de grands acteurs du lithium. Dans le cadre de la transaction, Michael Stier, ancien PDG de Latam, a rejoint le conseil d'administration de Spark. Mario Drolet a démissionné du conseil. Eugene Hodgson, PDG de Spark, a souligné que cette acquisition étend leur empreinte dans la Lithium Valley du Brésil, positionnant Spark comme un acteur majeur dans la région.
Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) hat die Übernahme von Latam Energy Acquisition Corp. abgeschlossen. Die Transaktion umfasste die Ausgabe von 20 Millionen Stammaktien von Spark zu einem Preis von 0,7 $ pro Aktie an die Aktionäre von Latam. Durch diese Akquisition hat Spark die Rechte an den Joaima- und Vertex-Projekten in Minas Gerais, Brasilien, erworben, was insgesamt 36.479 Hektar Lithiumflächen bedeutet.
Die erworbenen Projekte befinden sich strategisch günstig im Lithium-Tal Brasiliens, in der Nähe wichtiger Akteure der Lithiumbranche. Im Rahmen der Transaktion ist Michael Stier, ehemaliger CEO von Latam, in den Vorstand von Spark eingetreten. Mario Drolet hat seinen Rücktritt vom Vorstand erklärt. Eugene Hodgson, CEO von Spark, betonte, dass diese Akquisition ihre Präsenz im Lithium-Tal Brasiliens vergrößert und Spark als wichtigen Akteur in der Region positioniert.
- Acquisition of 36,479 hectares of lithium tenements in Brazil's Lithium Valley
- Strategic location near major lithium players like Sigma Lithium and Lithium Ionic
- Addition of Michael Stier, former Latam CEO, to Spark's board of directors
- Expanded footprint in a region with significant lithium reserves
- Issuance of 20 million new common shares, potentially diluting existing shareholders
Vancouver, British Columbia--(Newsfile Corp. - September 26, 2024) - Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) (FSE: 8PC) ("Spark" or the "Company") is pleased to announce that it has completed its previously announced acquisition of Latam Energy Acquisition Corp. ("Latam") pursuant to a securities exchange agreement ("SEA") dated September 10, 2024, among Latam, each of the shareholders of Latam (the "Latam Shareholders") and the Company (the "Transaction"). Pursuant to the Transaction, the Company issued to the Latam Shareholders 20 million common shares of the Company at a deemed price of
Additional details regarding the terms of the Transaction can be found in the Company's news release dated September 12, 2024. None of the securities issued as part of the Transaction are subject to a statutory hold period, and no finder's fees were paid in connection with the Transaction.
Through this transaction, Spark Energy Minerals has acquired the rights to the Joaima and Vertex Projects in Minas Gerais, Brazil. The Joaima Project, located near Spark's flagship project, consists of 12 lithium tenements covering 21,165 hectares. The Vertex Project includes 7 lithium tenements and 1 gold tenement, totaling 15,314 hectares. Both projects are strategically located in Brazil's Lithium Valley, close to major lithium players like Sigma Lithium, Lithium Ionic, Pilbara Minerals, and Atlas Lithium. (see map below).
Map of Minas Gerais's Pegmatite Province highlight Latam's tenements in relation to Spark's flagship project and other notable projects in the region
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10093/224764_1be1811a14a69b12_002full.jpg
As seen in the map above, the tenements are located in Brazil's Lithium Valley, which the Government of Minas Gerais identifies as home to the country's largest lithium reserve. Lithium is a key mineral, primarily used in the production of long-lasting batteries for electric vehicles and energy storage. A major player in the region is Sigma Lithium, a multi-billion-dollar mining company with a 77 million-ton lithium resource at
Geologically, the area features rocks like meta-mafic, ultramafic, gneiss, and schist, along with S-type granitoid rocks. These formations are favorable for lithium-cesium-tantalum (LCT) pegmatites and spodumene-rich pegmatites (SRP), as seen in the well-known deposits across the Eastern Brazil Pegmatite Province (EBPP).
As part of the Transaction, Michael Stier, former CEO of Latam, has been appointed to Spark Energy Minerals' board of directors. Mr. Stier commented, "I'm thrilled to announce that the transaction has officially closed! I'm excited to join the board of directors and eager to embark on our exploration programs as we build the future of the company together."
Additionally, Mario Drolet has resigned from the board of directors with immediate effect. The Company thanks Mr. Drolet for his service and support and wishes him well in his future endeavors. In connection with the resignation of Mr. Drolet, the Company has extended the expiry date of his outstanding stock options to the date that is one year from the closing of the Transaction.
Eugene Hodgson, CEO of Spark Energy Minerals, stated, "The successful completion of this acquisition marks a pivotal moment for Spark Energy Minerals. By integrating Latam's assets into our portfolio, we've expanded our footprint in Brazil's Lithium Valley, positioning Spark as a major player in this region. Our newly acquired projects, combined with our existing assets, creates a large land package with promising exploration potential. We're excited to welcome Michael Stier to our board and look forward to leveraging his expertise as we advance our ambitious exploration programs. This strategic move aligns perfectly with our vision to become a key supplier of sustainable lithium to the growing electric vehicle and energy storage markets."
Qualified Person
The scientific and technical information disclosed in this document has been reviewed and approved by Jonathan Victor Hill BSc Hons, FAUSIMM, a Qualified Person consistent with NI 43-101.
About Spark Energy Minerals Inc.
Spark Energy Minerals, Inc. is a Canadian company focused on the acquisition, exploration, and development of battery metals and mineral assets, with a particular emphasis on its substantial interests in Brazil. The Company holds significant land and mineral rights in Brazil's renowned Lithium Valley, one of the most prolific mining regions in the world. This region is rapidly gaining global recognition for its vast deposits of lithium and rare earth minerals, positioning Brazil as a critical player in the global energy transition. 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.
FOR ADDITIONAL INFORMATION, SEE THE COMPANY'S WEBSITE AT
https://sparkenergyminerals.com
Email to info@sparkenergyminerals.com
Contact: Eugene Hodgson, CEO, Tel. +1-778-744-0742
Forward-Looking Statement Disclaimer
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 businesses of the Company and Latam, the respective assets of the Company and Latam, 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224764
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