Spark Energy Minerals Enters into Definitive Agreement to Acquire Additional Brazilian Lithium Assets
Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) has entered into a definitive securities exchange agreement with Latam Energy Acquisition Corp. to acquire all of Latam's issued and outstanding shares. The transaction involves 20,000,000 common shares of Spark at a deemed price of $0.07 per share, totaling $1,400,000 in consideration. Latam holds rights to significant lithium assets in Brazil, mostly adjacent to Spark's current assets in Minas Gerais.
Upon closing, expected by October 15, 2024, Michael Stier, CEO of Latam, will join Spark's board of directors. The acquisition aims to strengthen Spark's position in Brazil's lithium sector and expand its presence in one of the world's most promising lithium regions.
Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) ha stipulato un accordo definitivo di scambio di titoli con Latam Energy Acquisition Corp. per acquisire tutte le azioni emesse e in circolazione di Latam. La transazione prevede 20.000.000 di azioni ordinarie di Spark a un prezzo stabilito di 0,07 $ per azione, per un totale di 1.400.000 $ come corrispettivo. Latam possiede diritti su significativi asset di litio in Brasile, per lo più adiacenti agli attuali asset di Spark in Minas Gerais.
Alla chiusura, prevista entro il 15 ottobre 2024, Michael Stier, CEO di Latam, entrerà a far parte del consiglio di amministrazione di Spark. L'acquisizione mira a rafforzare la posizione di Spark nel settore del litio in Brasile e ad espandere la sua presenza in una delle regioni di litio più promettenti al mondo.
Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) ha firmado un acuerdo definitivo de intercambio de valores con Latam Energy Acquisition Corp. para adquirir todas las acciones emitidas y en circulación de Latam. La transacción involucra 20,000,000 de acciones comunes de Spark a un precio considerado de 0.07 $ por acción, sumando un total de 1,400,000 $ en contraprestación. Latam posee derechos sobre activos significativos de litio en Brasil, en su mayoría adyacentes a los activos actuales de Spark en Minas Gerais.
Una vez cerrado, lo cual se espera para el 15 de octubre de 2024, Michael Stier, CEO de Latam, se unirá a la junta directiva de Spark. La adquisición tiene como objetivo fortalecer la posición de Spark en el sector del litio en Brasil y expandir su presencia en una de las regiones de litio más prometedoras del mundo.
Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF)는 Latam Energy Acquisition Corp.와의 정의로운 증권 교환 계약을 체결하여 Latam이 발행한 모든 주식의 인수를 결정했습니다. 이 거래는 Spark의 20,000,000주 보통주를 주당 0.07달러라는 간주 가격에 총 1,400,000달러로 합의합니다. Latam은 브라질 내에서 Spark의 현재 자산과 인접하여 주로 상당한 리튬 자산에 대한 권리를 보유하고 있습니다.
거래가 완료되면, 2024년 10월 15일까지 예정된 대로, Latam의 CEO인 Michael Stier가 Spark의 이사회에 합류할 것입니다. 이번 인수는 브라질의 리튬 부문에서 Spark의 입지를 강화하고 세계에서 가장 유망한 리튬 지역 중 하나에서의 존재감을 확장하는 것을 목표로 하고 있습니다.
Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) a conclu un accord d'échange de titres définitif avec Latam Energy Acquisition Corp. pour acquérir toutes les actions émises et en circulation de Latam. La transaction implique 20 000 000 d'actions ordinaires de Spark à un prix jugé de 0,07 $ par action, soit un total de 1 400 000 $ en contrepartie. Latam détient des droits sur des actifs significatifs en lithium au Brésil, principalement adjacents aux actifs actuels de Spark à Minas Gerais.
À la clôture, prévue d'ici le 15 octobre 2024, Michael Stier, PDG de Latam, rejoindra le conseil d'administration de Spark. Cette acquisition vise à renforcer la position de Spark dans le secteur du lithium au Brésil et à élargir sa présence dans l'une des régions de lithium les plus prometteuses au monde.
Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) hat einen endgültigen Wertpapier-Austauschvertrag mit der Latam Energy Acquisition Corp. abgeschlossen, um alle ausgegebenen und ausstehenden Aktien von Latam zu erwerben. Die Transaktion umfasst 20.000.000 Stammaktien von Spark zu einem festgelegten Preis von 0,07 $ pro Aktie, was insgesamt 1.400.000 $ ausmacht. Latam hält Rechte an erheblichen Lithium-Vermögenswerten in Brasilien, die größtenteils an die bestehenden Vermögenswerte von Spark in Minas Gerais angrenzen.
Mit dem Abschluss, der bis zum 15. Oktober 2024 erwartet wird, wird Michael Stier, CEO von Latam, dem Vorstand von Spark beitreten. Die Akquisition hat zum Ziel, die Position von Spark im Lithium-Sektor in Brasilien zu stärken und die Präsenz in einer der vielversprechendsten Lithium-Regionen der Welt auszubauen.
- Acquisition of significant lithium assets in Brazil adjacent to existing properties
- Expansion of Spark's presence in a promising lithium region
- Addition of experienced leadership with Michael Stier joining the board
- Potential shareholder dilution with issuance of 20,000,000 new common shares
Vancouver, British Columbia--(Newsfile Corp. - September 12, 2024) - Spark Energy Minerals Inc. (CSE: SPRK) (OTC Pink: SPARF) (FSE: 8PC) ("Spark" or the "Company") is pleased to announce that, further to its news release of August 30, 2024, it has entered into a definitive securities exchange agreement (the "SEA") dated September 10, 2024 with Latam Energy Acquisition Corp. ("Latam") and each of the shareholders of Latam (the "Latam Shareholders"), pursuant to which the Company has agreed to acquire all of the issued and outstanding shares of Latam (the "Latam Shares") from the Latam Shareholders in exchange for 20,000,000 common shares of the Company (the "Consideration Shares") to be issued pro rata at a deemed price of
In connection with the closing of the Transaction (the "Closing"), it is expected that Mario Drolet will resign from the Company's board of directors and Michael Stier, Chief Executive Officer of Latam, will be appointed to fill the vacancy. Mr. Stier commented "I am happy to be announcing this monumental step forward for our company. With the signing of a definitive agreement for the acquisition, we are joining forces with a remarkable partner that holds significant lithium assets in Brazil. Together, I believe we are poised to harness the potential of our combined assets with the goal of driving value and sustainable growth for our stakeholders."
The Closing is expected to occur on or before October 15, 2024, or such other date upon which the Company and Latam mutually agree.
Closing of the Transaction is subject to customary closing conditions, including the approval of the Canadian Securities Exchange, satisfactory due diligence investigations, and no material adverse change happening with respect to either party prior to the closing date.
Eugene Hodgson, CEO of Spark Energy Minerals, stated: "This acquisition marks a significant milestone for Spark Energy Minerals as we continue to expand our presence in Brazil's lithium sector. By joining forces with Latam Energy, we are strengthening our position in one of the world's most promising lithium regions. This strategic move aligns perfectly with our mission to become a key player in the battery metals market and create long-term value for our shareholders."
About Latam Energy Acquisition Corp.
Latam Energy Acquisition Corp., is a Canadian company focused on the exploration and discovery of energy metal minerals in Latin America. Latam has the rights to a portfolio of lithium assets complementary to the Company's portfolio in the well-known lithium district of Minas Gerais in Brazil (See regional map below). These lithium assets are held within Brazil's Lithium Valley initiative and include the Joaima lithium project and the Vertex lithium project.
According to the Government of Minas Gerias, the municipalities included in the Lithium Valley host the largest national lithium reserve, a mineral used in various applications, with the most important being the manufacturing of long-lasting batteries for electric vehicles and energy storage. This area play is anchored by Sigma Lithium, a multi-billion-dollar mining company with a 77Mt resource at
The regional geology is represented by meta-mafic and ultramafic rocks, biotite gneiss and schist. In addition to these rocks, late-oregenic S-type granitoid rocks which accompanied the genesis of the Aracuai orogen are also present which are prospective for both lithium-cesium-tantalum (LCT) bearing pegmatites and spodumene rich pegmatites (SRP) as evidenced by the well known deposits and related occurences of this mineralization style across the Eastern Brasil Pegmatite Province (EBPP).
The Joaima lithium project consists of 12 mineral tenements totaling approximately 21,165 Ha located in the north/northeast region of the state of Minas Gerais, part of the Lithium Valley. It is approximately 670 km from the capital, Belo Horizonte, and access is via paved roads, passing through Teófilo Otoni (highway BR-116) or Curvelo-Araçuaí (highway BR-367) in the Jequitinhonha River basin.
Map of Joaima Lithium Project Tenements
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List of Joaima Lithium Project Tenements
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The Vertex lithium project consists of 8 mineral tenements totaling approximately 8,135 Ha located in close proximity to Sigma Lithium's green production operation as well as other notable projects including Lithium Ionic, Pilbara Minerlas and Atlas Lithium.
Map of Vertex Lithium Project Tenements
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List of Vertex Lithium Project Tenements
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Minas Gerais, Brazil Pegmatite Province Regional Map
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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 pursuing battery metals and mineral assets with substantive interests in Brazil. The Company has acquired significant assets in Brazil's Lithium Valley,one of the world's most prolific mining regions, that is gaining recognition as a world leader in lithium and rare earth mineral discoveries.
Spark Energy Minerals News – 11-09-2024 | 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
Spark Energy Minerals News – 11-09-2024 | 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. 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 Company's properties, Latam's properties, 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/223074
FAQ
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