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TORONTO, Oct. 30, 2025 (GLOBE NEWSWIRE) — Sparton Resources Inc. (TSXV-SRI) (“Sparton” or the “Company”) is pleased to announce non-brokered private placements (the “Offering”) for gross proceeds of up to C$500,000.
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The Offering will be in Units and will consist of a combination of Quebec Flow Through Shares (“QFTS”), Federal Flow Through Share (“FFTS”), (collectively called “FTS”), Non-Flow Through Share (“NFTS”) and Share Purchase Warrants (“FTSPW or SPW”).
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The NFTS unit will be offered at C$0.03. The NFTS
Unit will consist of one (1) common share of the Company and one non-flow through share purchase warrant (SPW). Each SPW will entitle the holder to purchase one common share of the Company at C$0.05 for a period of 24 months following the issue date.
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The FTS unit will be offered at C$0.035. Each FTS unit will consist of one common share of the Company and a ½ (one half) non-flow through Share Purchase Warrant (1/2 FTSPW). Each FTSPW will entitle the holder thereof to purchase one common share of the Company at a price of C$0.08 for a period of 12 months following the issue date.
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Each Flow Through Share will consist of one common share of the Company to be issued as a Critical Metals “flow-through share” within the meaning of the Income Tax Act (Canada)
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The Company intends to use the proceeds of the offering for the exploration of the Company’s Critical Metals projects in Ontario and Quebec. These include the Pense -Montreuil polymetallic metals project east of Englehart, Ontario, and straddling the Ontario- Quebec border. Work will expand the airborne electromagnetic surveys, follow-up ground truthing of anomalies and diamond core drilling.
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The gross proceeds from the issuance of the FTS will be used to incur resource exploration expenses which will constitute “Canadian exploration expenses” as defined in subsection 66.1(6) of the Income Tax Act and “flow through mining expenditures” as defined in subsection 127(9) of the Income Tax Act (the “Qualifying Expenditures”), which will be renounced with an effective date no later than December 31, 2025 to the purchasers of the FTS
units in an aggregate amount not less than the gross proceeds raised from the issue of the FTS units. If the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each subscriber of FTS units for any additional taxes payable by such subscriber as a result of the Company’s failure to renounce the Qualifying Expenditures.
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The closing of the Offering is subject to receipt of all necessary regulatory approvals including those of the TSX Venture Exchange. Finder’s fees or commissions or share purchase warrants will be payable in accordance with market conditions and policies of the TSX Venture Exchange. Any of the common shares of the Company that are issued and those issuable from any finder’s warrants will be subject to a hold period ending on the date that is four months plus one day following the issue date of those shares in accordance with applicable securities laws.
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