Spark Energy Minerals Inc.'s Non-Brokered Private Placement.

Spark Energy Minerals Inc (CSE-CSE:EMIN) recently concluded a non-brokered private placement, raising gross proceeds of $315,500.05 through the issuance of 4,206,668 units at a price of $0.075 per unit. These units include common shares and warrants, with each warrant exercisable at $0.125 and entitling holders to subscribe for additional common shares within a two-year period from the closing date, with the potential for acceleration under certain trading conditions. The company also announced finder's fees paid to a qualified finder. The net proceeds from the offering are slated for general working capital and advancement of the company's Brazilian claims, indicating a strategic focus on the development of mining assets in Brazil alongside its Canadian interests.

The company entered into an agreement with Lithium Plus Mining Corp. concerning the acquisition of a 65% interest in certain mining claims in Brazil. Amendments to the initial agreement were made, resulting in revised payment schedules and exploration work program requirements. Lithium Plus is now obligated to make financial contributions, conduct exploration work, and meet spending thresholds by specified deadlines. These adjusted terms aim to enhance the capital utilization of Lithium Plus, enabling more effective short-term development of the Spark Property, ultimately striving to bolster the property's value and the company's overall interests in the Brazilian mining sector.