TORONTO, Nov. 11, 2025 (GLOBE NEWSWIRE) -- Sparton Resources Inc. (TSXV-SRI) ("Sparton" or the "Company") is pleased to announce the closing on November 7th, 2025, (the "Issue Date") of the first tranche of the non-brokered private placement (the "Offering") announced on October 30, 2025, for gross proceeds of C$210,000.
Sparton has issued 6,000,000 Quebec Flow-Through Share ("QFTS") Units of the Company (each, a "QFTS Unit") at a price of C$0.035 per QFTS Unit for proceeds of C$210,000. Each QFTS Unit will consist of one common share of the Company one-half a non-flow through Share Purchase Warrant ("SPW") or a total of 3,000,000 full SPWs. Each full SPW will entitle the holder thereof to purchase one common share of the Company (each, a "Warrant Share") at a price of C$0.08 for a period of 12 months following the Issue Date.
Each QFTS 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).
The Company intends to use the proceeds of the offering for the exploration of the Company's Critical Metals projects in Quebec; specifically on the Pense-Montreuil polymetallic metals project east of Englehart, Ontario, and straddling the Ontario-Quebec border, where historical work has identified zinc-copper-nickel mineralization with minor cobalt values, and where little work has been done for over 20 years. ...
