Spark Energy Minerals Inc. announced a non-brokered private placement of 13,333,333 units at an issue price of CAD 0.075 per unit for gross proceeds of up to 1,000,000 on January 27, 2023. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at CAD 0.15 for a period of two years from the date of closing. Securities issued on this closing are subject to a statutory hold period until May 28, 2023. Qualified finders will receive finder's fees of 7% in cash and 7% in broker warrants, with the broker warrants having the same terms as those above.

On the same date, the company issued 4,500,000 units at a price of CAD 0.75 per units for gross proceeds of 3,375,000 in its first tranche closing.