- Sparton Resources (SRI) has announced a non-brokered private placement for gross proceeds of up to $500,000
- The company will issue up to 6,250,000 flow-through units at a price of $0.08 per FT unit
- The company intends to use the proceeds for exploration works on projects in Ontario and elsewhere in Canada as necessary
- Sparton is an exploration and development stage company
- Sparton Resources Inc. (SRI) opened trading at C$0.065 per share
Sparton Resources (SRI) has announced a non-brokered private placement for gross proceeds of up to $500,000.
The company will issue up to 6,250,000 flow-through units at a price of $0.08 per FT unit.
Each FT unit will consist of one common share to be issued as a “flow-through share” and one-half of one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at $0.12 for 24 months following the issue date.
The company intends to use the proceeds for exploration works on projects in Ontario and elsewhere in Canada, as necessary. Spartan will use the gross proceeds from FT Shares to incur resource exploration expenses.
Red Cloud Securities Inc. will be a finder in connection with the offering.
Sparton is an exploration and development stage company. It focuses on financing exploration for several resource projects and seeking new business for the drilling operation.
Sparton Resources Inc. (SRI) opened trading at C$0.065 per share.
