From GlobeNewswire:

Sparton Resources Inc. has closed the second tranche of a non-brokered private placement for gross proceeds of C$205,000, issuing 1,500,000 Flow-Through Share Units at C$0.05 per unit, as well as 3,250,000 Non-Flow Through Share Units at C$0.04 each. The company plans to use the proceeds for general corporate purposes and the exploration of its Critical Metals projects in Ontario and Quebec, including the Pense-Montreuil and Oakes projects.

The offerings will help Sparton incur resource exploration expenses, which will constitute “Canadian exploration expenses” as defined in the Income Tax Act. The company has also received all necessary regulatory approvals for the offering and will not pay finder’s fees for these placements. The net proceeds raised will be used for exploration of their projects.



Read more: Sparton Announces Revision to Closing of Second Tranche of