SPARC AI Announces Private Placement Closing

Executive Summary

• SPARC AI Inc. closed a non‑brokered private placement, issuing 1,572,976 Units at $0.21 per Unit for gross proceeds of $330,325.
• Net proceeds of $311,899 will be used to advance development of the Target Acquisition System, fund product marketing, trade shows, demonstrations, and general corporate purposes.
• The offering included 125,838 finders’ warrants exercisable on the same terms as subscriber warrants (price $0.28 per share, expiry Sept 26 2028, with possible acceleration if CSE price exceeds $1.00 for ten consecutive trading days).

Key Details

• Units Issued: 1,572,976 Units
• Unit Composition: 1 common share + 1 common share purchase warrant per Unit
• Offering Price: $0.21 per Unit (gross)
• Gross Proceeds: $330,325
• Net Proceeds (after finder’s fees): $311,899
• Finder’s Fees Paid: $18,426
• Finders’ Warrants Issued: 125,838 warrants (same terms as subscriber warrants)
• Warrant Exercise Price: $0.28 per common share
• Warrant Expiry: On or before September 26 2028 (subject to acceleration if CSE price > $1.00 for ten consecutive trading days)
• Exemptions Used:
• Listed Issuer Financing Exemption – 1,048,651 Units (no hold period)
• Accredited Investor Exemption – 524,325 Units (hold period until Jan 27 2026)
• Use of Proceeds:
• Development of Target Acquisition System (new features & defense applications)
• Product marketing, trade shows, and demonstrations
• Working capital and general corporate purposes

Notable Quotes

(No executive quotes were included in the release.)