Spark Energy Minerals Announces Warrant Repricing and Exercise Incentive Program

Executive Summary

• Spark Energy Minerals announced a warrant incentive program that reduces the exercise price of up to 63,650,965 outstanding common share purchase warrants to $0.05 per warrant for a one‑month “Incentive Exercise Period” (Jan 22 – Feb 22 2026).
• Holders who exercise during this period will receive one additional incentive warrant per exercised warrant, each granting the right to purchase one share at $0.06 for one year from issuance.
• Proceeds from any exercised warrants are intended for general working capital and advancing exploration activities, subject to regulatory approvals and a statutory hold period on newly issued shares.

Key Details

• Warrants Affected: 11 issuances ranging from Oct 20 2023 to Dec 11 2025, totaling 63,650,965 warrants.
• Original Exercise Prices: $0.075, $0.125, $0.14, $0.30, $0.06 (and one previously re‑priced from $0.15 to $0.075).
• New Exercise Price (Incentive Period): $0.05 per warrant for all listed issuances.
• Incentive Warrant Terms: One incentive warrant issued per exercised warrant; each incentive warrant allows purchase of one common share at $0.06, exercisable for 1 year from issuance.
• Incentive Exercise Period: Begins 9:00 a.m. Vancouver time on Jan 22 2026 and ends 5:00 p.m. Vancouver time on Feb 22 2026.
• Eligibility Conditions: Holders of the listed warrants must exercise before their original expiry dates (e.g., Jan 31 2024 warrants must be exercised by Jan 31 2026).
• Exercise Procedure: Completed warrant exercise forms and payment (wire, certified cheque, etc.) to be emailed to [email protected]; contact Sheryl Dhillon, Corporate Secretary, for assistance.
• Use of Proceeds: General working capital and advancement of exploration activities.
• Regulatory Requirements: Program subject to receipt of all necessary approvals, including CSE approval.
• Statutory Hold Period: Shares issued from incentive warrants will be subject to a four‑month‑plus‑one‑day hold period from the date of issuance.
• Post‑Program Terms: Warrants not exercised during the Incentive Exercise Period remain exercisable under pre‑program terms; no further incentive warrants will be granted thereafter.

Notable Quotes

• “Spark anticipates using the proceeds from the exercise of any Warrants for general working capital and advancing exploration activities.” – Dr. Fernando Tallarico, Chief Executive Officer

This release excludes boilerplate company description, forward‑looking disclaimer, and contact information per instructions.