TORONTO, Dec. 12, 2025 (GLOBE NEWSWIRE) -- Sparton Resources Inc. (TSXV-SRI) ("Sparton" or the "Company") is pleased to announce the completion of its non-brokered private placement offering, which was first announced on October 30th, 2025. The second and final tranche closed on December 12th, 2025, bringing the total gross proceeds from both closings to C$410,000. For further details, refer to the Company's previous news releases dated November 11th, 2025, and October 30th, 2025.

As part of the second closing, Sparton issued 5,285,715 National Flow-Through Share ("NFTS") Units at a price of C$0.035 per unit, raising proceeds of C$185,000. Each NFTS Unit consists of one common share and one-half of a non-flow through Share Purchase Warrant ("SPW"), amounting to 2,642,858 full SPWs. A full SPW allows the holder to purchase one common share at C$0.08 within 12 months from the Issue Date.

Each NFTS is classified as a Critical Metals "flow-through share" according to the Income Tax Act (Canada).

Additionally, the Company issued 500,000 non-flow-through share units ("SU") at $0.03 per unit. Each SU includes one common share and one-half warrant. A full warrant grants the holder the right to purchase one common share at $0.05 per share for up to 2 years from the date of issue.

The gross proceeds from the NFTS issuance will be used exclusively for resource exploration expenses that qualify as "Canadian exploration expenses" and "flow through mining expenditures" under the Income Tax Act. These expenditures will be renounced to NFTS purchasers with an effective date no later than December 31st, 2025, in an amount equal to or greater than the gross proceeds raised from the NFTS issue. If the Canada Revenue Agency reduces the Qualifying Expenditures, ...