On January 31, 2022, Spark Power Group Inc. completed a rights offering and a concurrent non-brokered private placement for aggregate gross proceeds of approximately $39.6 million.
Pursuant to the rights offering, Spark Power issued approximately 24.7 million common shares of Spark Power for aggregate gross proceeds of approximately $29.6 million.
Pursuant to the non-brokered private placement, Spark Power issued 8,333,333 common shares at a price of $1.20 per common share for aggregate gross proceeds of approximately $10 million.
Cassels represented Spark Power.