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FINWIRES

Sparc Al Raises $1.1 Million After Closing Final Tranche of Brokered LIFE Financing

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Sparc Al Inc (SPAI.CN) completed the second and final tranche of its previously announced brokered private placement for $1.1 million, it said on Monday.

The offering consisted of the issuance of 264,047 units at $4.25 apiece. Each unit consisted of one common share and one share purchase warrant with each warrant entitling the holder to buy a share for $5.25 for a period of 60 months from the closing date.

Proceeds will be used for further development of the Overwatch Platform, customization of the Overwatch Platform for specific geographic markets, product marketing, tradeshows and demonstrations, and working capital and general corporate needs.

Shares of the company closed down 13% to $3.35 on Friday on the Canadian Securities Exchange.

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