SPARC AI Increases Size of Private Placement to $2.4 Million
Vancouver, Canada — March 13, 2026 — Leads & Copy — SPARC AI Inc. has increased the size of its previously announced non-brokered private placement to gross proceeds of up to $2.4 million, according to a press release. The offering was initially set at $2.2 million.
The offering will now consist of up to 1,714,286 units at a price of $1.40 per unit. Each unit includes one common share of the company and one common share purchase warrant. Each warrant allows the holder to purchase one common share of the company at $1.80 at any time on or before the date that is twenty-four months after the offering’s closing date.
If the closing price of the company’s common shares on the Canadian Securities Exchange exceeds $3.00 for ten consecutive trading days, the company may accelerate the expiry date of the warrants.
Anoosh Manzoori, CEO & Director, Matt McCrann, U.S. CEO, and Greg Daly, who leads the company’s Australian business development efforts, will participate in the offering. The company plans to use the net proceeds to advance development of its Overwatch platform, for commercialization activities, and for working capital and general corporate purposes.
The units will be offered for sale pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended by CSA Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, in all provinces of Canada, except Quebec, and other qualifying jurisdictions, including the United States. The units offered under the Listed Issuer Financing Exemption will be immediately “free-trading” under applicable Canadian securities laws.
The company will file an offering document related to the offering that will be accessible under the company’s profile at www.sedarplus.ca and on the company’s website. Prospective investors should read the offering document before making an investment decision. The company may pay finders’ fees to eligible third-parties who have assisted with introducing subscribers to the offering. Closing of the offering remains subject to applicable regulatory approvals.
SPARC AI is a defense technology company focused on solving challenges in modern autonomous systems. Its AI-powered platform transforms low-cost inertial sensors into precision instruments for accurate navigation and targeting when GPS is unavailable.
SPARC AI’s software-only approach aims to make GPS-denied capability for target acquisition and navigation accessible at the price point and scale that modern drone operations demand.
Source: SPARC AI Inc.
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