Brief: Sparton resources restructuring of financing agreement for vanadium flow battery manufacturer

Sparton Resources

27/09/2016 16:30

Sept 27 (Reuters) - Sparton Resources Inc  SRI.V : 
    * Restructuring of financing agreement for vanadium flow 
battery manufacturer, special shareholder meeting: November 3, 
2016 
    * Says previously announced transaction to acquire JD 
Holding Inc. has been restructured 
    * Says private investment corporation will directly fund 
acquisition of shares of JDH for US$3.3 million 
    * Private investment corporation to assume full managerial, 
administrative responsibility for JDH and units' battery 
manufacturing, marketing operations 
    * Share acquisition and subscription agreement announced on 
August 12, 2016 has been terminated 
    * Says new share acquisition agreement between a private 
investment corporation and Vanspar Mining Inc, co's unit 
    * Private investment corporation will also pay VMI sum of 
USD$605,000 in addition to VMI retaining its 18% interest in JDH 
    * JDH transaction and funding transaction are expected to be 
closed by mid-November, 2016 
 
Source text for Eikon:  ID:nCCN4TzG9X  
Further company coverage:  SRI.V  
 
 ((Bangalore.newsroom@thomsonreuters.com;))