U.S. Markets closed

Spark Power Group Inc. Announces Insider Participation in Recently Completed Rights Offering

OAKVILLE, ON , Nov. 6, 2019 /CNW/ - Spark Power Group Inc. (SPG.TO) (SPG.WT), parent company of Spark Power Corp. ("Spark Power", "Spark" or the "Company"), a leading independent provider of end-to-end electrical contracting, operations and maintenance services, and energy sustainability solutions to the industrial, commercial, utility, and renewable asset markets across North America is pleased to announce additional information regarding the participation of insiders of Spark in the rights offering (the "Rights Offering") of the Company that closed on October 31, 2019 .

Pursuant to the basic subscription privilege under the Rights Offering, 4,138,064 common shares of Spark ("Common Shares") were distributed at a price of C$0.96 per Common Share. Of these Common Shares, 3,243,198 were distributed to persons who are insiders of Spark and 894,866 Common Shares were issued to the remaining subscribers under the basic subscription privilege.

Pursuant to the additional subscription privilege under the Rights Offering, 1,549,041 Common Shares were distributed. Of these Common Shares, 691,317 were distributed to persons who are insiders of Spark and 857,724 Common Shares were issued to the remaining subscribers under the additional subscription privilege.

About Spark Power

Spark Power Corp. is the leading independent provider of end-to-end electrical contracting, operations and maintenance services, and energy sustainability solutions to the industrial, commercial, utility, and renewable asset markets in North America . We work to earn the right to be our customers' Trusted Partner in PowerTM. Our highly skilled and dedicated people, knowledge of the power industry, distributed branch model, and commitment to safety ensures we deliver the right solutions that keep our customers' operations up and running today and better equipped for tomorrow. Learn more at www.sparkpowercorp.com.

SOURCE Spark Power Group Inc.


View original content: http://www.newswire.ca/en/releases/archive/November2019/06/c6358.html