Sparton Resources Inc.
TSX VENTURE : SRI

Sparton Resources Inc.

October 06, 2009 16:45 ET

Sparton Resources Inc.: Quam Ventures (BVI) Limited Converts Preference Shares of Sparton Energy Inc. Into Common Shares in the Capital of Sparton Resources Inc.

TORONTO, ONTARIO--(Marketwire - Oct. 6, 2009) -

NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWS WIRE SERVICES

Sparton Resources Inc. (TSX VENTURE:SRI) (the "Company") announced today that Quam Ventures (BVI) Limited ("Quam") has exercised its right of conversion pursuant to the bridge facility agreement entered into between the Company and Quam on September 30, 2008 (the "Agreement") and the amended agreement entered into on October 2, 2008 between the Company, Sparton Energy Inc. ("SEI"), a subsidiary of the Company, Quam, and Sparton Holdings Inc. (the "Amended Agreement"). The Agreement and Amended Agreement entitled Quam to convert 2,648,700 preference shares of SEI into an aggregate of 3,555,555 common shares in the capital of the Company.

This news release and the information contained herein does not constitute an offer of securities for sale in the United States and securities may not be offered or sold in the United States absent registration or exemption from registration.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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