Spark Power Group Inc. (SPG.TO), parent company of Spark Power Corp. ("Spark Power" 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 an amendment to its financial arrangement under its credit agreement with its banking partner, the Bank of Montreal ("BMO").
 
The amending agreement contains the following key terms:

• Conversion of Spark Power's acquisition line to a committed facility; and
• Conditional approval for an acquisition (for which the Company's acquisition line will be utilized).

Pursuant to this approval by BMO, the net proceeds from the Company's recently announced Rights Offering will be used to repay a portion of both the term and revolving indebtedness outstanding under the Company's credit facilities with BMO. "We are pleased to have a committed and supportive partner in BMO who understands our business goals and supports our need for financial and operational flexibility," said Dan Ardila , CFO, Spark Power Corp. "This will enable the Company to access the full $35M available under our operating and capital lines, resulting in increased liquidity to support continued organic and acquisition-led growth," added Ardila. 

In addition, Spark Power confirms that it has entered into a non-binding letter of intent with an independently owned company regarding a potential significant acquisition. Spark Power anticipates the potential transaction will be completed by October 31, 2019 . Completion of the potential acquisition is subject to negotiation of definitive agreements acceptable to the parties and satisfaction of all conditions set out in the definitive agreements. Jason Sparaga, Co-CEO of Spark Power said, "I am very excited by the strategic fit of this potential acquisition.  If completed, this will represent Spark Power's 11th acquisition, and will significantly expand our presence in the United States , consistent with the Company's strategic plan."