The way I see it, and agreeing with what has already been posted, is... If the person or persons did not personally opt in to receiving email from you, then it is 100% spam.
So, if Joe Slot Player signs up to my newsletter, and I sell, lend or give you his email and you send him mail, it is spam. The way I see it is, if the person did not sign up to receive mail from you, then you have no legal right to mail him/her.
There is already too much spam floating around, please do not add to the problem.
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"People who are unable to motivate themselves must be content with mediocrity." ~Andrew Carnegie~