Sparta Capital Ltd. – ReECO Tech™ Operational Update
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Calgary, Alberta (FSCwire) - Sparta Capital Ltd. (TSXV: SAY) (the “Corporation” or “Sparta”) is pleased to report the following operational update for its ReECO™ Tech division.
ReECO Tech™ Conversion Technologies Ltd. (“ReECO Tech™ Conversions”): is once again expanding its service offerings and through the acquisition of heavy equipment, it is working to secure long-term, directional drilling contracts with utility companies; helping the transition of communications networks throughout our communities to fibre-optic cable. The company previously announced its expansion into the environmentally-friendly hydro excavating business from its original focus on biomass conversion. The target contracts include the safe removal of extracted soil waste that can be transformed into new useable products. To support this growth, ReECO Tech™ Conversions has just expanded its heavy equipment fleet by adding two (2) fully automated directional drills in addition to the more than 20 pieces of heavy equipment currently in operation. According to Grand View Research, a U.S based research firm, high-growth in the telecomunications industry, as well as increased awareness of environment friendly trenchless technology is expected to drive the demand for such services throughout North America over the next decade. While the industry is said to have sufferred in recent years due to a lack of skilled operators, ReECO Tech™ Conversions is in the enviable position of being ISO:9001 certified with a team of highly-trained and safety-conscious operators, both on site and in the office, ensuring an exceptional standard of quality.
ReECO Tech™ Electronics Conversions Ltd. (“ReECO Tech™ Electronic Conversions”): an electronics recycling company dedicated to removing electronics from the waste stream, has recently expanded its upcycling operations. ReECO Tech Electronic Conversions is now processing 3,500 – 5,000 refurbished computers, laptops and associated components every month. As technology advancements continue to soar, society is more reliant on computers, tablets, phones, and other electronic devices to conduct business. The opportunity is that organizations are struggling with how to deal with IT lifecycle management. ReECO Tech™ Electronics Conversions offers a proven IT Asset Disposition (ITAD) strategy, with expertise in disposing of IT assets in a safe, environmentally responsible manner, as heavy metals in electronics have the potential to contaminate soil and water when sent to landfill. A recent paper published in the Journal of Environmental Science and Technology states that recovering materials from electronics that have been thrown out, makes more economic sense than mining for new materials.
ReECO Tech™ Property Conversions Ltd. (“ReECO Tech™ Property”): as previously reported ReECO Tech™ Property is a newly formed property development division created to utilize earnings and to implement the technologies from other business units into Smart, net-zero ready, environmentally responsible community developments; designed with concern for our planet in mind. The company will look to announce its future plans as they become available.
About ReECO Tech™:
ReECO™ Tech is the collective term for a group of conversion technology companies that collect waste materials with a focus on converting such waste streams into new usable forms while helping develop environmentally sustainable economies. ReECO™ Tech’s services provide a viable option for helping manufacturers reduce waste, save resources, save money and lower their carbon footprint.
About Sparta:
Sparta Capital Ltd. is a company that owns or holds a controlling interest in a network of independent businesses that supply energy saving technologies designed to reduce energy inefficiencies, achieve reduced emissions and increase operating efficiencies in various industries. Sparta’s network of independent businesses provide a wide range of specialized energy capturing, converting, optimizing and related services to the commercial sector. Sparta provides capital, technical and engineering expertise, legal support, financial and accounting knowledge, strategic planning and other shared services to its independent businesses.
Sparta is a publicly-traded company listed on the TSX Venture Exchange under the symbol “SAY”. Additional information is available on our website at www.spartacapital.com or on SEDAR at www.sedar.com.
For further information please contact:
John O’Bireck, President
Email: jobireck@spartacapital.com
Telephone: (905) 751-8004
Cautionary Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws. When used in this news release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Corporation believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, readers are cautioned to not place undue reliance on forward-looking information because the Corporation can give no assurance that they will prove to be correct. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date of publication of this news release and the Corporation undertakes no obligation to update such forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Furthermore, the Corporation undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Corporation. In particular, this news release contains forward-looking statements relating to, among other things, statements pertaining to anticipated future operations of the Corporation and actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to obtain necessary regulatory approvals, necessary financing and risks associated with the environmental technologies industry in general. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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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Source: Sparta Capital Ltd. (TSX Venture:SAY)
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