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TORONTO, ON / ACCESS Newswire / February 26, 2025 / Sparta Group (TSXV:SAY) (the "Corporation", the "Company", "Sparta Group", "Sparta Capital", "SAY.V" or "Sparta"), confirms that the Company is under a Failure to File Cease Trade Order (the "FFCTO") issued by the Alberta Securities Commission ("ASC") because the Company was unable to file its annual financial statements for the year ended September 30, 2024, including the related management's discussion and analysis ("MD&A") and certifications from the CEO and CFO (the "Annual Filings) in time to meet the January 29, 2025, filing deadline.
The FFCTO restricts all trading in securities of the Company and is in effect until the principal regulator receives notice that all filings the issuer was required to make have been filed. The Company expects to file the Annual Filings before Q-2 2025.
Sparta management have indicated that the delay in filing the Annual Filings is related to an overload of primary work for both Sparta and its auditors. The Company is working diligently with its audit team to complete the required work to finalize and file the Annual Filings, which will allow for the lifting of the FFCTO.
Until the Annual Filings are filed, the Company intends to satisfy the provisions of the Alternative Information Guidelines set out in National Policy 12-203 - Cease Trade Orders.
About Sparta
Sparta Group (a.k.a. Sparta Capital Ltd.) is a technology-based company focused on integrating emerging technologies. It operates with a decentralized business model, with each active business functioning as a separate subsidiary. Sparta's business entities fall into three different divisions: Environment: ERS International, is a waste management operation with its state-of-the-art, proprietary e-waste processing technologies. ERS is dedicated to continuous innovation, as well as increased sustainability and security for both the company and its customers. It offers a unique carbon credit program and has attracted significant attention from companies that deal with big data and the need to reduce carbon footprint. ERS has operations in Canada, the Middle East and South America. Health: Sparta Health Corporation is a vertical harnessing the power of Artificial Intelligence (AI), Machine Learning (ML), and Augmented Reality (AR), to develop technologies that enhance personalized patient care and improve treatment outcomes. Transportation: TruckSuite™, is a comprehensive suite of products and services designed to keep trucks operational and drivers competitive. TruckSuite management believes their offerings can play a pivotal role in enhancing the logistics and transportation industry.
Sparta is a publicly traded company listed on the TSX Venture Exchange Inc. under the symbol "SAY" (TSX.V: SAY). Additional information is available at www.spartagroup.ca or on SEDAR at www.sedar.com.
For more information contact:
Tony Peticca, President
Email: tony@spartagroup.ca
Telephone: 416-648-6506
This above may contain "forward-looking information" within the meaning of applicable securities laws. When used in this address, 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 information 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. 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
SOURCE: Sparta Group
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