Sparta Capital Ltd. Releases Annual Financial Results, Including News of Revenue Growth for Second Consecutive Year

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TORONTO, ON / ACCESSWIRE / April 29, 2024 / Sparta Group (TSXV:SAY) (the "Corporation", the "Company", "Sparta Group", "Sparta Capital", "SAY.V" or "Sparta") has announced that it has released its financial results for the year ended September 30, 2023. This is an update to its February 8, 2024, news release ("Default Announcement"), indicating an order from the Alberta Securities Commission ("ASC") for a Management Cease Trade Order (the "MCTO") under National Policy 12-203, Management Cease Trade Orders.

The twelve months ending September 30, 2023, saw growth, increased staffing, and the fostering of a new revenue stream. Revenue for the year ended September 30, 2023, and 2022 respectively, increased by $3,452,556 over the comparative period in 2022, from $5,974,858 to $9,427,414, an increase of 57.78% over 2022. The Company prioritized its environment division, especially its busy upcycling/recycling facility (ERS International), increasing staffing by 30 percent to accommodate renewed, as well as new contracts. Sparta also focused attention on its Innovation division to develop technologies supporting human health, and in Q3 began to further develop its autonomous medicine platform (Doctor-in-a-Box) through Sparta Health. Just prior to fiscal year end, under the innovation division, there was a review and revamping of the original TruckSuite™ product offering. A newer, more comprehensive mobile app that gives truck drivers everything they need while they run their business from the road will soon be available in Canada.

After year end, the Board assembled a new management team to continue building Sparta Group. They were on the job shortly after the unexpected and sudden loss of Mr. John O'Bireck, Company President and co-founder. The Company's new President, Tony Peticca has an impressive background in business leadership and high-tech solutions, including experience in health tech development.

Highlights are as follows:

• Revenue growth of 57.78% compared to fiscal year 2022.
• Carbon Credit Program is officially launched through Sparta's e-waste operation (ERS), creating another revenue stream.
• The TruckSuite™ USA team has a successful soft launch of the Company's mobile app at "Accelerate Conference & Expo" in Dallas and truckers immediately start downloading the application.
• Hut 8 Mining, one of the countries largest digital currency miners becomes a strategic partner in the growth of Sparta's e-waste operation (ERS) carbon credit program.
• Completion of Operational audit and R2v3 Certification of Sparta's Sparta's e-waste operation (ERS).
• Annual carbon credit verification process is started and completed.
• Workforce at Sparta's e-waste operation in Toronto increases by 30 percent.
• Sparta Health is officially established.
• Sparta Group's Environment Division Wins Gold Award from OECM for Exceeding Stringent Quality Performance Criteria.
• The Company appoints respected Internal Medicine Specialist, Craig MD to its Technical Advisory Board to help support innovative health tech development.
• Sparta's Innovation division moves the autonomous medicine platform (Doctor-in-a-Box) forward and confirms that key health data streams for common health problems have been captured using the Doc-in-a-Box technology.
• A review and revamp of Sparta's Innovation division's TruckSuite product offering is performed, leading to a new, comprehensive platform to help truckers operate more efficiently.
• Revamped TruckSuite website goes live, offering customers improved user experience.
• Sparta Health explores an opportunity with a European-based company to add an augmented reality application to the autonomous health platform.

Sparta management report that they are pleased with the strength and stability of the Company's Environment division (ERS), including the unique carbon credit program, and while ERS will continue to be a focus for management, the plan going forward is to also dedicate staff to the upcoming launch of TruckSuite™. Getting the TS app ready for unveiling here in Canada is a key priority. The new management have also assembled a team to move Sparta's autonomous medicine platform (Doc-in-Box) into the next phase of development.

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. This structure provides brand recognition, insight, high-level strategic guidance, and financial monitoring. Sparta Group is divided into three operational business segments, each accountable for its day-to-day operations and performance. Those segments are, Environment, Energy, and Innovation.

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 : [email protected]
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