Sparta Capital Ltd. Announces Upcoming Private Placement

TORONTO, ON - Sparta Group, also known as Sparta Capital (TSXV:SAY), declared its plans to proceed with a non-brokered private placement, aiming to raise up to $1,000,000, given regulatory approvals. The private placement includes 50,000,000 units at $0.02 each. Every unit comprises a common share and a purchase warrant, allowing the holder to buy additional shares at $0.10 each for 18 months after the close of the offering.

The proceeds from the offering will primarily support the launch of TruckSuite™ Canada alongside covering various corporate needs such as audit, legal, and marketing expenses. Each warrant is subject to an acceleration clause, which the company can activate if the share price exceeds $0.12 for ten consecutive days.

The offering includes provisions for current shareholders, with a subscription cap of $15,000 unless financial advice is provided by a registered dealer. The placement is also open to shareholders as of November 25, 2022, subject to local regulatory requirements.