Sparta Group Announces Further Delay in Annual Financial Statements Filing

Toronto-based Sparta Group (TSXV:SAY) has informed its stakeholders of an additional delay in the submission of its annual financial statements for the fiscal year ending September 30, 2023. The company, which experienced its initial delay announced on February 8, 2024, now aims to complete the filing by April 29, 2024. This delay stems from the unexpected loss of John O'Bireck, a vital officer and former director, leading to a transition in management and operational oversight.

The Alberta Securities Commission has extended a Management Cease Trade Order (MCTO) due to these delays, affecting the trading activities of the company's CEO and CFO. However, regular trading for current and future investors remains unaffected. To comply with the MCTO's conditions, Sparta Group aims to abide by the Alternative Information Guidelines stipulated under National Policy 12-203, ensuring timely and accurate communication of its financial health to shareholders and potential investors.

Despite these setbacks, Sparta's management continues to push forward, focusing on expanding the customer base in its Environment division, particularly in electronic waste recycling. Additionally, efforts are being made towards further developing TruckSuite™ and ARHealth technologies, leveraging advances in AI and AR within the healthcare sector.

The company reassures that there have been no significant undisclosed business developments since its last interim financial report. Sparta Group remains committed to transparency and diligence in resolving their reporting delays and advancing their business objectives.