Sparta Capital Hitting Market with Fuel Savings
Edmonton, Alberta CANADA, May 14, 2013 /FSC/ - Sparta Capital Ltd.,With a strong mission to provide sound green technology solutions, Sparta Capital Ltd. ("Sparta" or the "Corporation') (TSXV: SAY) is looking forward to hitting the market with a number of high margin, fuel savings products in the coming months. During the company's inaugural board of Directors meeting in April, current Director of Silver Mountain Mines, Mr. Charles Burgess was elected Chairman.
"We have the products, we have partners, we have support, and we have growing interest...with the products already being used in some fleets. Now we hit multiple markets as planned," Charles Burgess stated.
As the excitement around Sparta's ability to distribute fuel and emissions savings products grows the board is in place and at work. The new board includes, Tom Brown, Sparta Capital President and CEO, Ray Ludwig, former CFO of Sparta, and John O'Bireck, Chairman of the Audit Committee and former Director and Officer of Hy-Drive Technologies Ltd. Former directors, Carmine Falcone, Ted Rousseau and Bruce Clarke will serve on an advisory committee and as consultants.
"This board brings a great deal of knowledge and expertise that will compliment the company's goals. Their valuable contributions will help us respond effectively to market demand and help us take full advantage of sales and marketing avenues," Sparta Capital President and CEO, Tom Brown said.
With the board in place, the corporation has received approval for a shares for debt settlement and has such issued 75,000 common shares in the capital of the Corporation ("Common Share") at a deemed price of $0.05 per Common Share as previously announced, for payment of an outstanding debt of $21,671 owed to a unsecured creditor of the Corporation. The Common Shares issued have a hold period of four months from the date of issuance in accordance with applicable securities legislation.
The Board also approved the issuance of 1,200,000 options to the new Directors at a price of $.10 and additional 850,000 options to management and a recently engaged consultant at a price of $.10.
Sparta Capital is not only backed by a board of Directors with extensive knowledge and experience, the corporation will receive highly specialized technical support from one of its new partners; Supernova Performance Technologies Ltd.
About Sparta
Sparta is currently in the early commercialization stage of a fuel savings and emission reduction product, the AddecoTech Precision Fuel Additive Injector - Model SS10L (the "Product'). Further information about the Product may be obtained at www.addecotech.com. The corporation web site is also being updated and if you would like to follow the current news from Sparta please go to the web site to register. www.spartacapital.com
For information related to Sparta, please contact:
Tom Brown, President, CEO
Telephone: (855) 539- 1946 Ext 99
tombrown.sk@gmail.com
Reader Advisory
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Corporation's current expectations. When used in this press 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. The forward-looking statements and information in this press release include information relating to the projected use of the proceeds of the Offering by the Corporation. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date of this press release and the Corporation undertakes no obligation to update such forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
To view this press release as a PDF, please click on the following link:
http://www.usetdas.com/pr/sparta05142013.pdf
Source: Sparta Capital Ltd. (TSXV SAY) www.spartacapital.com
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