Not for distribution to U.S. Newswire Services or for dissemination in the United States of America. Any failure to
comply with this restriction may constitute a violation of U.S. Securities laws.
CALGARY, AB / ACCESSWIRE / January 29, 2019 / Sparta Capital Ltd. (TSXV: SAY) (the
"Corporation" or "Sparta") announces it has released its financial results for the year ended
September 30, 2018. The Corporation's annual audited financial statements and Management's Discussion & Analysis are available on
SEDAR (www.sedar.com) and on the Sparta's website at www.spartacapital.com.
Private Placement
Sparta is pleased to announce that it has completed the first tranche (the "FirstTranche") of a non-brokered
private placement (the "Offering"). The First Tranche has resulted in gross proceeds to the Corporation of
$55,000.00 pursuant to which Sparta will issue 1,100,000 Units.
Pursuant to the Offering, Sparta will issue up to a total of 5,000,000 units ("Units") of the Corporation at a
price of $0.05 per Unit for gross proceeds of up to $250,000.00. Each Unit will be comprised of one common share ("Common
Share") and one share purchase warrant ("Warrant") of the Corporation. Each Warrant will entitle the
holder thereof to acquire an additional Common Share at a price of $0.11 per Common Share for up to twenty-four (24) months
following closing. The Corporation will use the net proceeds from the Offering for general working capital and general corporate
purposes. The Offering is subject to certain conditions including but not limited to, the receipt of all necessary approvals
including the approval of the TSX Venture Exchange Inc. ("TSXV"). Pursuant to applicable securities laws, all
securities issued pursuant to the Offering will be subject to a four-month hold period from the date of closing.
The Corporation may engage agents in connection with the Offering and in connection therewith will pay a cash commission equal
to 7% of the proceeds of the Offering. Agents will also receive warrants equal to 7% of the number of Units sold under the
Offering. Each warrant will entitle the holder to acquire a Common Share for a price of $0.11 for a period of twenty-four (24)
months following closing. Commission payments and the issuance of warrants remain subject to TSXV approval.
About Sparta
Sparta Capital Ltd. is a company that owns or holds a controlling interest in a network of independent businesses that supply
energy saving technologies designed to reduce energy inefficiencies, achieve reduced emissions and increase operating efficiencies
in various industries. Sparta's network of independent businesses provide a wide range of specialized energy capturing, converting,
optimizing and related services to the commercial sector. Sparta provides capital, technical and engineering expertise, legal
support, financial and accounting knowledge, strategic planning and other shared services to its independent businesses.
Sparta is a publicly-traded company listed on the TSX Venture Exchange under the symbol "SAY". Additional
information is available on our website at www.spartacapital.com or on SEDAR at www.sedar.com.
For further information please contact:
John O'Bireck, President
Email: jobireck@spartacapital.com
Telephone: (905) 751-8004
Cautionary Statements:
This news release contains "forward-looking information" within the meaning of applicable securities laws. When used in this
news 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. 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 news release 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. In particular, this news release contains forward-looking statements relating to,
among other things, statements pertaining to the "Offering" and actual results could differ materially from those currently
anticipated due to a number of factors and risks. These include, but are not limited to, the failure to obtain necessary regulatory
approvals, necessary financing and risks associated with the environmental technologies industry in general. 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 Capital Ltd.
