The TSX Venture Exchange has accepted for filing documentation pertaining to an arm's-length software licence agreement between Sparta Capital Ltd. and an arm's-length party. Pursuant to the agreement, the company will have a non-sublicensable and non-transferable licence for Canada to use the vendor's technology platform and related mobile application known as Biztech, which enables businesses to sell products and deliver services remotely with an enhanced customer experience, for its internal business purposes. The agreement is for an initial term of two years and is subject to automatic renewal for additional successive two-year terms unless terminated earlier.

Under the terms of the agreement, the company will pay the vendor: (i) five million common shares of the company as a one-time licence fee; and (ii) a monthly maintenance and hosting fee of $1,750 commencing Jan. 1, 2024. Further, the agreement allows the company to obtain additional services from the vendor beyond the basic maintenance, based on the vendor's hourly rate for elective services.

For further details, please refer to the company's news release dated Jan. 10, 2024.