16:57:12 EDT Mon 29 Apr 2024
Enter Symbol
or Name
USA
CA



Sparta Capital Ltd
Symbol SAY
Shares Issued 239,153,923
Close 2024-01-30 C$ 0.02
Market Cap C$ 4,783,078
Recent Sedar Documents

Sparta Capital to issue 5 million shares for services

2024-01-31 11:53 ET - News Release

Mr. Tony Peticca reports

SPARTA GROUP ISSUES SHARES FOR CONSULTING SERVICES AS THE COMPANY'S TRUCKSUITE CANADA PREPARES FOR RELEASE OF ROBUST APP

Sparta Capital Ltd. intends to issue shares for services to four consultants of the corporation in exchange for their provision of certain strategic advisory services.

Sparta entered into arm's-length consulting agreements dated Sept. 7, 2023, with certain consultants. The agreements require that each consultant provide a fixed number of advisory service hours (1,000 hours in aggregate for aggregate fees of $100,000) to the corporation and upon completion of the fixed hours, the agreements will terminate. The agreements further provide that consulting fees may be made in whole or in part, by issuing common shares of the corporation in exchange for the advisory services, at a deemed price to be determined pursuant to regulatory requirements.

The consultants have completed the fixed hours and the corporation has made the determination to pay the fees by the issuance of an aggregate of five million common shares at a deemed price of two cents per common share, being the most recent closing price of the common shares, for aggregate fees of $100,000. The common shares will be issued upon receipt of approval from the TSX Venture Exchange.

TruckSuite Canada is a wholly owned subsidiary of Sparta Group, offering a robust, all-in-one mobile application within the Canadian transportation (trucking) sector. The consultants bring vast knowledge to TruckSuite in the areas of digital technology, finance and business development, as well as years of leadership experience related to the trucking industry. The services provided by the consultants will guide the launch of TruckSuite's Canadian operations.

The issuance of the common shares will not result in a change of control, is pursuant to exemptions from prospectus and registration requirements, and is subject to regulatory approval and any applicable hold periods. Following the closing of the shares for services transaction there will be 244,153,923 common shares in the capital of the corporation issued and outstanding.

About Sparta Capital Ltd.

Sparta is a technology-based company focused on integrating emerging technologies. It operates with a decentralized business model, with each active business functioning as separate subsidiary. This structure provides brand recognition, insight, high-level strategic guidance and financial monitoring. Sparta is divided into three operational business segments, each accountable for its day-to-day operations and performance. Those segments are environment, energy and innovation.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.