Mr. Tony Peticca reports

SPARTA UPDATES DELAY IN FILING ANNUAL FINANCIAL STATEMENTS

Sparta Capital Ltd. is on track to file its annual financial statements in accordance with the new filing deadline of March 29, 2024. This is an update to its Feb. 8, 2024, news release, indicating an order from the Alberta Securities Commission (ASC) for a management cease trade order (MCTO) under National Policy 12-203 (Management Cease Trade Orders).

In the default announcement, Sparta reported that it had received the order for a MCTO from the ASC because the company was unable to file its annual financial statements for the year ended Sept. 30, 2023, including the related management's discussion and analysis (MD&A) and certifications from the chief executive officer and chief financial officer in time to meet the Jan. 29, 2024, filing deadline. The delay in filing the annual flings is largely related to the unexpected and sudden passing of a former director and key officer John O'Bireck and the transition of day-to-day operations to a new management team. Mr. O'Bireck was responsible for all the operations of the issuer, including liaising with the auditor. During this transitionary period, there have been unavoidable delays in responding to information requests from the auditor resulting in a delay in completion of the annual filings. The company expects to file the annual filings on or before March 29, 2024.

While the MCTO restricts all trading in securities of the company by the chief executive officer and chief financial officer of the company until the MCTO is no longer in effect, regular trading by current and future investors continues as normal. The MCTO will be in effect until two full business days following the receipt of the principal regulator that all filings the issuer was required to make have been filed.

While the filings are being finalized, Sparta's new management team is working overtime along with its TruckSuite leadership trio based in the United States to bring a comprehensive mobile app to Canadian truckers this year. While there has already been a soft launch of the app in the U.S., with favourable response in the way of downloads among truckers, the program is undergoing some adjustments to make it easy for Canadian truckers to take advantage of.

Until the annual filings are filed, the company intends to satisfy the provisions of the alternative information guidelines set out in National Policy 12-203 (Management Cease Trade Orders).

The company confirms that, other than what was disclosed in prior press releases, there have been no material business developments since the filing of the company's latest interim financial report.

About Sparta Capital Ltd.

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

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