Mr. Tony Peticca reports

SPARTA UPDATES DELAY IN FILING ANNUAL FINANCIAL STATEMENTS

Sparta Capital Ltd. is much closer to filing its annual financial statements. The new filing deadline is March 29, 2024. This is an update to its Feb. 8, 2024, news release (default announcement), 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 an 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 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 filings 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securities of the company by the chief executive officer and chief financial officer of the company until the MCTO is no longer in effect, regular trading by current and future investors continues as normal.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.

Under its new leadership, Sparta has identified three core businesses that it will prioritize going forward. These businesses are TruckSuite operations, ARHealth (which leverages AI (artificial intelligence) and AR (augmented reality) in health care) and ERS (focused on electronic recycling). The TruckSuite leadership team, based in the United States, is launching the company's mobile app version 2.0 at the Mid-American Trucking Show in Louisville, scheduled to run March 21 to March 23, 2024. The development of ARHealth applications for medical professionals is progressing well with the help of an Italy-based technology partner. At the same time, ERS International is expanding its customer base and attracting leading organizations nationwide with its innovative technology, security, data destruction capabilities and carbon credit program.

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 Capital (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.

Sparta is a publicly traded company listed on the TSX Venture Exchange under the symbol SAY.

We seek Safe Harbor.