Mr. Tony Peticca reports

SPARTA UPDATES DELAY IN FILING ANNUAL FINANCIAL STATEMENTS

Sparta Capital Ltd. has experienced a further delay with filing its annual financial statements for the year ended Sept. 30, 2023, but will file on or before April 29, 2024. This is an update to its Feb. 8, 2024, news release, indicating an order from the Alberta Securities Commission for a management cease trade order under National Policy 12-203 (Management Cease Trade Orders).

The company announced in the default announcement that the order for an MCTO from the ASC was required 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 and certifications from the chief executive officer and chief financial officer in time to meet the Jan. 29, 2024, filing deadline. The initial delay in filing the annual filings was primarily 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. A further extension was required to allow the auditor to complete a final review before the annual filings are submitted. The auditor is about to perform its quality control review, which will run concurrently with the audit committee board review and communication. To accommodate the process, the filing date of the annual filings has been extended to on or before April 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securities of the company by the chief executive officer and chief financial officer of the company until the MCTO is no longer in effect, regular trading by current and future investors continues as normal.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.

Sparta Capital management and staff continue to move forward with broadening the customer base in the company's environment division, specifically within the electronic waste recycling operations, as well as working on its TruckSuite operations and ARHealth, which leverages artificial intelligence and augmented reality in health care.

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 (also known as Sparta Capital) 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 Capital is a publicly traded company listed on the TSX Venture Exchange under the symbol SAY.

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