Mr. Tony Peticca reports

SPARTA UPDATES DELAY IN FILING ANNUAL FINANCIAL STATEMENTS

Sparta Capital Ltd. is close to completing its annual financial statements for the year ended Sept. 30, 2023, and will file on or before April 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 (the MCTO) under National Policy 12-203 -- Management Cease Trade Orders.

The company announced in the default announcement that the order for a MCTO from the ASC was required because the company was unable to file its annual financial statements for the year ended September 30, 2023, including the related management's discussion and analysis (MD&A) and certifications from the CEO (chief executive officer) and CFO (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. As per the subsequent announcement on April 9, 2024, Sparta required further extension to allow the auditor to complete a final review before the submitting the annual filings. The ASC granted an MCTO extension for the filing date of the annual filings to on or before April 29, 2024.

The auditor has completed its quality control review and will hold the audit committee board review and communication prior to the filing deadline. Meanwhile, Sparta management and staff are gearing up for an exciting and productive next few months, especially as the company's TruckSuite mobile app inches closer to an official launch.

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securities of the company by the chief executive officer and chief financial officer of the company until the MCTO is no longer in effect, regular trading by current and future investors continues as normal.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.

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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