Sparta Group Reports Q3 2022 Results

TORONTO, ON / ACCESSWIRE / August 30, 2022 / Sparta Group (TSXV:SAY) (the "Corporation" the "Company", "Sparta Group", "Sparta Capital", "SAY.V" or "Sparta") has just released its financial results for the three-month and nine-month periods ended June 30, 2022.

Despite the fact that summer is traditionally slower in the business-to-business world, Sparta's third quarter included a series of notable developments; especially in Sparta's Environmental division ("ERS-International"). This included commencement of work related to one of the largest and most powerful automotive corporations in Canada, an exclusive program to help customers meet their sustainability goals and account for unavoidable emissions, the incorporation of AI technology into some of the company's technologies, and the beginning of a research project with University of Ottawa ("uOttawa") to find safe and efficient methods to upcycle lithium from lithium-ion batteries.

"The project with uOttawa is timely considering the shortage of lithium that has been in the headlines lately, but long before news of insufficient lithium began to spread, Sparta was searching for an opportunity to study safe ways to upcycle lithium-ion batteries. We found a great collaborator in uOttawa and are expanding use of our R & D lab during the research project," said Sparta President, John O'Bireck

Also during Q3, Sparta's Innovation division continued to offer its health technologies to those grappling with COVID-19. For example, Concordia University in Montreal followed up their initial orders with Sparta Health for additional CASPR units to help reduce risk of transmission of COVID-19 on their campus.

As we move into the next quarter, Sparta's e-waste upcycling/recycling operation in Toronto is expected to be very busy. More companies are recognizing the value in upcycling electronics as they contain a lot of the precious metals that are hard to obtain due to a metal's shortage. Market analysts expect a sharp rise in the cost of newly mined metals in the months and years to come; however, using metals recovered from e-waste is not only a wise practice for helping our environment, it can prove to be a cost-efficient alternative as well.At the same time, more businesses are adopting strict sustainability and data destruction policies. Sparta's e-waste facility is known for its safe data destruction process.

The Corporation's Q3 financial statements and Management's Discussion & Analysis ("MD&A") are available on SEDAR (www.sedar.com).

About Sparta
Sparta Group (a.k.a. Sparta Capital Ltd.) is a technology-based company that owns or holds a controlling interest in a network of independent businesses that supply energy saving technologies designed to reduce energy inefficiencies, achieve reduced emissions, and increase operating efficiencies in various industries. In response to the COVID-19 crisis, Sparta has also expanded its scope to help facilitate supply of necessary materials while assisting talented inventors who are looking to introduce innovative technical solutions that will bring greater normalcy to the post COVID-19 world. Sparta's network of independent businesses provides a wide range of specialized energy capturing, converting, optimizing, and related services to the commercial sector. Sparta provides capital, technical and engineering expertise, legal support, financial and accounting knowledge, strategic planning, and other shared services to its independent businesses.

Sparta is a publicly traded company listed on the TSX Venture Exchange Inc. under the symbol "SAY" (TSXV: SAY). Additional information is available at www.spartagroup.ca or on SEDAR at www.sedar.com.

For more information contact:
John O'Bireck, President
Email: jobireck@spartagroup.ca
Telephone: (905) 751-8004

This news release contains "forward-looking information" within the meaning of applicable securities laws. When used in this news release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Corporation believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, readers are cautioned to not place undue reliance on forward-looking information because the Corporation can give no assurance that they will prove to be correct. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date of publication of this news release and the Corporation undertakes no obligation to update such forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Furthermore, the Corporation undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Corporation. These include, but are not limited to, the failure to obtain necessary regulatory approvals, necessary financing and risks associated with the environmental technologies industry in general. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Sparta Group