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TORONTO, ON / ACCESSWIRE / January 10, 2024 / Today, Sparta Capital Ltd. (TSXV:SAY) (the "Corporation" the "Company", "Sparta Group", "Sparta Capital", "SAY.V" or "Sparta") announced it has a software license agreement ("the Agreement") with U.S based TruckSuite™ LLC ("TruckSuite") that will allow Sparta to provide the new, comprehensive TruckSuite™ Mobile App in Canada; customizing it to address the specific needs of Canadian truckers.
The Canadian trucking industry employs over 300,000 truckers and the majority have already experienced how modern technology can change their workday for the better. For instance, industry insiders report that about 90 percent of truck drivers use smartphones for work purposes, including navigation. Sparta management believes the agreement with TruckSuite™ will allow them to show truckers that their best days on the road could lie ahead with the comprehensive TruckSuite™ Mobile App.
Under the Agreement, Sparta will be the exclusive marketer and seller of TruckSuite™ products in Canada and will have the right to use the TruckSuite™ name in Canada. In addition, Sparta will have a non-sublicensable and non-transferable license for Canada to use the TruckSuite™ technology platform and related mobile application known as Biztech (the "Software"). Biztech allows businesses to sell products and deliver services remotely with an enhanced customer experience. The initial term of the Agreement is for 2 years and is subject to automatic renewal for an additional successive two (2) years term unless terminated earlier. The Agreement stipulates that Sparta Group will issue to the Vendor: (i) 5,000,000 common shares as a one-time License Fee; and (ii) a monthly fee of $1,750 for basic maintenance and hosting fees beginning January 1, 2024. The Agreement also allows Sparta to obtain additional services from TruckSuite™ beyond the basic maintenance, based on TruckSuite's hourly rate for elective services.
In November 2023, TruckSuite™ LLC introduced its mobile app to women in trucking at the Accelerate Conference and Expo in Dallas. Since then, the TruckSuite™ mobile app has been downloaded hundreds of times. Data from this soft launch will guide the hard launch of the app in the U.S and will provide valuable insight for the launch of Sparta's tailored, Canadian version of the mobile app, expected to be available later this year. Every day U.S truckers are downloading the TruckSuite™ Mobile App through Apple Store, as well as Google Play.
About TruckSuite™
With corporate headquarters in North Carolina, TruckSuite™ LLC is a "technology based" comprehensive Owner Operator Support program that is designed to offer the owner operator all truck ownership benefits typically only available to large fleets. All TruckSuite's products and services are included in one convenient App.
About Sparta
Sparta Group (a.k.a. Sparta Capital Ltd.) 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 Inc. under the symbol "SAY" (TSX.V:SAY). Additional information is available at www.spartagroup.ca or on SEDAR at www.sedar.com.
For more information contact:
Tony Peticca, President Sparta Group
Email : tony@spartagroup.ca
Telephone : (416) 648-6506
This release may contain "forward-looking information" within the meaning of applicable securities laws. When used in this address, 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 information 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. 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
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