Sparta Capital Announces Management Transition and Operations Update
Calgary, Alberta (FSCwire) - Sparta Capital Ltd. (TSXV: SAY.H), (the “Corporation” or “Sparta”) announces they are now entering the next chapter in growth with the appointment of Mr. Shawn Leon as an Independent Director and Mr. John O’Bireck assuming the role of President while continuing his role as Director. In concert with these moves, Mr. Tom Brown will be retiring as both President and Director. As part of the transition, Mr. O’Bireck will be stepping down as Chairman of the Audit Committee and Mr. Leon will be assuming that position.
Mr. Leon is a Business Administration Honors graduate of Wilfrid Laurier University. He worked in small systems marketing at IBM Canada for a number of years, has been active in real estate development, and has been the principal owner of various industrial and commercial developments. Mr. Leon has also been involved in the operations of several public companies in both Canada and the United States. He is currently the President, CFO and Director of Ethema Health Corporation (GRST - OTCQB); a U.S. publicly traded Healthcare Corporation based in Toronto, Ontario.
Mr. O’Bireck is a Control Systems Engineering graduate from Ryerson University and has been heavily involved in building both human capital and technology partners for the Corporation, since his appointment as a Director in April 2013. Mr. O’Bireck has vast experience in the production and marketing of technology driven products and services. He helped build a number of companies from inception to point of acquisition, and has brought a wide range of products to market. In recent years, Mr. O’Bireck has been involved with building engineering teams to bring energy efficient solutions to multiple industries.
“It’s exciting to grow into this next stage of development. We have an experienced team in place that is committed to our vision of a more sustainable world through energy optimization and the goal of accelerating growth over the next several months. Adding Shawn and making these adjustments to the management team are important pieces to help strengthen the team that will move us into this next phase,” said Peter Quattrociocchi, Chairman and C.E.O. of Sparta.
Mr. Leon and Mr. O’Bireck’s appointments will take effect immediately. Mr. Brown’s retirement will also take effect immediately yet he has agreed to assume a consulting role with the company – assisting with Investor Relations.
On behalf of all the shareholders, the Board of Directors wishes to thank Mr. Brown for his dedication. His experience and support was valuable in bringing us to a position where we can generate growth in the future.
Operations update – Less than two weeks ago, Sparta announced that its Illumineris division had established a referral system with CWB Maxium Financial (“CWB Maxium”) to offer financing to Illumineris customers. CWB Maxium has already begun processing more than $ 1 million in completed and pending projects for Illumineris. Sparta is pleased with the attention and expedience of the CWB Maxium team. The Illumineris management and staff look forward to an ongoing, productive relationship with the financial partner. For more information, refer to the Sparta press release, issued May 3, 2017.
Sparta Capital Ltd. fosters and distributes a range of energy efficient solutions. Following the acquisition of Canadian based Newport Environmental Technologies Ltd. (“Newport”) Sparta continued the process of securing several other licenses for technologies developed to save fuel, while reducing carbon emissions in various markets. Since the acquisition of Newport, Sparta established three new divisions: Sparta Technologies 4 Mining Ltd; to cater to the special needs of the mining industry, Illumineris Inc., a division with a comprehensive suite of smart-building, energy-optimizing technologies; including a line of glow-in-the-dark safety products, and ReECO Conversion Technologies Ltd; a biomass conversion division. For more information visit www.spartacapital.com
For further information please contact:
John O’Bireck, President
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.
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Source: Sparta Capital Ltd. (TSX Venture:SAY.H)
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