Sparta Capital’s Illumineris Division engages CWB Maxium Financial for third party financing
Calgary, Alberta (FSCwire) - Today Sparta Capital Ltd. (TSXV: SAY.H), (the “Corporation” or “Sparta”) announced that its Illumineris division has established a referral relationship with CWB Maxium Financial (“CWB Maxium”) to offer financing options for Illumineris’ industrial and commercial customers.
Illumineris is building a reputation for identifying energy inefficiencies in buildings, thereby directing operation managers to high efficiency solutions, and then following through with equipment installations upon request. The Toronto-based company has the ability to analyze possible solutions for payback, return on investment, internal rate of return, and net present value. CWB Maxium is a financing provider for middle market originators and finances energy projects for corporate, commercial and independent customers.
“With energy costs being top of mind, especially in Ontario, it’s exciting to know that we can offer solutions where the energy savings alone can cover the capital costs, making our customers cash-flow positive right out of the gate. CWB Maxium provides flexible terms and amortizations, competitive rates and customized payment schedules. We are pleased to work closely with a company that has a reputation for exceptional service,” said Tom Brown, President of Sparta Capital Ltd.
CWB Maxium has a proven track record in the energy efficiency financing space, as well as many other industries. CWB Maxium finances renewable energy projects, including smart meters, solar energy systems, geothermal systems, LED lighting and biogas generation. A company’s energy loss is often widespread and undetectable, and Illumineris is in a position to help. A financing option can help make energy improvements an affordable process for Illumineris customers.
Sparta Capital Ltd. fosters and distributes a range of energy efficient solutions. Following the acquisition of Canada-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., which caters to the special needs of the mining industry; Illumineris Inc., a division with a comprehensive suite of smart-building and energy-optimizing technologies that include 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
Illumineris Inc. offers comprehensive energy assessments of buildings, provides real-time energy data, and can offer, as well as implement, a wide range of energy optimization technologies. These technologies range from wireless smart metering to VPN-controlled LED’s, which lower its customers’ carbon footprint. An important facet of the Illumineris energy management profile is safety. The company distributes Jessup Manufacturing (McHenry, Illinois) Glo Brite® photoluminescent (PL) safety products, including exit signs and egress pathway marking systems. The Jessup PL products can be found across North America, including in Sobeys grocery stores, the Bank of Canada Building in Ottawa, Brampton RBC, and Toronto Union Station. Jessup and Illumineris’ advancements in Canada and the United States led to the approval of the Glo Brite® “Pictogram”, “Exit” and “Sortie” signs in all North American building and fire codes.
About CWB Maxium Financial
Specializing in mid-market lending since 1993, CWB Maxium Financial is a leader in providing creative financing of up to $50 million to businesses across Canada. CWB Maxium joined Canadian Western Bank Financial Group in March 2016. CWB Maxium is active, present and engaged in the markets it finances, including healthcare, golf, condo and strata, energy and renewable projects, structured finance and program financing. For information visit www.cwbmaxium.com
Sparta Capital Ltd.
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 antonyms to 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, that current conditions and expected future developments and other factors are 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. In particular, this news release contains forward-looking statements relating to, among other things, the ability of Illumineris to obtain financing through CWB Maxium. 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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