Sparta Capital Ltd. Updates Non-Brokered Private Placement of Convertible Debentures
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Calgary, Alberta (FSCwire) - Sparta Capital Ltd. (TSXV: SAY.H) (the "Corporation" or "Sparta") is amending the terms of its non-brokered private placement (the "Private Placement") of unsecured convertible debentures ("Debentures"), which was previously announced pursuant to a press release dated March 21, 2017, by decreasing the conversion price into common shares in the capital of Sparta ("Common Shares") from the previously announced $0.65 per Common Share to $0.065 per Common Share for each dollar of the Debentures. The remainder of the terms of the Private Placement remain the same.
Sparta Capital Ltd. fosters and distributes a range of energy efficient solutions. At the end of 2014, the company acquired all of the outstanding shares in Canadian based Newport Environmental Technologies Ltd. Under the Sparta banner, they focused on securing several other licenses for technologies developed to save fuel while reducing carbon emissions in various markets. In 2016, Sparta began work on three new divisions, Sparta Technologies 4 Mining Ltd; to cater to the special needs of the mining industry, Illumineris Inc., which is a company that focuses on helping companies optimize their building energy efficiency, and ReECO Tech Conversion Technologies Ltd., a biomass conversion division. Sparta recently announced that it has entered into a pre-acquisition agreement with SuperNova Performance Technologies Ltd., a privately held Toronto based company that focuses on reducing greenhouse gas emissions related to both spark-fired and compression ignition internal combustion engines. For a closer look at the company profile, please visit the Sparta website (www.spartacapital.com).
For further information please contact:
Tom Brown, President
Telephone: (306) 491-6323
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.
Neither TSX Venture Exchange Inc. (nor any of its separate boards which includes the NEX) nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The common shares that may be issued pursuant to the Debentures will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer; solicitation or sale would be unlawful.
To view this press release as a PDF file, click onto the following link:
Source: Sparta Capital Ltd. (TSX Venture:SAY.H)
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