Sparta Announces Extension of Private Placement

Sparta Group (TSXV:SAY) has announced the extension of its non-brokered private placement, previously set to end on August 31, 2024, to September 25, 2024. The private placement involves up to 50,000,000 units at a price of $0.02 per unit, aiming for total gross proceeds of up to $1,000,000. This extension provides additional time for engagement with interested investors.

Proceeds from this placement will be allocated to audit, legal, and license fees, along with brokerage and product promotion. The funds will not be used to pay non-arm's length parties or for investor relations activities. Conditions for the private placement include final TSX Venture Exchange approval and a four-month hold period on issued securities.

Sparta relies on securities laws exemptions for existing security holders and other prospectus exemptions, capping individual acquisition costs at $15,000 unless investment advice from a registered dealer is obtained.