Sparta Group Announces Delay in Filing Annual Financial Statements

Sparta Group, listed under the symbol "SAY" on the TSX Venture Exchange, has recently communicated a delay in the filing of its financial statements for the fiscal year ending September 30, 2023. The company now anticipates filing these documents by March 29, 2024. This delay follows an earlier notice where Sparta Group revealed it had been granted a Management Cease Trade Order (MCTO) by the Alberta Securities Commission due to its inability to meet the January 29, 2024 filing deadline.

The delay has been largely attributed to the unexpected loss of John O'Bireck, a key officer and director, which has impacted the transition of operations to a new management team. During this transition, the company has faced challenges in providing required information to its auditor, thus delaying the completion of its annual financial statements.

In the meantime, Sparta Group has announced it will focus on three core businesses: TruckSuite™ operations, ARHealth, and electronic recycling through ERS International. These areas are deemed pivotal for the company's future growth and operational focus. Furthermore, the company has committed to fulfilling the Alternative Information Guidelines pending the filing of its annual financial statements.