Sparta Announces Extension of Non-brokered Private Placement of Convertible Debentures - Seite 2

The Debentures, Common Shares and Warrants issued upon conversion thereof will be subject to a four month and one day hold period from the date of issuance of the Debentures in accordance with applicable securities laws and the policies of the Exchange. The Private Placement is expected to close on or around January 19, 2022.

The Corporation may redeem the Debentures for cash at any time prior to the maturity date, in whole or in part, from time to time without bonus or penalty, at a redemption price equal to the Debentures principal amount plus accrued and unpaid interest, if any.

The closing of the Private Placement is subject to regulatory approval including but not limited to, the approval of the Exchange.

Under the Canada Labour Code, the employer is responsible for the occupational health and safety of their employees. Along with accepted public health measures, such as frequent handwashing, physical distancing, the wearing of masks and vaccination, adoption of widespread rapid-testing is now being embraced. In light of the increasing number of break-through cases emerging each week, many workplaces are now looking to rapid-testing, for both the vaccinated and unvaccinated, to help:

• minimize production downtime relative to erroneous diagnosis
• quickly triage which employees, if any, may need additional care
• slow the spread of COVID-19 as well as any future infectious diseases throughout the workplace
• keep employees, their families, and the community safe
• safely reopen the economy

To add additional support for the track-and-trace protocols for the rapid-testing procedures, Sparta and SBL also offer sophisticated A.I. powered screening technology to help quickly triage who in the workplace should be tested each day, thus providing a seamless program for worker safety.

Earlier today, Sparta announced that it is boosting its rapid testing program to provide workplaces with an easy, seamless, and secure way to trace cases of illness like COVID-19. Best described as an authenticated testing protocol, it's backed by decentralized blockchain technology that will allow for the capturing of ongoing test data on an employee's smartphone, or other hand-held device, with the highest level of security.

Various types of rapid tests can provide results within minutes, as opposed to days. They are less expensive than lab tests, most are more portable, as well as accessible to more people. Therefore, many airports, arenas and other public places around the world are turning to COVID-19 rapid testing as we try to fight our way out of the persistent pandemic. Sparta unveiled its workplace rapid testing program earlier last year to help employers and our economy. Now, this collaboration with partners Achu Health™ and ISDV.co is tackling the concerns many workplaces have about keeping close track of cases and ensuring rapid test results remain confidential. Sparta and Achu are now utilizing ISDV's expertise in blockchain technology to provide a more secure rapid testing protocol to various industry sectors.