TORONTO, ON / ACCESSWIRE / June 15, 2021 / Sparta Group (TSXV:SAY) (the "Corporation" the "Company", "Sparta Group", "Sparta Capital", "SAY.V" or "Sparta") has signed a non-binding Memorandum of Understanding ("MOU") with Austin, Texas based SBL Testing Technologies USA Inc. ("SBL USA") to acquire a minority position in SBL USA.
The agreement will provide Sparta expanded market coverage in both the United States and abroad for its recently announced workplace virus protection program and will provide Sparta's TruckSuite™ and Sparta Health division's access to important new technologies related to the fight against COVID-19 and other infectious diseases. This includes a recently acquired distributorship for SAFE ENTRY STATION, an advanced AI screening technology, developed by Canadian based Predictmedix Inc. (PMED)(PMEDF) in partnership with Toronto based JUICEWORKS. The system is designed to rapidly screen individuals for symptoms associated with COVID-19, influenza and other respiratory infectious diseases. The system can also be configured to screen for THC and alcohol impairment. The agreement between Sparta and SBL will also involve a line of soon-to-be introduced saliva-based point-of-use rapid-tests for COVID-19 screening. As part of the arrangement, Sparta has committed to assisting SBL in its efforts to secure initial rounds of business development funding.
Under the terms of the agreement, Sparta will acquire a minority position in SBL USA, immediately opening additional sales channels to international industrial clients (especially in the industrial energy and resource sector) and will allow for SBL to provide its products to Sparta's TruckSuite™ and Sparta Health Group™ clients. Sparta also has an option to expand its position based on certain milestones being achieved.
Before even turning to any of Sparta's divisional sales channels, and only utilizing SBL's established networks, orders for more than sixty workplace virus protection systems are projected to be in house by the end of 2021. Once sales training has been completed with the Sparta team, updated proformas can be made available.
"When finalized, we believe this agreement will not only allow us the ability to better fulfill plans to expand our reach internationally, but it will bring significant value to our customers because it will give us quick, easy access to some of today's most advanced technologies and tools related to both COVID-19 mitigation and to some important new areas of concern expressed by our present customer base," said Sparta President, John O'Bireck.
O'Bireck and his team use both the general workforce and the tourism industry as an example of potential demand for pathogen protection tools. A recent survey by the multinational professional services network, Deloitte indicates a total of 89 percent of those who worked from home during the pandemic will be going back to the workplace at some point in 2021. As employers prepare for their workforce to return, safety measures are top of mind. Meanwhile, the tourism industry is trying to bounce back, but just last week the Global Media Forum DW based in Germany, reported that 70 countries had more cases of COVID as opposed to a drop in cases, and continue to struggle with the virus. The news has sparked debate about when tourism should open again and what tools should be used to keep travellers safe.
With headquarters in both Calgary and Austin, Texas, SBL ("SBL" is the collective term for SBL USA and its sister company SBL Testing Technologies Inc.) is a well-established provider of on-site rapid testing technologies and support tools to help employers manage risk and maintain worker safety. While SBL's primary focus has been on providing workplace safety solutions for the Canadian industrial sector, SBL USA has been concentrating on both industrial and commercial markets throughout the USA and the Caribbean, which will complement the efforts of Sparta's TruckSuite™ division and their Sparta Health Group™ division.
"What the Sparta team has put together for both its Sparta Health and TruckSuite™ divisions is very exciting and we look forward to being a part of both the execution of that sales cycle and a provider of some very exciting complimentary technologies." said Rich Robillard, Managing Director of SBL.
SBL integrates innovative safety & testing technologies into complex workplaces, aligning to corporate risk profiles, safety programs, and operational processes. SBL works with businesses, government agencies, and organizations in all industrial sectors, leveraging technology to reduce risk and enhance policy effectiveness. SBL's team has successfully provided risk management, safety solutions and workplace testing technologies for decades. Pandemic Response / Business Continuity solutions are led by a team who collectively have 80+ years of delivering fully integrated solutions to government agencies & Fortune 500 companies worldwide.
You can learn more about SBL testing technologies through the following video link: SBL technology and by visiting www.sbltt.com.
Sparta Group (a.k.a. Sparta Capital Ltd.) is a technology-based company that owns or holds a controlling interest in a network of independent businesses that supply energy saving technologies designed to reduce energy inefficiencies, achieve reduced emissions, and increase operating efficiencies in various industries. In response to the COVID-19 crisis, Sparta has also expanded its scope to help facilitate supply of necessary materials while assisting talented inventors who are looking to introduce innovative technical solutions that will bring greater normalcy to the post COVID-19 world. Sparta's network of independent businesses provides a wide range of specialized energy capturing, converting, optimizing, and related services to the commercial sector. Sparta provides capital, technical and engineering expertise, legal support, financial and accounting knowledge, strategic planning, and other shared services to its independent businesses.
Sparta is a publicly traded company listed on the TSX Venture Exchange Inc. under the symbol "SAY" (TSXV:SAY). Additional information is available at www.spartagroup.ca or on SEDAR at www.sedar.com.
For further information please contact:
John O'Bireck, President & CTO
Email: [email protected]
Telephone: (905) 751-8004
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. These include, but are not limited to, the failure to obtain necessary regulatory approvals, necessary financing and risks associated with the environmental technologies industry in general. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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SOURCE: Sparta Group