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CALGARY, AB / ACCESSWIRE / August 14, 2020 / Today, Sparta Group (TSXV:SAY) (the "Corporation" the "Company", "Sparta Group", "Sparta Capital" or "Sparta") is providing greater detail about a recent deal that will enable the Company to distribute COVID-19 Antibody Testing within the Trucking Industry. This update follows a News Release that was issued August 7th entitled, Sparta Secures Agreement to Provide COVID-19 Antibody Testing to Trucking Industry.
While Sparta is still focused on its core businesses of upcycling sources of waste materials and sources of waste energy to improve the environment, generating revenues in the process, it is presently applying its talent base to also find ways to help with the COVID-19 crisis; especially as it relates to the frontline workers in the trucking industry. Sparta is helping facilitate supply of necessary materials/tools to address virus concerns while assisting talented inventors who are looking to introduce innovative technical solutions that will bring greater normalcy to the post COVID-19 world.
Antibody Testing details
- As stated in the August 7, 2020 news release, Sparta had previously announced (in a July 16, 2020 news release) that its "TruckSuite™ Canada division had assembled an exclusive, symbiotic suite of COVID-19 safety tools to assist the trucking industry". [And] as an important component of that suite, COVID-19 testing for truckers was to be added; and thus, this agreement becomes the cornerstone of the testing program".
- In the July 16, 2020 release the company stated that [the safety package] "will cover at least two forms of COVID-19 testing for truckers". The agreement reached with SBL Testing Technologies Inc. ("SBL") encompassed the first of the two forms of COVID-19 testing being contemplated; the purpose of this first form being to help a) determine if any company employees had been recently exposed to the SARS-CoV-2 virus and thus should go for further Polymerase Chain Reaction ("PCR") based nucleic acid testing (i.e. nose swab or saliva) through the IgM antibodies and b) to help track the duration of any disease-fighting IgG antibodies that continue to reside in the body after recovering from an infection of the novel coronavirus.
- The company announced in its July 23, 2020 news release, a licensing agreement to distribute and co-develop a package of nanotechnology formulations aimed at killing and leaving behind long term protection from harmful pathogens on the drivers and in their cabs. The Antibody Rapid Test Kits are intended to compliment the antimicrobial program for all trucking verticals.
- The agreement that enables Sparta/TruckSuite to start distributing the FDA Emergency Use Authorized ("EUA") COVID-19 Antibody Rapid Test Kits to truckers in the United States is a straight buy and sell distribution arrangement, where SBL sells the product to Sparta/TruckSuite at a discounted price with volume dependant rebates and Sparta/TruckSuite is free to mark up the product and sell it to its trucking clients. Included in the price is access to all online training & certification for test administrators, as well as white-labelling of their COVID-19 app, which Sparta intends to integrate into a suite of complimentary app platforms they are developing through 3rd party development teams. On the flip side, Sparta/TruckSuite has exclusivity for the trucking industry. Due to the extensive work Sparta has done with the trucking industry, management feel the Company is uniquely qualified to deliver a strong COVID-19 response to this important industry.
- The term "Trucking Industry" is not limited to over-the-road 18 wheelers, but includes trash trucks, couriers, school buses, construction vehicles, and many other forms of vehicle and therefore Sparta can distribute the COVID-19 Antibody Test Kits to these verticals. As Sparta looks to expand into each of the aforesaid verticals over the next six months, different forms of supply will be necessary. As a result, Sparta has been negotiating with a number of key channel-partners to meet the needs and intended timelines of each trucking vertical.
- While the primary testing kit presently being supplied is only 1 of 4 COVID-19 antibody tests (serology) with FDA Emergency Use Authorization (EUA), Health Canada is still evaluating point-of-care ("POC") COVID-19 antibody tests and has not issued any licenses to date. There are only 12 POC serology test platforms with active applications with Health Canada. SBL presently has 3 of the 12 manufacturer partners with active Health Canada applications.
The SBL team has been involved in the workplace diagnostic testing arena for more than fifteen years, servicing multiple market verticals, such as mining, energy, manufacturing and agriculture. As a result, they have provided many forms of workplace tests, including drug and alcohol testing and other forms of industry specific infectious disease testing. SBL has developed multiple long-term relationships with a number of tier-1 manufacturers, including Canadian, American and International suppliers and have provided many forms of workplace tests.
The COVID-19 testing protocols assembled, are simply an extension of the SBL present business model. The primary testing kit being supplied is only 1 of 4 COVID-19 antibody tests (serology) with FDA Emergency Use Authorization (EUA) and there is plenty of published clinical data from the National Institute of Health (NIH), who conducted the evaluations for the FDA. The kit is currently being sold and used throughout the USA and internationally. By partnering with Sparta/TruckSuite their collective efforts will be able to penetrate a significant portion of the sizable transport vertical.
With headquarters in Calgary, Alberta and Austin, Texas, SBL Testing Technologies is a provider of on-site rapid testing technologies and comprehensive support for workplaces to manage risk. SBL has partnerships with leading manufacturers worldwide to offer its clients the highest quality in workplace testing available, along with training and customized support services. 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 under the symbol "SAY". Additional information is available on our website at www.spartagroup.ca or on SEDAR at www.sedar.com
For more information 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 Capital Ltd.