Sparta Provides Update on Upcoming Property Development in Picturesque Prince Edward County
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Sparta Provides Update on Upcoming Property Development in Picturesque Prince Edward County

Wednesday, January 13, 2021 10:20 AM
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TORONTO, ON / ACCESSWIRE / January 13, 2021 / Sparta Group (TSXV:SAY) (the "Corporation" the "Company", "Sparta Group", "Sparta Capital" or "Sparta") is pleased to report that their previously announced plans to transform a property in eastern Ontario into a desirable community is now ready to move forward, spearheaded by development partner FLC Group of Toronto ON.

It has always been Sparta's goal to see the old, decommissioned WWII property, atop MaCaulay Mountain in Picton, transformed into a community that blends in with the natural, picturesque features of Prince Edward County and that makes green space a priority. The new VineRidge development will be nestled up against the scenic 440-acre MaCaulay Mountain Conservation Area that includes miles of great walking and biking trails and is close to many award-winning wineries for which The County has gained a very favorable reputation.

While Sparta has been involved in the property for several years, management was looking for just the right developer; one that would share their enthusiasm for the natural features of the land, as well as be keen on incorporating significant eco-friendly outdoor living space.

"This has been a long time coming, but we feel very comfortable that the right developer has been selected in the FLC Group. As an environmental technology company, we're fortunate to be involved with a developer that has extensive experience and appreciates the importance of including ample green space in design. Our vision of a beautiful community in the heart of wine country is finally coming together," said President, John O'Bireck.

Research suggests that green space or green zones are important for good mental health. In fact, the global COVID-19 pandemic has highlighted how exposure to green environments is psychologically restorative. Sparta's management and staff see the property as the perfect location for optimum mental health, as it will not only include a lot of green space but will also give homeowners access to a conservation area with expansive walking and biking trails, literally within steps of their back doors.

FLC Group will be the primary developer of VineRidge, taking on the all-important site management and building responsibilities. The community design is expected to be an English Regency style.

"We too are excited to be working on this project. It's not every day that you get to create a residential development in a space this quaint and right on top of natural features like McCauley Mountain," said Fred Heller, President of FLC Group.

More detail on the VineRidge development is expected to be released over the next few weeks.

About FLC Group

For over four decades, FLC Group President Fred Heller has been at the forefront of real estate development and construction management. His extensive resume includes builder/developer of residential and commercial construction projects in South Africa; low and mid-rise residential projects for Sierra Building Group, LCL Builds and Trillium Housing in Southwestern Ontario; and development and project manager of The St. Regis Toronto, the second tallest building in Canada. Mr. Heller's widespread knowledge and expertise in real estate development, construction and project management coupled with his passion and hands-on approach have earned him recognition and respect in the building industry.

About Sparta

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" (TSX.V: 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
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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Sparta Group

Sparta Group
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