Sparta Capital Ltd. (TSX-V: SAY):
CALGARY, May 15 /CNW/ - Sparta Capital Ltd. is pleased to report that on
May 14, 2009, Sparta purchased an approximate 12% common share minority
interest in an oil and gas data services business for an investment of
$300,000. The acquisition is effective as of March 31, 2009. The privately
owned business, with its head office in Calgary, has been active within the
oil and gas industry since 2003. The business has generated positive cash flow
each year since inception and management of the data services business can see
further potential opportunities to expand sales in the upcoming year. Sparta
participated as part of group that in total acquired an approximate 43%
interest held by one of the founding shareholders. The buying group also
included management of the data services business, members of the Sparta
management team and other independent third party investors. One of Sparta's
officers has joined the board of directors and has agreed to become Vice-
President of Business Development.
Mr. Ray Ludwig, Vice-President of Operations for Sparta states, "This
enterprise has a strong customer base and a history of exceptional growth, all
achieved through the hard work of a dedicated team of individuals who remain
with the organization. Sparta brings extensive experience and contacts in the
oil and gas industry and we are confident this new business relationship will
be beneficial to all parties involved."
This press release contains forward-looking statements based on
assumptions, uncertainties and management's best estimates of future events.
When used herein, words such as "intend" and similar expressions are intended
to identify forward-looking statements. Forward-looking statements are based
on assumptions by and information available to Sparta. Investors are cautioned
that such forward-looking statements involve risks and uncertainties.
Important factors that could cause actual results to differ materially from
those expressed or implied by such forward-looking statements include such
risks and factors as are detailed from time to time in the periodic reports
filed by the companies with regulatory authorities. Actual results may differ
materially from those currently anticipated. The company has no intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
THE TSX VENTURE EXCHANGE INC. HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information:
For further information: regarding Sparta Capital Ltd. please contact:
Ted Rousseau, President, Phone: (780) 489-8334, Fax: (780) 487-4470,
email@example.com; OR Ray Ludwig, Vice-President Operations, Phone:
(403) 539-9146, Fax: (403) 206-7568, firstname.lastname@example.org