Sparta Capital Ltd. (TSXV:SAY) announced a non-brokered private placement of up to 5,000,000 units at a price of CAD 0.05 per unit for gross proceeds of up to CAD 250,000 on January 29, 2019. Each unit will consists of one share and one warrant exercisable at CAD 0.11 per share for up to 24 months of closing. The transaction is subject to approval of all necessary approvals including the approval of TSX Venture Exchange Inc. All securities issued will be subject to a four-month hold period from the date of closing. The company may pay finder's fees of 7% in cash and issue warrants equal to 7% of units sold in the transaction. On the same date, the company has issued 1,100,000 units for gross proceeds of CAD 55,000 in its first tranche.