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CALGARY, AB / ACCESSWIRE / July 23, 2020 / Sparta Group (TSXV:SAY) (the "Corporation", the "Company", "Sparta Group", "Sparta Capital" or "Sparta has just signed an exclusive 10-year licensing agreement with NME Ltd. giving them the ability to provide millions of truckers with a much-needed layer of protection during the on-going COVID-19 crisis and beyond.
The worldwide pandemic has turned the global trucking industry on its head. Freight companies have had to sideline thousands of truckers and are hemorrhaging cash, but Sparta's licensing agreement to distribute, co-develop and manufacture a suite of nanotechnology formulations used to kill harmful pathogens, in situ, should go a long way in giving drivers confidence in returning to the road.
The licensed compounds, which are FDA, EPA and Health Canada registered have the ability to kill 99.99% of dangerous viruses, bacteria and microbes, including SARS and MRSA, on contact. In addition, the formulations have been designed to create a continuous antimicrobial shield that prevents such organisms from attaching to the surface where they have been applied, without risk to humans, animals or crops.
Essentially, the chemistry is such that a matrix of microscopic swords (approximately 4 nanometers in length) makes strong microbe control possible. It is a system of mechanical germ and microbe removal that works without the addition of harmful chemicals, biocides or poisons by magnetically drawing microbes to the surface so the swords can destroy them; piercing and electrocuting the offenders.
In contrast, traditional antimicrobials work by leaching, or off-gassing of poisonous substances that have often hampered worldwide efforts to control environmental contamination as they tend to control some germs while not addressing others. As a result, this can allow organisms to adapt; which in-turn could potentially create resistant bacteria or so-called, superbugs.
The specially formulated chemical compounds will initially be used to produce a powerful antimicrobial spray that will be ideal for auto-release disinfecting of truck cab surfaces while offering persistent deactivation of any new microbes over an extended period of time. In addition, they will be blended to produce an effective, long-lasting hand sanitizer that disrupts a virus's outer coat, providing continuous protection for up to 16 hours. These initial two formulations are just a small part of a larger suite of COVID-19 safety tools that will be offered through Sparta's TruckSuite Canada division. As outlined in a news release dated July 16th 2020, the safety package for truckers will also include a comprehensive, app-based, data collection component so as to gain a better understanding of the impact of viral outbreaks like the Coronavirus.
Under the terms of the agreement, Sparta will be required to pay a performance-based royalty in exchange for the exclusive manufacturing and global distribution licensing rights for NME's products and applicable Intellectual Property (IP) rights for use in the transport industry. Also contemplated in the agreement are non-exclusive distribution rights in other market verticals, as well as co-operative development rights for additional markets.
"As we position ourselves for this new economy, the exciting thing about this agreement with NME is that it is extensive in scope, giving us the building blocks to work together to not only provide solutions for the trucking industry but also for many other new market verticals that are emerging as a result of the COVID-19 pandemic. As part of the agreement we have established that our company laboratory in Toronto will handle formulation and testing of new related products, thus opening us up to these other markets and helping even more people," said Sparta President, John O'Bireck
The initial suite of transport related products will be branded under the TruckSuite Canada TreeFrog banner with the intent to distribute them through a number of trucking-specific channels, including TruckSuite's established retail network that spans most of the 50 States of the USA as well as through a number of bulk channels. TruckSuite Canada is a Sparta division that helps fleet owners and drivers operate their vehicles in a more efficient and environment-friendly manner, saving them time and money.
O'Bireck has indicated that the company is working towards providing additional important products that are based on the licensing agreement and will be made directly accessible to truckers as they travel across various jurisdictions. A study published recently in the Journal of Infectious Control indicated that on average, people touch their face 23 times per hour. Of course, this has serious implications during a viral outbreak like COVID-19 thus a good reason to have one's hands coated in a hand sanitizer that provides continuous pathogen protection.
NME Ltd. is a Canadian product development, manufacturer and wholesale distribution company that provides products to a number of market verticals in Canada and throughout the rest of the world. Their products include, a family of patented slip-resistant coatings for use on floors, stairs, bathtubs showers and for footwear, a line of antimicrobial hand sanitizers, a family of long-term surface disinfectant and fogging solutions, a longer-term surface disinfectant and fogging solution, a line of air filters for residential and commercial applications and various forms of highly sought after custom Personal Protective Equipment (PPE), including masks, various styles of protective gowns, protective shields, goggles, gloves, shoe covers, etc.
Sparta Group is a 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. 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 & CTO
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 Capital Ltd.
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