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Technology Stocks : SPARC AI INC War Drones, Autonomous Vehicles & Chip

SPAI 3.010

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Mar 18 3:59 PM EDT

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From: Rocket Red

8/30/2024 9:50:19 AM

of 62

ORIGINAL: SPARC AI to Attend the Land Forces 2024 International Defence Exposition

2024-08-30 09:25 ET - News Release
Shares issued 13,044,316
SPAI Close 2024-08-29 C$ 0.365

(via TheNewswire)

August 30, 2024 – TheNewswire - Toronto, Canada – SPARC AI INC. (CSE: SPAI) (OTCQB: SPAIF) (Frankfurt: 5OV0) (“SPAI” or the “Company”) is excited to announce that management will be attending the Land Forces 2024 International Defence Exposition on 11-13 September 2024. The last time this event was held in 2022, it attracted over 20,000 visitors including Defence, Government and Industry delegations from 30 nations. Over 800 companies exhibit at the event.

The event will provide a great opportunity for management to network at the event and explore business development opportunities.

The Company would also like to clarify the news release issued on the 28 th of August 2024 in relation to a private placement. Since new management took over about 12 months ago, the Company has been largely funded by directors of the Company and structured to minimize dilution for shareholders. The directors accepted the technical risk of re-coding the entire SPARC AI software platform, integrating it into mobile applications, microchips and a high-end drone.

The Company had also recently announced an unsecured loan agreement with two directors. Once again, the directors are taking the risk on further product development, working capital and commercialization activities. This level of commitment to the success of a public company is unprecedented.

The Company is also in the process of applying for an R&D refund which is expected to be around $45,000. The directors also have warrants that could be exercised to provide further funding. The Company is not in any rush to undertake a private placement and is focusing its effects on commercialization activities.

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