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SPARC AI Enters Second Stage of Development



SPARC AI INC
 

February 26, 2024 – TheNewswire - Toronto, Canada – SPARC AI INC.  (CSE:SPAI) (OTC:EGTTF) (Frankfurt: 5OV0) (“SPAI” or the “Company”) is pleased to provide an update on the development of the geospatial AI chip and mobile app.

 

The engineering works are progressing to timelines and budget. The development team have completed stage 1 of the project and started working on the second stage that includes the integration of SPARC into a mobile app and microchip.

 

After an extensive review process, the Company selected US based hardware and microchip manufacturer, Coral. Coral is owned by Google and services a broad range of customers developing AI applications. The Company has ordered Coral microchips and expects delivery by mid-March.

 

Also in March, the Company expects to have a working mobile application and will provide further updates to the market.

 

On completion of stage 2, the company will undertake comprehensive integration testing of both the mobile application and microchip. The company is in the process of purchasing US manufactured drones to test the SPARC enabled microchip.

 

The Company looks forward to providing further updates to the market.

  

For more information contact:

 

Website: https://www.sparcai.co

Investor Presentation: Click Here

 

Anoosh Manzoori, CEO

SPARC AI INC.

Email: anoosh@sparcai.net

Phone: +61.3.9666338

 

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE. NO SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

 

FORWARD LOOKING INFORMATION

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information.

 

The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

 

Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors, assumptions and exclusions is not exhaustive.

 

The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Canadian Securities Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.