ARETI Energy Files Early Warning Report Regarding Acquisition of Common Shares in Spartan Delta Corp.

GENEVA, Switzerland, March 18, 2021 /CNW/ - ARETI Energy S.A., dba ARETI Energy Ltd. ("ARETI"), provides the following early warning disclosure under applicable Canadian securities laws in connection with the closing of an exempt take-over bid (the "Offer") made by Spartan Delta Corp. ("Spartan") to acquire all of the issued and outstanding common shares ("Inception Shares") in the capital of Inception Exploration Ltd. ("Inception") in exchange for an aggregate of 23,734,384 common shares in the capital of Spartan ("Spartan Shares"). The Offer was made pursuant to a pre-acquisition agreement dated February 16, 2021 (the "Pre-Acquisition Agreement") between Spartan and Inception.

On March 18, 2021, Spartan took up and paid for all Inception Shares validly deposited under the Offer, including all of the Inception Shares held by ARETI. Each Inception Share held by ARETI was acquired by Spartan under the Offer for approximately 0.001232 of a Spartan Share. Pursuant to the Offer, ARETI acquired an aggregate of 23,675,779 Spartan Shares at a deemed issue price of $3.8341 per Spartan Share based on the volume weighted average price of the Spartan Shares for the 20 trading days preceding the execution of the Pre-Acquisition Agreement.

Immediately prior to the closing of the Offer, ARETI did not have ownership of or control over any Spartan Shares. ARETI acquired ownership of and control over 23,675,779 Spartan Shares on closing of the Offer, representing approximately 20.78% of the total number of Spartan Shares that ARETI understands to be issued and outstanding on a non-diluted basis immediately after closing.

The acquisition by ARETI of Spartan Shares under the Offer was made for investment purposes. Subject to applicable law, ARETI may from time to time acquire additional securities of Spartan or dispose of Spartan Shares.

The address of Spartan is Suite 500, 207 – 9^th Ave Calgary, AB T2P 1K3. The address of ARETI is 1 Quai du Mont-Blanc, 1201 Geneva, Switzerland.

This news release is issued pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which Spartan is a reporting issuer containing information with respect to the foregoing matters (the "Early Warning Report").

SOURCE ARETI Energy S.A.

A copy of the Early Warning Report will be available under Spartan's profile at www.sedar.com or may be obtained by contacting Nikolay Galanov at [phone] ext. 4051.