Spara Acquisition One Corp announces filing of preliminary non-offering prospectus related to proposed qualifying transaction

TORONTO, July 17, 2012 /CNW/ - Spara Acquisition One Corp. (the "Corporation") (TSXV: SAO.P) announced that it has filed and received a receipt for a preliminary non-offering prospectus with the Ontario Securities Commission in connection with the Corporation's proposed acquisition of all of the issued and outstanding securities of STE (Clean Recycling and Energy) plc ("STE") which was previously announced (the "Transaction").

Neither the preliminary prospectus, nor its filing with the Ontario Securities Commission, its publication on www.SEDAR.com or this press release, constitutes the announcement or making of any offer by the Corporation for any securities of STE, whether for the purposes of Rule 2.7 of the United Kingdom's City Code on Takeovers and Mergers, or otherwise. There is no certainty that any such offer will be made, nor as to the terms of any such offer (if made), and the Corporation has no obligation or commitment to make any such offer.

About Spara Acquisition One Corp.

The Corporation is a Capital Pool Company listed on the TSX Venture Exchange (the "TSXV").  The Corporation has not commenced commercial operations and has no assets other than cash.  The Transaction, if completed, will constitute the Corporation's "Qualifying Transaction", as defined in TSXV policies.

About STE (Clean Recycling and Energy) plc

STE is a Jersey, Channel Islands domiciled company, with a 100% owned UK based waste management business focused on recycling and green energy operating under the trade name Sterecycle®.

Further Information

Further details about the proposed transaction and the combined entity are provided in the preliminary prospectus filed July 16, 2012.

Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable pursuant to TSXV requirements, majority of the minority shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the preliminary prospectus and as disclosed in any final prospectus eventually filed in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

The Corporation will engage a sponsor in connection with the Transaction if required in accordance with the requirements of the TSXV.

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.

Shane McLean
Corporate Secretary
Spara Acquisition One Corp.
[phone]