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SPARKPOWER GROUP INC Spark Power Sees Continued Expansion and Improved Margin Growth Throughout 2021 ; SG & A Reductions Take Hold ; Credit Facility Upgraded First Quarter revenue grows 4.7 % Year over Year to $ 56 million First Quarter Adjusted EBITDA grows 35.6 % Year over Year to $ 7.3 million Continued revenue growth in renewables segment up 26.8 % Year over Year to $ 16.9 million ( Spark Power reports in Canadian dollars unless otherwise specified ) OAKVILLE , ONTARIO – May 17 , 2021 - Spark Power Group Inc. ( TSX : SPG ) , parent company of Spark Power Corp. ( " Spark Power " or the " Company " ) , has announced its financial results for the three - month period , ended March 31 , 2021. All amounts are in Canadian dollars unless otherwise specified . " As Spark moves forward , we are optimistic about driving continued earnings growth and taking advantage of a stabilizing global economy and business platform , ” said Richard Jackson , President & CEO of Spark Power . " Although COVID - 19 continues to create some business challenges throughout both Canada and the U.S. , we are confident about the road ahead and look forward to executing our growth strategy , " he said . Along with executing on its growth , the Company's new Senior Leadership Team , established in early 2021 , continues to build its “ One Spark ” platform , focused on the integration of our operations , culture , and brand . " As expected , our integration efforts are driving lots of new cross selling opportunities between our lines of business , and resulted in significant overhead cost reductions , that have steadily increased throughout the period , with full realization of these savings projected in the second quarter and thereafter . We continue to emphasize our field focus with the launch of our new company values , operational excellence function , and two - year technology transformation that will place all of our business operations into one common , first - class enterprise resource planning system , ” said Jackson . " With our revised credit facility now in place , the business is well positioned to scale up throughout the balance of 2021 , and beyond , " added Jackson . Upgraded Credit Facility with Bank of Montreal On May 15 , 2021 , the Company entered into a term sheet to amend its credit facility with its lender that ( i ) consolidates the existing term debt facilities and provides for an additional $ 5.0 million of borrowing , ( ii ) increases the operating line of credit by $ 5.0 million and expands the borrowing base , ( iii ) revises the amortization period of all of the long - term debt to 8 years , ( iv ) provides covenant relief by moving the basis of calculation to IFRS accounting standards and ( v ) extends the maturity date of the debt facility to September 30 , 2023 .