VANCOUVER, British Columbia, March 02, 2026 (GLOBE NEWSWIRE) — SPARC AI Inc. (the “Company”) (CSE: SPAI) (OTCQB: SPAIF) (Frankfurt: 5OV0), developer of the Overwatch GPS-denied navigation and targeting platform, today announced the appointment of Matt McCrann as Chief Executive Officer of its U.S. subsidiary.
McCrann will lead SPARC AI’s North American expansion, establishing the Company’s operational presence and deepening engagement with U.S. defense, federal, and allied government customers. The appointment advances SPARC AI’s strategy to scale in the world’s largest defense market amid growing demand for resilient navigation and targeting capability in contested environments.
McCrann brings extensive experience building defense technology operations in the United States. He previously served as Chief Executive Officer of DroneShield’s U.S. subsidiary, where he established and expanded U.S. operations during a period of significant revenue growth and scaling across federal customers.
As U.S. CEO, McCrann will focus on converting SPARC AI’s geolocation intelligence technology into deployable capability. His mandate includes building the U.S. team and operating infrastructure; advancing field evaluations and pilot programs; aligning with active procurement pathways; and forming strategic partnerships with defense primes and system integrators to support adoption of the Overwatch platform across air, land, and maritime domains.
Anoosh Manzoori, Chief Executive Officer of SPARC AI, said:
“Matt’s appointment represents a significant step forward in SPARC AI’s strategy to expand its U.S. presence, strengthen customer proximity, and accelerate commercial outcomes in the world’s largest defense market.”
Matt McCrann, U.S. CEO, said:
“GPS can no longer be assumed in modern operations. Position assurance in contested environments is becoming foundational across unmanned systems, edge devices, navigation, tracking, and targeting systems. SPARC’s software-driven approach enables highly accurate geolocation using sensors already embedded within these platforms — without additional hardware — making resilient positioning scalable across fleets and integrated systems. Our focus is to embed this as dependable infrastructure that strengthens mission effectiveness across domains.”
SPARC AI’s Overwatch platform enables accurate positioning and targeting in GPS-contested and denied environments. As autonomous and integrated systems scale across domains, demand for resilient, software-enabled position assurance infrastructure continues to grow across U.S. and allied defense programs.
In connection with his appointment, the Company has granted McCrann stock options pursuant to its stock option plan as follows:
- 500,000 options: 125,000 options vest quarterly for first 12-month service;
- 1,000,000 options vests when $1M in cash collected and $2M+ in qualified pipeline or other mutual agreement, for first 18-month service;
- If there is a change of control all options would vest immediately; and
- All options expire March 2, 2029, and have an exercise price of C$1.50 per share.
SPARC AI is also issuing performance-based options to members of its Australian management team engaged in domestic defence business development, recognising the critical role they play in building SPARC AI’s position within the Australian defence market. The Company has granted Greg Daly and Adam Worsley each 150,000 options with an exercise price of C$1.50 and expire on March 2, 2029.
Greg Daly is a strategic Defence/National Security leader with 30+ years’ experience, including commanding Australia’s SAS and leading multi-disciplinary teams with U.S. SOCOM and NATO.
Adam Worsley boasts a distinguished 20-year military career, during which he integrated offensive support capabilities and advanced technologies throughout deployments in East Timor and Afghanistan. He has also served as an instructor in both Australia and the United States, imparting technical and operational expertise.
About SPARC AI Inc.
SPARC AI is a defence technology company solving one of the most critical challenges in modern autonomous systems: accurate navigation and targeting when GPS is unavailable. The company’s AI-powered platform transforms the low-cost inertial sensors already inside commercial drones into precision instruments without additional hardware, external signals, or complex integration. SPARC AI’s software-only approach makes GPS-denied capability for target acquisition and navigation accessible at the price point and scale that modern drone operations demand, from single platforms to fleets of thousands.
For further information contact:
Anoosh Manzoori, Chief Executive Officer
SPARC AI Inc.
E-mail: anoosh@sparcai.net
Web : http://www.sparcai.co
Tel: (213) 459-3994
Cautionary Statement Regarding Forward-Looking Statements
This news release contains “forward-looking statements” or “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements include, but are not limited to, statements regarding: the intended use of proceeds from the Offering.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements are highlighted in the “Risks and Uncertainties” in the Company’s management discussion and analysis.
Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company’s actual financial results, performance, or achievements to be materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop forward-looking statements include, without limitation: the failure to complete the Offering; reliance on key management and other personnel; potential downturns in economic conditions; competition from others; market factors, including future demand products developed by the Company; the policies and actions of foreign governments, which could impact the ability of the Company to successfully market its products; the Company’s expectations in connection with the development of the Target Acquisition System; the effectiveness of the Target Acquisition System; changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration or laws, policies and practices; the impact of general business and economic conditions; currency exchange rates; and the impact of inflation.
The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
