Monthly Archives: July 2014

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Waterloo, Ontario / TNW-ACCESSWIRE / July 15, 2014 / SponsorsOne Inc. (SPO – CSE) (“SponsorsOne” or the “Company”), the social commerce platform that brings elite sponsorship to the masses, today announced that it has successfully deployed its auto-scale cloud based technology, the core operational framework for the SponsorsOne system.

SponsorsOne’s system is a proprietary auto-scale framework designed to deliver the lowest latency experience for users and brand managers hungry for analytics. Unlike traditional systems that can take minutes to respond to high-load conditions, the SponsorsOne framework measures both key user experience metrics and analytical computation metrics to scale services up or down in anticipation of real-time changes in demand. SponsorsOne’s social sponsorship and social commerce trading platform is designed to deliver consistent levels of service performance even in the face of extreme data throughput requirements or user load.

The framework manages application servers, a complex distributed data storage, data acquisition API’s linked to large data sources like Twitter and Facebook, distributed fault-tolerant queuing technology and the algorithmic progressing engines that compute a user’s social influence.

Myles Bartholomew, CEO of SponsorsOne commented, “This is an important technical achievement for the Company. It not only establishes the necessary framework to operate and scale our system as effectively as possible, it provides us with a competitive advantage. This achievement demonstrates our commitment to operational excellence and inspires confidence in the robustness, security, and scalability of our system.”

With the auto-scale platform installed in both pre-production and production environments the next major milestone for the company is to move the Social Sponsorship application from the development environment into Alpha test on the pre-production auto-scale platform. This effort commenced in June and is expected to be in full Alpha-Test late July or early August 2014.

 

View the Full Press Release

Today SponsorsOne announced that it closed the first tranche of a non-brokered private placement  (the “Offering”) pursuant to which it issued 541,205 units (“Units”) at a price of $0.85 per Unit for gross proceeds of $460,024. Each Unit comprises one common share and one half of one nontransferable common share purchase warrant (“Warrant”), with each whole Warrant entitling the holder to purchase one additional common share of the Company at a price of $1.10 until July 4, 2016. The Company issued 270,602 Warrants pursuant to the Offering.

“I am pleased with the institutional involvement in this first closing”, stated Myles Bartholomew, Founder and CEO of SponsorsOne.  “It is an endorsement of the Company’s business model and technology as we evolve towards enabling the next evolution of digital marketing”.

A Finders Fee of $33,402 was paid to a registered dealer with respect to 392,964 Units sold (the “Finder”). In addition, the Finder received 39,296 Finders Warrants to purchase 19,648 common shares of the Company at $1.10 per share at any time prior to July 4, 2016.

All securities issued are subject to a four-month resale restriction period expiring November 4, 2014.

In addition, the Company announces the exercise of 1,166,667 Warrants at a price of $0.30 for proceeds of $350,000.

The Company intends to use the net proceeds of the Offering used for product development, sales and marketing, working capital and related legal fees.

View the Full Press Release.