SponsorsOne announced today  that it intends to raise up to $3,000,000 through a non-brokered private placement (the “Offering”) of up to 3,529,412 units (a “Unit”) at a price of $0.85 per Unit subject to approval of the Canadian Securities Exchange (the “CSE”).

Each Unit will consist of one common share in the capital of the Corporation (a “Share”) and one half of one nontransferable common share purchase warrant (a “Warrant”), with each whole Warrant entitling the Subscriber to purchase an additional common share in the capital of the Company (a “Warrant Share”) at a price of $1.10 per Warrant Share for a period of twenty-four (24) months from the closing date. Proceeds of the Offering will be used for product development, sales and marketing, acquisitions, working capital and related legal fees.

View the full press release.