For Immediate Release
Waterloo, Ontario, July 30, 2018: SponsorsOne Inc. (CSE: SPO) (Frankfurt: 5SO) (“SponsorsOne” or the Company”), SponsorsOne Closes $2,237,000 Prospectus Offering Waterloo, Ontario, July 30, 2018: SponsorsOne Inc. (CSE: SPO) (Frankfurt: 5SO) (the “Corporation”, or “SponsorsOne”) is pleased to announce that it has closed its previously announced public offering (“Offering”) with Emerging Equities Inc. as agent (the “Agent”). SponsorsOne issued 12,425,742 units of the Corporation (“Units”) at a price of $0.18 per Unit for gross proceeds of CA$2,236,634. Each Unit is comprised of one common share (“Common Share”) and one half of a common share purchase warrant (each whole warrant, being a “Warrant”). Each Warrant is exercisable into one Common Share at an exercise price of $0.30 per Common Share, on or before July 24, 2019, provided that if the closing price at which the Common Shares trade on the Canadian Securities Exchange (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) exceeds $0.55 for five (5) consecutive trading days at any time following November 25, 2018, the Corporation may accelerate the expiry date of the Warrants (the “Reduced Warrant Term”) to the date that is twenty-one (21) calendar days following the date a press release is issued by the Corporation announcing the Reduced Warrant Term.
The closing of this Offering is in addition to the $282,319 special warrant financing that was closed on May 16, 2018 and is being cleared by the prospectus pertaining to the Offering. On July 24, 2018, the special warrants converted, with no additional proceeds to the Corporation, into 1,725,283 Common Shares and 784,220 Units. The Agent received a cash fee equal to 10% of the gross proceeds of the Offering.
The Offering was completed by way of short form prospectus filed with the securities regulatory authorities in each of the provinces of Ontario, British Columbia and Alberta (the “Prospectus”). The Prospectus is accessible on SEDAR at www.sedar.com.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available
About SponsorsOne Inc.:
SponsorsOne is disrupting the traditional advertising model and leveling the playing field for small brands. Our cloud based platform, SponsorsCloud, lets brands reach millions of targeted consumers with authentic, word-of-mouth advertising, bypassing intermediaries like agencies and ad networks. Our proprietary cryptocurrency, SponsorCoin, is awarded to Influencers who share brand promotions with their social media followers. SponsorCoin can then be used to purchase products and services at a discount from any brand on our network or trade for popular cryptocurrencies such as Ethereum, Bitcoin and Litecoin. This new advertising model cuts upfront costs for brands to near zero and gives every customer an incentive to become a brand ambassador.
ON BEHALF OF THE BOARD
Gary Bartholomew, Executive Chairman
To learn more or inquire please visit http://sponsorsone.com/
The CSE has neither approved nor disapproved the contents of this Press Release.
FORWARD-LOOKING INFORMATION AND STATEMENTS
This press release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities laws. Forward-looking statements relate to future performance, events or circumstances, and are based upon internal assumptions, plans, intentions, expectations and beliefs. All statements other than statements of current or historical fact constitute forward-looking statements. Forward-looking statements are typically, but not always, identified by words such as “will”, “expect”, “believe”, “anticipate”, “estimate”, “plan”, “forecast”, “potential”, “continue” and similar expressions. By their nature, forward-looking statements are based upon certain assumptions and are subject to numerous risks and uncertainties, many of which are beyond SponsorsOne’s control, including the impact of general economic conditions, industry conditions, current and future commodity prices, currency and interest rates, anticipated production rates, borrowing, operating and other costs and funds from operations, the timing, allocation and amount of capital expenditures and the results therefrom, anticipated results, the sufficiency of budgeted capital expenditures in carrying out planned activities, competition from other industry participants, availability of qualified personnel or services and equipment, stock market volatility, effects of regulation by governmental agencies including changes in environmental regulations, tax laws and royalties, and the ability to access sufficient capital from internal sources and bank and equity markets. This list is not exhaustive.
The forward-looking statements contained in this Press Release are made as of the date hereof and SponsorsOne assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. All forward-looking statements contained in this Press Release are expressly qualified by this cautionary statement.