SponsorsOne Announces Name Change and Proposed Share Consolidation
Waterloo, Ontario – TheNewswire - March 15, 2023 - SponsorsOne Brands Inc., (CSE:SPO) (Frankfurt:5SO), (OTC:SPONF) (“SponsorsOne” or the “Company”), a company that utilizes its proprietary platform that combines direct to consumer digital marketing and ecommerce around the brands created in house is pleased to announce that as a result of the continuance of the corporation from the province of Ontario to the province of British Colombia on February 27, 2023, the Issuer changed its name from “SponsorsOne Inc.” to “SponsorsOne Brands Inc.” (the “Name Change”). The Company registered business name registrations for “SponsorsOne” in British Columbia and Ontario and continues to carry on business as “SponsorsOne”.
SponsorsOne’s board of directors approved on March 2, 2023, the consolidation of all of its issued and outstanding share capital (the “Common Shares”) on the basis thirty (30) pre-consolidation shares for every one (1) post-consolidation share (the “Consolidation”). Pursuant to the provisions of the Business Corporations Act (British Columbia) and the articles of the Company, shareholder approval for the Consolidation is not required.
The Company currently has 1,993,742,722 issued and outstanding Common Shares. As a result of the intended Consolidation, the issued and outstanding Common Shares of the Company will be reduced to approximately 66,237,300. Any fractional New Common Shares following the Share Consolidation that are: (i) less than one-half of a New Common Share shall be cancelled, and (ii) at least one-half of a New Common Share shall be rounded up to the next whole number of New Common Shares. The exercise or conversion price and the number of Common Shares issuable under any of the Company’s outstanding convertible securities will be proportionately adjusted upon the Share Consolidation. Shareholders of record as at the record date will receive a letter of transmittal providing instructions for the exchange of their Common Shares as soon as practicable following the record date.
The consolidation is subject to approval by the CSE. The effective date of the consolidation will be disclosed in a subsequent news release.
About SponsorsOne Brands Inc.
SponsorsOne is the leader in the next evolution of brand creation and digital marketing through influencer marketing, storytelling, and digital commerce with the SponsorCoin platform and its highly scalable – smart contract-based digital currency. SponsorCoin allows the brands to build and manage exclusive and highly engaged communities of salespeople and marketers within the social realm. The SponsorCoin platform provides data-driven marketing campaigns that will change the way brands connect with their customers. SponsorCoin is a tool for brands to inspire real movements around their products and services. Their most valuable customers become their best salespeople, producing far higher ROI than current social media advertising methods. SponsorsOne’s wholly-owned subsidiary S1 Brands Inc. builds wholesale/retail distribution channels for our internal Brands, acting as a master distributor. S1 Brands provides sales and marketing on behalf of the Brand to its vast network of national wholesalers and retailers and provides purchase order financing to assist the Brand in fulfilling every order. Premier Beverage Consortium Inc. is a wholly-owned subsidiary and is brand building for the global spirits market with its flagship "Ready to Drink" product called Doc Wylder's. HS Brands Inc. is a wholly-owned subsidiary and is brand building for the global Hemp Smokes market with the launch of multiple premium products such as Primero Hemp Smokes and Suede Hemp Smokes. Ownership of the Brand combined with distribution, digital marketing innovation, and capital is the winning formula for building the next billion-dollar Brand. To learn more, please visit www.sponsorsone.com
ON BEHALF OF THE BOARD
Gary Bartholomew, Executive Chairman
The Canadian Securities Exchange ("CSE") has neither approved nor disapproved the contents of this Press Release.
This news release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this news release, the words "estimate," "project," "belief," "anticipate," "intend," "expect," "plan," "predict," "may," or "should" and the negative of these words or such variations thereon or comparable terminology, are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks:
risks associated with marketing and sale of securities
the need for additional financing requirements and access to capital, reliance on key personnel
the potential for conflicts of interest among certain officers or directors with certain other projects
the volatility of the volume and price of the Common Shares, the failure of the business strategy, the integrity of the Company's patents and proprietary intellectual property and competition.
The Company cautions that the foregoing list of risk factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events, including the risk factors, set out in the Company's Listing Statement. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to above will not cause such forward-looking statements and information to differ materially from actual results or events.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.