Waterloo, Ontario / ACCESSWIRE / May 13 , 2014 / SponsorsOne Inc. (CSE: SPO) ("SponsorsOne" or the "Company") today announced 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 (each, 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 Company (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 24 months from the closing date. Proceeds of the Offering are expected to be used for product development, sales and marketing, acquisitions, working capital and related legal fees.
The Company may pay a cash finder's fee equal to 8% of the Units sold to investors introduced to the Company by the finder and will also issue to finders such number of non-transferrable common share purchase warrants equal to 8% of the Shares sold to such investors introduced to the Company by the finder. Warrants issued to finders will entitle them to purchase one common share of the Company for a period of 24 months from the closing date at a price of $1.10 per finder's warrant share. All payments and issuances of securities to any third party finder are subject to all necessary regulatory approvals, as applicable.
The Shares and any Warrant Shares issued upon exercise of the Warrants will be subject to a four month resale restriction under applicable Canadian provincial securities laws. There can be no assurance that the Offering will be completed as proposed or at all.
About SponsorsOne (CSE: SPO)
SponsorsOne is the next evolution of digital marketing, enabling one-to-one, authentic engagement between brands, influencers and their online enthusiasts through social sponsorship and commerce. With the SponsorsCloud platform, brands and influencers can identify and sponsor their fans. SponsorsOne is the creator of xCredits which is the currency that gives consumers real compensation for their authentic blogs, videos, tweets, pins and posts. With SponsorsCloud and the xCredit currency, the Company is building the engine to change and drive the social economy.
To learn how to get your online enthusiasts working for you, visit http://sponsorsone.com
For more information, please contact: Investor Relations at SponsorsOne
Toll-free: (888) 948-8028 x4
Local: (519) 279-6793 x4
The 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.
Not for distribution in the United States or through United States wire services
SOURCE: SponsorsOne Inc.
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