SponsorsOne Announces Acquisition Letter of Intent and Private Placement
Friday, September 6, 2019 7:30 AM
WATERLOO, ON / ACCESSWIRE / September 6, 2019 / SponsorsOne Inc., (CSE:SPO) (FSE:5SO), the company that makes small brands BIG through large, engaged, authentic communities of micro-influencers that buy and support the brands they love, announces that it has entered into a letter of intent for the arm’s length acquisition (the “Acquisition”) of all of the issued and outstanding common shares of Verve Beverage Company (“VBC”). In addition, SPO is pleased to announce a non-brokered private placement (the “Private Placement”) of 20,000,000 commons shares at a price of $0.05 per common share with an over allotment option of up to an additional 10,000,000 common shares at $0.05 per common share. In addition, SPO announces that it has issued 600,000 common shares at a price of $0.05 per common share to a consultant in satisfaction of $30,000 of indebtedness.
Subject to due diligence and regulatory approvals, the Acquisition would be completed by SPO issuing 66,000,000 common shares in exchange for all of the issued and outstanding common shares of Verve.
“The acquisition of the VBC extends the brand development strategy of SponsorsOne as we discover unique opportunities to make small brands big”, states Myles Bartholomew, CEO of SponsorsOne. “Particularly in the CBD space, opportunities to work with existing Brands or create new ones has opened up the market opportunity to leverage our internal brand building skills and technology.”
VBC also brings the skill set on wholesale and retail distribution which is complementary to our influencer marketing - direct to consumer channel. SponsorsOne can offer complete multi-channel distribution to Brands going forward under the acquisition. SponsorsOne continues to work with Brands, building direct to consumer marketplaces and will now extend the business to building proprietary in house brands where tremendous market opportunity exists.
All common shares issued under the Private Placement will be subject to a four month and one day statuary hold period pursuant to applicable securities laws.
About Verve Beverage Company
Verve Beverage Company (“VBC”) has licensed the Verve Brand and is a premium energy beverage with over $236 million USD in historical sales in the direct to consumer channel. VBC owns the exclusive distribution license to launch this proven brand into retail stores in the US, Canada and Mexico, leveraging over $150 million dollars spent in marketing and developing the brand. VBC has also built an extensive wholesale and retail distribution network that can be leveraged to sell other Brand’s products. Combining the direct to the consumer strategy with the wholesale/retail distribution SPO can offer a complete sales solution to all its Brands.
SponsorsOne is the leader in the next evolution of digital marketing through micro-influence, storytelling and digital-commerce with the SponsorCoin platform and its highly scalable - smart contract based digital-currency. Combined, this allows brands to build and manage exclusive and highly engaged communities of influencers (from pro to micro-influencers) within the social realm. The SponsorCoin platform provides for 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 in which their most valuable customers become their best salespeople, producing far higher ROI than current social media advertising methods.
Contact: [email protected]
ON BEHALF OF THE BOARD
Gary Bartholomew, Executive Chairman
To learn more, please visit www.sponsorsone.com
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.
SOURCE: Cyber North Ventures