Waterloo, Ontario: / June 11 2014 / ACCESSWIRE / SponsorsOne Inc. (CSE: SPO), ("SponsorsOne" or the "Company"), the social commerce platform that brings elite sponsorship to the masses, held its annual and special shareholders' meeting on June 11, 2014. At this meeting, the Company's board of directors was re-elected with an overwhelming majority of support, the Company's auditors, MNP LLP were re-appointed and approvals were obtained in respect of enhancing the Company's ability to raise financing through the creation of three new classes of flexible preferred shares, issuable in series.
The Board also appointed Mr. Fairbairn as the Company's new CFO. Mr. Fairbairn joins the management team of SponsorsOne to assist the Company in executing its M&A strategy of acquiring boutique digital marketing agencies and social networking companies.
James Fairbairn is a Chartered Accountant who brings to SponsorsOne strong financial leadership skills and extensive experience in both publicly and privately-held companies. He has extensive experience in corporate governance, leadership, mergers & acquisitions, corporate finance, investor relations, financial management and reporting. He is an effective leader with extensive boardroom level experience and strong communication skills.
"James' impressive accounting and finance experience, specifically as it relates to M&A, is very valuable to SponsorsOne," said CEO Myles Bartholomew. "We welcome him to our team and believe the timing, as it relates to executing our strategic plan, is ideal for him to maximize his value and significantly contribute to SponsorsOne's planned rapid, global growth."
Mr. Fairbairn succeeds Jonathan Leong as CFO. Gary Bartholomew, Executive Chairman of SponsorsOne, commented "Jonathan was effective as an interim CFO, instrumental in guiding us through the first annual audit and quarterly report as a public company and we are grateful for all of his contributions. The Company wishes Jonathan success in his future endeavors."
In connection with his appointment as CFO, the Company has granted 100,000 stock options to Mr. Fairbairn. The stock options are exercisable at a price of $0.95 and expire ten years from the date of grant. The stock options shall vest 10% upon issuance, 45% on the first anniversary of the date of grant, and the balance on the second anniversary of the date of grant.
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 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.
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