Who doesn't just love a reverse split?
SponsorsOne Announces Name Change and Proposed Share Consolidation
Wed, March 15, 2023 at 4:11 AM AKDT
In this article:
SPONF
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Uxbridge, Ontario --News Direct-- SponsorsOne Inc.
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
Contact: info@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.
