Waterloo, Ontario – TheNewswire – August 29, 2022 – SponsorsOne Inc., (CSE:SPO) (Frankfurt:5SO), (OTC:SPONF), a company that utilizes its proprietary platform that combines direct to consumer digital marketing with wholesale and retail distribution in the rapidly growing Spirits, Functional Beverage, and Hemp Sectors announces certain regulatory filings.
As a result of a continuous disclosure review conducted by Staff of the Ontario Securities Commission (“OSC”), the Company has enhanced disclosure within this Management Discussion and analysis (“MD&A”) relating to, among other things, COVID-19 impacts, current projects of the Company and their status, overall performance, and discussions of operations, including our SponsorCoin Platform and the Hemp products and Vitamin Shots marketplace and the Ready to Drink (“RTD”) spirits and premium spirits, transactions between related parties, and liquidity and cash resources. The Company has also enhanced its disclosure regarding the regulatory framework relating to regulated Hemp and Alcohol products in each jurisdiction where the Company operates. The noted deficiencies and request for enhanced disclosure raised to us by the OSC relate to previously filed MD&A’s for the financial period ending March 31, 2022 and financial year ended December 31, 2021. The Company included such disclosure within this MD&A and will continue to include such disclosure in subsequent reporting periods.
SPO has filed a material change report regarding the appointment of Charles Sung as the CFO on March 9, 2022. In addition, SPO has amended and refiled its March 31, 2022 and December 31, 2021 Management Discussion and Analysis to address certain comments from the OSC.
About SponsorsOne 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 LLC 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.
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