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Waterloo, Ontario / TheNewswire / January 19, 2015: SponsorsOne Inc. (CSE: SPO), (Frankfurt: 5SO) ("SponsorsOne" or the "Company"), the social commerce platform that brings elite sponsorship to the masses as a new form of digital marketing and commerce within the social economy, is pleased to provide an update with respect to certain significant shareholders of the Company. As a result of the exercise of 350,002 purchase warrants (each, a "Warrant") of the Company, each Warrant entitling the holder to acquire one common share of the Company (each, a "Common Share") at an exercise price of $0.65 on or before December 19, 2014, and the expiration of 5,483,672 Warrants (representing the balance of the Warrants) the individuals listed below now hold the securities listed below:
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-Myles Bartholomew, the President and Chief Executive Officer of the Company, held 2,916,667 Warrants. After expiry of the Warrants, Mr. Myles Bartholomew holds 5,833,333 Common Shares and 250,000 options, representing 35.75% of the currently issued and outstanding Common Shares and 36.22% on a partially diluted basis (assuming the full exercise of his 250,000 options only).
-Pilkington Capital Corporation ("Pilkington"), a corporation over which control or direction is exercised by Mr. Gary Bartholomew, the Executive Chairman of the Company, held 1,083,334 of the Warrants. After expiry of the Warrants, Pilkington now holds 2,166,667 Common Shares representing 13.28% of the currently issued and outstanding Common Shares.
-CyberNorth Ventures Inc. ("CyberNorth"), a corporation over which control or direction is exercised by Mr. Gary Bartholomew, held 333,334 Warrants. CyberNorth exercised 140,000 of the Warrants and after the subsequent expiry of the Warrants now holds 666,667 Common Shares representing 4.09% of the currently issued and outstanding Common Shares.
-Mr. Gary Bartholomew, by virtue of his control or direction over Pilkington and CyberNorth, has control or direction over 2,833,334 Common Shares representing 17.36% of the currently issued and outstanding Common Shares and 17.87% on a partially diluted basis (assuming the full exercise of his 100,000 options).
In order to facilitate the ongoing financing of the Company, Mr. Myles Bartholomew and Pilkington have entered into automatic securities disposition plans in accordance with the guidance provided in OSC Staff Notice 55-701, pursuant to which their Common Shares may be automatically sold in block trades. All trades will be reported on SEDI in the normal course. Mr. Myles Bartholomew and Pilkington intend to use the proceeds from the sale of approximately 3,466,666 Common Shares sold pursuant to these block trades to subscribe for securities of the Company in order to provide working capital to the Company. Details of these private placements will be provided prior to completion.
Mr. Myles Bartholomew, Pilkington Capital and CyberNorth Ventures acquired the Common Shares for investment purposes. In addition to as set out above, these investors may increase or decrease their position in SponsorsOne in the future as considered appropriate in light of investment criteria, market conditions and other factors and in accordance with applicable securities legislation and the terms of applicable escrow requirements. Early warning reports with additional information will be filed on and can be obtained from SEDAR at www.sedar.com.
The Company also announces that it has granted 25,000 options to a director of the Company, each option entitling the director to acquire a Common Share at an exercise price of $0.90 per Common Share on or before January 19, 2025.
For more information, please contact: Investor Relations at SponsorsOne
Phone: 1-888-948-8028 ext. 4
Twitter: @SponsorsOne
The Canadian Securities Exchange ("CSE") has neither approved nor disapproved the contents of this Press Release.
Forward-Looking Statements
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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Copyright (c) 2015 TheNewswire - All rights reserved.