WATERLOO, ON / ACCESSWIRE / November 4, 2019 / SponsorsOne Inc., (CSE:SPO)(OTCPINK:SPONF pending)(Frankfurt: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 completed its previously announced acquisition of Verve Beverage Company ('Verve').
SPO previously announced the acquisition of Verve which was originally to be completed by the issuance of 66,000,000 common shares of SPO in exchange for all of the issued and outstanding common shares of Verve. SPO is pleased to announce that it has re-structured, and closed the Acquisition, giving rise to the issuance of 47,000,000 common shares of SPO in exchange for all of the issued and outstanding common shares of Verve. The Acquisition is now closed.
In addition, SPO continues its non-brokered private placement (the 'Private Placement') of up to 20,000,000 commons shares at a price of $0.05 per common share with an overallotment option of up to an additional 10,000,000 common shares at $0.05 per common share. Such placement may include debt settlement of creditors under the same terms.
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 plans to implement a 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.
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.
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- 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.
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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: SponsorsOne Inc.
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