(TheNewswire)
Waterloo, O N - TheNewswire - April 27, 2023 - SponsorsOne Brands Inc., (CSE:SPO) (Frankfurt:5SO), (OTC:SPONF). SponsorsOne Inc. (“ SPO ” or the“ Company ”) today announced that it will notmeet the following filing deadlines:
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Audited Annual Financial Statements and ManagementDiscussion and Analysis for the year ended December 31, 2022 due on orbefore May 1, 2023 (the “Annual Filings”);
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Management prepared Financial Statements and ManagementDiscussion and Analysis for the quarter ended March 31, 2023 due onor before May 30 2023 (the “Q1 Filings”); and
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CEO and CFO certificates relating thereto;
SPO does not expect to be able to meet these filingdeadlines but its internal audit work has commenced and it nowexpects to complete the Annual Filings by July3, 2023 and the Q1 filings by July 31, 2023.
Financial conditions and auditor availability impactedthe Corporations ability to prepare for, and pay for, its AnnualFinancial Statements and Annual MD&A.
SPO made an application to the Ontario SecuritiesCommission to approve a temporary management cease trade order("MCTO") under NP 12-203, which was denied.
Other than as previously disclosed and the contentshereof, there is no material information of the Corporation which hasnot been disclosed by timely press releases.
About SponsorsOne Brands Inc.
SponsorsOne is the leader in the next evolution ofbrand creation and digital marketing through influencer marketing,storytelling, and digital commerce with the SponsorCoin platform andits highly scalable – smart contract-based digital currency.SponsorCoin allows brands to build and manage exclusive and highlyengaged communities of salespeople and marketers within the socialrealm. The SponsorCoin platform provides data-driven marketingcampaigns that will change how brands connect with their customers.SponsorCoin is a tool for brands to inspire real movements aroundtheir products and services. Their most valuable customers becometheir best salespeople, producing far higher ROI than current socialmedia advertising methods. SponsorsOne's wholly-owned subsidiary S1Brands Inc., builds wholesale/retail distribution channels for ourinternal Brands, acting as a master distributor. S1 Brands providessales and marketing on behalf of the Brand to its vast network ofnational wholesalers and retailers and provides purchase orderfinancing to assist the Brand in fulfilling every order. PremierBeverage Consortium Inc. is a wholly-owned subsidiary and isbrand-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 HempSmokes market by launching multiple premium products such as PrimeroHemp Smokes and Suede Hemp Smokes. Ownership of the Brand,distribution, digital marketing innovation, and capital is the winningformula for building the next billion-dollar Brand. To learn more,please visit www.sponsorsone.com
Contact: info@sponsorsone.com
Phone: 1-833-SPONSR1 (776-6771) or local:1-289-846-3703
ON BEHALF OF THE BOARD
Gary Bartholomew, Executive Chairman
The Canadian Securities Exchange ("CSE") hasneither approved nor disapproved the contents of this Press Release.
Forward-Looking Statements
This news release contains forward-looking statementsand 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 thenegative of these words or such variations thereon or comparableterminology, are intended to identify forward-looking statements andinformation. Such statements and information reflect the current viewof the Company with respect to risks and uncertainties that may causeactual results to differ materially from those contemplated in thoseforward-looking statements and information.
By their nature, forward-looking statements involveknown and unknown risks, uncertainties, and other factors which maycause actual results, performance or achievements, or other futureevents to be materially different from any future results,performance, or achievements expressed or implied by suchforward-looking statements. Such factors include, among others, thefollowing risks: risks associated with the marketing and sale ofsecurities the need for additional financing requirements and accessto capital, reliance on key personnel the potential for conflicts ofinterest among certain officers or directors with certain otherprojects the volatility of the volume and price of the Common Shares,the failure of the business strategy, the integrity of the Company'spatents and proprietary intellectual property, and competition.
The Company cautions that the foregoing list of riskfactors is not exhaustive and is subject to change, and there can beno assurance that such assumptions will reflect the actual outcome ofsuch items or factors. When relying on the Company's forward-lookingstatements and information to make decisions, investors and othersshould carefully consider the foregoing factors and otheruncertainties and potential events, including the risk factors set outin the Company's Listing Statement. The Company has assumed a certainprogression, which may not be realized. It has also assumed that thematerial factors referred to above will not cause such forward-lookingstatements and information to differ materially from actual results orevents.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWSRELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OFTHIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCHDATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKINGINFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHERDATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATETHIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED INACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.
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