VANCOUVER, BC, Sept. 21, 2020 /CNW/ - Loop Insights Inc. (TSXV:
MTRX) (the "Company" or "Loop"), a provider of contactless
solutions and artificial intelligence ("AI") to drive real-time
insights, automated marketing, and contact tracing to the brick and
mortar space, is pleased to provide shareholders with the following
corporate update reviewing recent significant business wins and
near term expectations. The company has been successful in
reaching many milestones across both product lines, Contact
Tracing, and Contactless Marketing, with world-renowned brands,
which have led to accelerating opportunities and contract
negotiations with potential customers of similar stature.
BUSINESS DEVELOPMENT OPPORTUNITIES EXPANDING WITH EACH
SUCCESSIVE WIN
Loop CEO Rob
Anson stated "We have long known that our
artificial intelligence driven technology stack could have a major
impact on the real-world operations of enterprise-level customers,
so it has been an incredible experience for Loop and its shareholders to begin seeing the
third-party validation as we secure deals with great partners such
as Telus, University of Houston and
others. . My message to shareholders is this is only the beginning,
with Loop receiving significant
inquiries, conducting online demonstrations and entering contract
discussions on a daily basis. Moreover, we remain laser
focussed on maximizing our potential through Tier-1 channel
resellers to help us grow even faster. As such, I can say with
great confidence that Loop is
extremely well-positioned to anticipate a very strong and
successful run for the remainder of 2020.
TELUS PARTNERSHIP IS INDICATIVE OF A GLOBAL DISTRIBUTION
STRATEGY WITH NATIONAL TELECOM PROVIDERS
On September
17th, Loop
announced an exciting successful launch with Telus, Canada's leading telecom company. This pilot
program of our real-time, artificial intelligence-driven marketing
platform launched in August and, upon successful completion, sees
expansion into Telus 550+ corporate locations, as well as, their
2,000+ B2B reseller channel. This partnership is part of
Loop's global distribution
strategy, in which the Company is already engaged in discussions
with several similar telecom providers in the US, Australia, and other regions.
CONTACT TRACING ACCELERATES WITH INQUIRIES FROM GOVERNMENTS
FOLLOWING PARTNERSHIP WITH NCAA DIV 1 UNIVERSITY OF HOUSTON
Contact Tracing continues to be a huge focus and gaining
traction throughout North America
in several verticals. The company has expanded its contactless
services and continues to engage in many large-scale opportunities
throughout North America. Areas of
interest have come from, but not limited to, Provincial and Federal
Government talks. Now that schools and sports teams are starting
back up, contact tracing needs have never been as important.
Securing University of Houston was a
huge milestone and has now sparked interest throughout many other
sports teams and schools across the US looking to restart and have
a safe return of fans to their sporting facilities. Final
negotiations are underway and the Company hopes to announce the
next roll out in the near future.
LOOP RECEIVES
$412,000 FROM FEDERAL GOVERNMENT
SR&D RESEARCH AND DEVELOPMENT PROGRAM
The company is pleased to announce that it has been awarded
$412,000 from its 2019 Scientific
Research & Experimental Development ("SR&ED") application.
In order to qualify for this program, Loop had to demonstrate it "generated
information that advances the understanding of scientific relations
or technologies or advances a certain technology or overcomes a
technological uncertainty."
This additional injection of funds further strengthens the
company's strong cash position, which positions the Company well
for future M&A opportunities.
LOOP OTCQB APPLICATION IN
FINAL STAGES IN RESPONSE TO US INVESTOR DEMAND
Over the past months, the Company has received increasing
inquiries from US-based investors who could not easily acquire
shares in Loop. As a result, the company submitted
applications to the necessary regulatory bodies and is hopeful for
final approval as early as this week, making Loop shares available for trading on the
OTCQB with full DTC eligibility.
LOOP PARTNERSHIP WITH
LEADING POS VENDOR (VEND) YIELDS IMMEDIATE RESULTS WITH NEW
CUSTOMERS
Another major milestone was the partnership with Vend, a global
point of sale supplier with over 25,000 locations in over 142
companies. Upon successful completion of the integration with
Vend, Loop has already signed
several Vend retailers including Your CBD Store, the largest
CBD brick and mortar retailer in the
United States with over 650 locations.
The Company is now in discussions on a distribution strategy
with Vend's leadership team to become a global reseller of the
Loop products which will help
accelerate Loop's potential
adoption throughout Vends global network of retailers.
As next steps in leveraging the success with Vend, the Company
has also begun an integration roll out with one of the largest
e-commerce platforms. Point of sale partners continues to be a
large focus as they are the Company's quickest path to scale while
allowing the Company to remain lean and agile.
This Press Release Is Available On The Loop Insights Verified
Forum On AGORACOM For Shareholder Discussion and
Q&A https://agoracom.com/ir/LoopInsights/forums/discussion
About Loop Insights: Loop Insights Inc. is a Vancouver-based Internet of Things ("IoT")
technology company that delivers transformative artificial
intelligence ("AI") automated marketing, contact tracing, and
contactless solutions to the brick and mortar space. Its unique IoT
device, Fobi, enables data connectivity across online and
on-premise platforms to provide real-time, detailed insights and
automated, personalized engagement. Its ability to integrate
seamlessly into existing infrastructure, and customize campaigns
according to each vertical, creates a highly scalable solution for
its prospective global clients that span industries. Loop Insights
operates in the telecom, casino gaming, sports and entertainment,
hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia.
Forward-Looking Statements/Information:
This news release contains certain statements which
constitute forward-looking statements or information. Such
forward-looking statements are subject to numerous risks and
uncertainties, some of which are beyond Loop's control, including the impact of
general economic conditions, industry conditions, and competition
from other industry participants, stock market volatility and the
ability to access sufficient capital from internal and external
sources. Although Loop believes
that the expectations in its forward-looking statements are
reasonable, they are based on factors and assumptions concerning
future events which may prove to be inaccurate. Those factors and
assumptions are based upon currently available information. Such
forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that could influence actual results
or events and cause actual results or events to differ materially
from those stated, anticipated or implied in the forward-looking
statements. As such, readers are cautioned not to place undue
reliance on the forward-looking statements, as no assurance can be
provided as to future results, levels of activity or achievements.
The forward-looking statements contained in this news release are
made as of the date of this news release and, except as required by
applicable law, Loop does not
undertake any obligation to publicly update or to revise any of the
included forward-looking statements, whether as a result of new
information, future events or otherwise. The forward-looking
statements contained in this document are expressly qualified by
this cautionary statement. Trading in the securities of
Loop should be considered highly
speculative. There can be no assurance that Loop will be able to achieve all or any of its
proposed objectives.
SOURCE LOOP Insights Inc.