VANCOUVER, BC, Sept. 28, 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, enhanced customer engagement, and automated contact
tracing to the brick and mortar space, is pleased to announce the
signing of a short form agreement to grant Austin, TX based startup CasaPerks LLC
("CasaPerks") a non-exclusive license to use various aspects of
Loop's technology in return for
$1,930,000 in cash and
shares.
CASAPERKS SOLUTION FOR THE PROPTECH MARKET COMBINED WITH
LOOP ARTIFICIAL INTELLIGENCE
CREATES POWERFUL, DISRUPTIVE OFFERING
CasaPerks is a property technology, or "proptech", startup from
Austin, Texas. Proptech is a very
fast-growing space and CasaPerks is on its cutting edge, creating a
multi-pronged solution specifically for the commercial real estate
industry. For the property operator, CasaPerks will help drive
revenues and significantly reduce costs, while for the resident it
will greatly enhance the overall living experience.
As part of this multi-pronged approach, CasaPerks will provide
both reward (i.e points) and fintech layers (i.e. car payments)
that will require the artificial intelligence capabilities of
Loop to optimize and maximize a
target market that includes 79.5 million renters in 14.1 million
units. Loop Technologies included in the license are as
follows:
- AI Data Insights Portal;
- Smartapp Check-in technology;
- Digital Wallet Pass Technology
Loop Insights CEO Rob Anson
stated, "I am very excited about the path and direction of
CasaPerks, which is led by Kevin
Bradt, whose track record of success speaks for itself.
CasaPerks' major disruptive strategy, which now creates a return on
rental investment, is a major paradigm shift in the entire sector's
core value proposition. Combined with our AI & Big Data
Solutions, CasaPerks' loyalty rewards and Fintech will result in a
very powerful product offering. COVID-19 has accelerated the
necessity for mobile commerce in every vertical, and CasaPerks is
now set to quickly become the new standard for the
industry."
DISRUPTIVE OFFERING PROVIDES MASSIVE POTENTIAL UPSIDE AS
"PROPTECH" GROWS UNDER COVID-19
The last couple of years have seen the emergence of proptech,
which is applying information technology and platform economics to
streamline and modernize the cumbersome process of browsing,
building, and transacting in real estate.
In 2019 alone, upwards of $16 billion
USD in venture capital flowed into proptech startups
(according to data from Crunchbase and Pitchbook), clearly
demonstrating that VC's "are turning to proptech for
returns and disruption on a global scale".
The advent of COVD-19 has only further accelerated the need for
proptech applications from Hedge Funds, Pension Funds and owners
who have seen significant disruption in their investments and look
to new revenue models and opportunities.
LICENSING AGREEMENT CREATES "A.I. PROPTECH" FOR GLOBAL
SCALE
The CasaPerks platform infused with Loop Insights technology
represents the dawn of Artificially Intelligent property technology
that delivers an entirely new experience to users while providing
investors and owners with multiple areas to create value.
Moreover, the offering will provide major brands with
unparalleled data and direct access to the CasaPerks user base,
including renowned brands in grocery, finance, fast food, internet,
and entertainment.
The combination of CasaPerks and Loop is expected to create lucrative revenue
models based on known user profiles thanks to robust granular
insights based on real-time engagement, spend and future needs,
leading to significant impacts on:
- ARPU Average Revenue Per User
- ARPL Average Revenue Per Location
Kevin Bradt, CEO of CasaPerks,
stated, "Our strategy at CasaPerks is to build a robust platform
with best-in-class partnerships throughout our entire ecosystem.
Loop's technology is very
impressive and provides us with significant additional layers to
our core technology that will prove to be extremely valuable. Our
vision is to expand CasaPerks from a regional offering to a
national footprint and then eventually achieving global
scale."
TERMS OF THE AGREEMENT
The following are the material terms of the agreement between
Loop and Casa Perks:
Loop will license the following
Loop technology:
- AI Data Insights Portal;
- Smartapp Check-in technology;
- Digital Wallet Pass Technology
In exchange for the license, Loop will receive a total value of
$1,930,000 USD in a combination of
both:
- Cash $250,000
- Stock $1,680,000 (6,720,000
shares X $0.25/share)
Both parties have agreed to a 60-day closing period for a
definitive agreement, the terms of which are subject to
Loop Board of Directors
Approval.
This Press Release Is Available On The Loop Insights Verified
Forum On AGORACOM For Shareholder Discussion and
Q&A at:
https://agoracom.com/ir/LoopInsights/forums/discussion
About CasaPerks: CasaPerks is changing the way people
choose and enjoy apartments. The company is in the fast-growing
property technology, or "proptech", sector serving the multifamily
industry. Its multi-pronged platform includes an innovative rewards
and concierge suite that offers multifamily owners and operators
the opportunity to build tailor-made customer attraction,
activation, and retention programs. CasaPerks is headquartered in
Austin, TX. For more information,
visit www.casaperks.com.
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. Loop's products and services are backed by
Amazon's Partner Network.
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.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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SOURCE LOOP Insights Inc.