Loop Insights Update Includes Wins With TELUS, University Of Houston, $412,000 Government R&D Award And Imminent OTCQB Listing, With More Anticipated Success On Immediate Horizon
VANCOUVER, British Columbia, September 21, 2020 – Loop Insights Inc. (MTRX:TSXV) (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
This news release contains certain statements which constitute forward looking statements or information, including statements regarding Loop’s business and technology; the ability of Loop to engage with industry participants to achieve its goals; the development of Loop’s technology; and the viability of Loop’s business model. 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, 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.