VANCOUVER, BC, January 22, 2021 — Loop Insights Inc. (MTRX:TSXV OTCQB:RACMF) (the “Company” or “Loop”), a provider of contactless solutions and artificial intelligence (“AI”) to drive real-time insights, enhanced customer engagement, and automated venue tracing to the brick and mortar space, is pleased to announce the Company has been selected by bdG Sports to provide its complete venue management platform to the Paiute Las Vegas Championship, a Korn Ferry Tour event, which will be played April 12-18, 2021 at the Las Vegas Paiute Golf Resort.
KORN FERRY FEATURES OVER 20 TOURNAMENTS IN 2021 AS DEVELOPMENT TOUR FOR PGA TOUR
The Korn Ferry Tour is the developmental tour for the U.S.-based PGA Tour and features professional golfers who have either not yet reached the PGA Tour, or who have done so but then failed to win enough FedEx Cup points to stay at that level. Since the 2013 season, the Korn Ferry Tour has been the primary pathway for those seeking to earn their PGA Tour card.
The tournament will have a full field of 156 players who will compete for a $600,000 purse. More importantly, participants will be competing in a season-long points race with the Top 25 finishers of the regular season earning PGA TOUR cards for the 2021-22 season. Local members of the Tour include Harry Hall, David Lipsky, Taylor Montgomery, and John Oda.
The implementation of Loop’s venue management platform at the Paiute Las Vegas Championship is another significant vote of confidence from the professional sports world following the successful deployment of our venue management platform at multiple live events.
bdG Sports CEO, Brooks Downing stated, “By incorporating Loop and its services as a key element of our event management structure, we were successful in completing our NCAA basketball tournaments despite a global pandemic that had crippled our industry. So without question, having a chance to launch a new opportunity with the Korn Ferry Tour meant reloading our event management team with the power of Loop so we can ensure that we are successful in both protecting our participants as well as maximizing our marketing efforts.”
Loop has established a testing partnership with Empower Clinics (CBDT:CSE) (EPWCF:OTC) (8EC:FRA) to provide the company with safe and reliable COVID-19 testing at the Championship.
Loop Insights CEO Rob Anson stated: “Loop Insights is proud to once again be selected as the venue management provider for bdG Sports and the Paiute Las Vegas Golf Championship. The multiple successful deployments of our venue management platform at major sporting events over the last three months demonstrate our global leadership ability to secure any venue through our complete end-to-end venue management solution. The scope of the Paiute Las Vegas Championship will again demonstrate the strength and scalability of our platform. We look forward to working with bdG Sports once again to protect all participants and attendees.”
EVENT REVENUE MODEL AND LAS VEGAS ECONOMIC IMPACT
Loop Insights will earn revenue from an event license fee, as well, per-user fees for all persons involved in the event including event staff, officials, players, fans, and media who will receive an all-access pass.
Loop’s Wallet pass creates a direct communication channel with attendees, allowing Loop to send personalized promotions and marketing opportunities directly to users’ mobile phones in partnership with tournament partners including sponsors, brands, merchants, and retailers. Utilizing the Wallet Pass Technology, Loop will onboard fans, competitors, coaches, and staff (“attendees”) to:
- Earn revenue through all transactions made via the Company’s venue management platform.
- Drive revenue share opportunities through Loop’s affiliate marketing agreement with Impact Radius, which was signed on November 18th, 2020.
In the bdG press release announcing the Championship, Jeff Reid, General Manager at the Las Vegas Paiute Golf Resort stated “We are glad that we are in position to host the Korn Ferry Tour during these uncertain times while bringing much needed economic impact to Las Vegas, as well as to help continue to grow the game of golf. This will be a win-win for all involved.”
In a featured story on AWS Amazon titled “Restarting the Travel and Hospitality Industry: An AI-powered Solution”, Loop CEO Anson further added:
“Since the onset of the pandemic, we’ve been working with AWS to develop a solution that will allow for a safe reopening of the economy, particularly within the travel and hospitality industry. Our customers in the industry are looking to maintain a safe and secure environment to welcome back their guests. Operators dependent on large crowds, including hoteliers hosting business travelers for conferences or other large events, face greater challenges. Although hotels have adapted to follow stringent health and safety measures, continued technological innovation is needed to further reduce occupancy limitations and host large groups again.”
LOOP HISTORY OF DELIVERING WORLD’S FIRST EVER VENUE BUBBLES IN A LIVE ENVIRONMENT
On October 8th, 2020 Loop announced it was selected as the Premier Venue Tracing and Fan Engagement Solution for NCAA College Basketball #VegasBubble in Las Vegas, where games are being played at MGM Grand Garden Arena, Mandalay Bay Events Center, and T-Mobile Arena between November 25 and December 22, 2020.
On November 9th, 2020 Loop announced it would Implement the First-Ever Fully Integrated “Venue Bubble” ( End-To-End Testing, Contact Tracing, and Alert Notifications) at the #BeachBubble NCAA College Basketball Tournament in Fort Myers, Florida, hosting 14 NCAA Division I men’s and women’s basketball teams in November and December that were playing at both Hertz Arena and Alico Arena (FGCU) while lodging at the Hyatt Regency.
On December 1st, 2020 Loop announced achieving 100% success in delivering the first-ever fully integrated “Venue Bubble” in live environments at both NCAA College Basketball Tournaments. In total, Loop provided 14 check-in locations that traced over 550 athletes, coaches, and staff members at the two tournaments. Live demonstrations of the Venue Bubbles lead to significant discussions about some of North America’s largest sporting events in 2021, with additional events to be announced.
On January 8, 2021, Loop announced it was selected by bdG Sports to provide its venue management platform to the Big West Conference Men’s and Women’s Basketball Championships being held March 9-13, 2021 at the Mandalay Bay Events Center in Las Vegas.
Following the success of the first-ever venue bubble, Loop Insights has been engaged in discussions with professional sports teams, global hospitality companies, travel groups, airlines, and event hosts in search of a solution to enable the safe resumption of their operations and ensure their long-term viability and sustainability. The success of Loop’s first-ever venue bubble is directly responsible for bdG’s continued interest in deploying Loop’s venue management platform.
EXTENDING VENUE BUBBLES TO FILM AND TRAVEL
On October 19th Loop Insights and Empower Clinics announced the combination of their respective Venue Tracing and COVID-19 testing expertise to create the first-ever “Travel Bubble” solution for the global travel industry. Subsequently, on December 9th Loop and Empower partnered with SimpliFlying, the world’s leading aviation marketing consulting firm, to support specific near-term opportunities with World Renown Resorts, National Tourism Boards, Major Airlines, Airports, Cruise Ships, and Ports.
On December 14th Loop Insights expanded its venue bubble platform to create a “film bubble”, in partnership with Draganfly’s “Safe Set” solution, for an upcoming major motion picture (“MMP1”) that is scheduled to commence filming in January 2021. The name of the film and the starring actors will remain confidential until the commencement of filming.
This Press Release Is Available On The Loop Insights Verified Forum On AGORACOM For Shareholder Discussion And Management Engagement https://agoracom.com/ir/LoopInsights/forums/discussion
About bdG Sports
bdG Sports is a representation, event management, and public relations firm operating on an international platform within the sports marketing industry. bdG manages multiple college basketball and college hockey events in the United States each season with events in Southwest Florida, Las Vegas, and The Bahamas. bdG’s golf division manages the season-opening tournaments of the Korn Ferry Tour each January in The Bahamas, hosts premium Pro-Ams throughout the year and launched the Unbridled Tour mini-tour series in 2020. For more information, visit www.bdglobalsports.com or follow on @bdGlobalSports on Twitter, Facebook, or Instagram.
About Loop Insights
Loop Insights Inc. is a Vancouver-based Internet of Things (“IoT”) technology company that delivers transformative artificial intelligence (“AI”) automated marketing, venue 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.
Loop Insights Inc.
Forward Looking Statements/Information:
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.
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