VANCOUVER, British Columbia, May 20, 2021 – Loop Insights Inc. (MTRX:TSXV) (RACMF:OTCQB) (the “Company” or “Loop”), a global leader in providing real-time data analytics through artificial intelligence to drive customer activation and engagement, is pleased to provide shareholders with the following corporate update reviewing significant positive results in all aspects of the Company.
Loop CEO Rob Anson states “2021 continues to be a transformative year for our company, with major deals already announced with the likes of NielsenIQ, Oracle, All Net and many others in advanced stages of negotiation thanks to our growing position as the leader in real-time data analytics. Moreover, we have announced major pilot programs with national powerhouses such as Sobeys, Certas and Pharmassist, which are going exceedingly well and, in combination with our major partners, leading to many more such opportunities. Given the magnitude of these names, Loop’s reputation at the highest levels of global commerce now precedes itself and the stage has now been set for us to accelerate growth and execution across all our core markets on a global scale this year. In conjunction with over $3,000,000 received from recent warrant exercises and a stronger balance sheet due to reduced debt, Loop has never been stronger than it is today and we will be in a position to demonstrate that to our shareholders before the end of the second quarter.”
WARRANT EXERCISES IN EXCESS OF $3,000,000 DEMONSTRATE CONTINUING STRONG SHAREHOLDER SUPPORT AS LOOP SIGNIFICANTLY OUTPERFORMS TSX VENTURE INDEX
Despite significant weakness in the capital markets over the past three months, Loop has been able to successfully increase its market capitalization and see our share price return to January levels while significantly outperforming the TSX Venture Composite Index over the most recent 3-month period by approximately 34.3% (https://money.tmx.com/en/advanced-chart/MTRX)
As a result of this performance, Loop continues to receive strong shareholder support and confidence as demonstrated by the most recent receipt of over $3,000,000 from exercised warrants at the $1.50 level.
LOOP ON TRACK WITH PLAN TO UPLIST TO MAJOR EXCHANGES BY THIRD QUARTER
On December 7, 2020 Loop announced its intentions to uplist to the Toronto Stock Exchange and, if successful, its intentions to apply for listing on the NASDAQ. Given the Company’s continued success with world-renowned technology giants and the inevitable need for significantly greater capital markets visibility, Loop is pleased to advise shareholders that we continue to work through the checklist of requirements and processes to achieve our uplisting goals this coming fall.
SIGNIFICANT STRATEGIC ALLIANCES AND 3RD PARTY VALIDATION HIGHLIGHTED BY NIELSENIQ ANNOUNCEMENT. ORACLE & THE COUPON BUREAU INTEGRATIONS
On April 29th, Loop announced an extremely significant strategic alliance with NielsenIQ that will completely transform the retail sector with the addition of Loop’s real time capabilities solving the data challenges of many existing and prospective NielsenIQ customers. NielsenIQ has already presented a target list of several large retail and convenience chains with a significant pain point around the lack of real-time data and lack of visibility into their franchise outlets that will be introduced to Loop starting in June.
On April 22nd, Loop announced another significant partnership, this time with Oracle, the second largest POS vendor in the world. Being accepted into the Oracle Partner Network demonstrates world-class recognition of Loop’s leadership position in the retail industry, coming on top of existing agreements with Vend, Shopify, and VenueNext. Our Oracle partnership represents a significant revenue opportunity for Loop as a result of gaining access to Oracle’s client base in need of Loop’s real-time, multi-location reporting, and cross-channel marketing opportunities.
And on May 18th, Loop announced an integration with The Coupon Bureau (TCB), which holds the potential to be one of the most significant integrations in the company’s history as indicated by the inbound interest created within hours of the announcement. TCB is developing the next-generation coupon standard which, when combined with Loop’s Wallet pass technology, will provide consumers with the long-awaited capability of redeeming coupons safely and securely directly from their mobile phones. To this end, TCB has already introduced Loop to some of the world’s biggest Consumer Packaged Goods (CPG) manufacturers and retailers to discuss significant business development opportunities. Loop expects to announce more news from this initiative in very short order.
MULTIPLE PILOT PROJECTS NOW ADVANCING TOWARDS COMMERCIAL TERMS
As previously reported, our pilot projects in the UK were initially delayed due to the country being completely shut down as a result of Covid-19. The earlier stage pilots listed below have now been successfully implemented and we are happy to report these pilot projects have been a very big success to date with extremely positive responses and reviews. To this end, we have actually expanded the technology and applications with broader deployments and broader expansion of capabilities, with expanded commercial terms now in negotiations.
Pharmassist January 14, 2021
Maplin February 4, 2021
Certas May 4, 2021
The Sobeys Pilot Agreement announced on March 18 is progressing so well that we are now working with the Sobeys leadership tech team to build custom solutions for an improved in-store customer experience utilizing Loop’s digital receipt platform and Wallet pass technology. To this end, Loop has already completed significant additional integration work to ensure a seamless rollout of the additional functionality, which is expected to include a further pilot phase in live stores. Assuming a successful pilot of the additional functionality, it is the expectation of both parties that we will enter into an agreement for a full rollout across the entire chain, the terms of which are already being explored.
TELUS PARTNERSHIP EXPECTED TO STRENGTHEN ON A NATIONAL LEVEL IN THE VERY NEAR FUTURE
Loop has been working closely with TELUS over the last year to strengthen and expand the scope of our relationship. The In-store Pilot was initially delayed due to COVID shutdowns but implementation has taken place and the Fobi devices are currently collecting and parsing data insights and analytics in select TELUS retail locations.
The TELUS Marketplace has seen early success with the Big White Ski Resort deal being the highlight, however, we are working closely with their National Sales Team on multiple larger opportunities as Canada’s economy prepares to reopen.
Loop also has several new exciting opportunities within the TELUS partnership under way, including exploring new ways for TELUS to leverage some of Loop’s real time data products in their core business, as well as our Wallet pass platform. Moreover, at a much higher level, we are in very advanced discussions with respect to leveraging the power and reach of the TELUS team to accelerate sales opportunities in their B2B channel. We anticipate significant news on this front in the very near future.
SUCCESSFUL ACQUISITION OF PASSCREATOR DRIVES ACCELERATED GROWTH AND THE REALIZATION OF SIGNIFICANT REVENUE
Loop has also finalized the acquisition of Passcreator, a leading European digital wallet and mobile marketing company with Tier-1 clients such as Mercedes-Benz and BMW. The $2,000,000 acquisition of Passcreator and the mobile customer and fan engagement it makes possible is another key piece of the total solution that Loop provides to their clients. This acquisition will provide Loop with complete control over its Wallet pass technology which will help to drive multiple upcoming major business developments. Loop also gains access to Passcreator’s clients such as BMW and Mercedes Benz and can resell other Loop products and services to them. Passcreator has issued over 8 million passes through March 31, 2021, with 491 companies currently Passcreator clients, up from 200 in 2020.
Further acquisitions are also being discussed which would continue to strengthen the company’s business development activities.
CONTINUED STRENGTHENING OF THE SENIOR MANAGEMENT TEAM AND GROWTH OF THE ENGINEERING TEAM
Loop has significantly strengthened its Senior Management Team in the first quarter of this year with the addition of Tamer Shafiq as CTO and Ian Cameron as VP of Marketing. Having led teams at much larger organizations, both made the decision to move to Loop to help execute on the vision of the CEO, Rob Anson. As part of Tamer’s new remit as Loop CTO, there has been huge growth on the Engineering team to deliver the requirements of all new Enterprise customers and prospects. On the Marketing side, Ian is working to reposition Loop as an Enterprise brand, and strengthen Loop’s brand awareness and business development opportunities.
In summary, Loop has experienced significant growth year to date in 2021 on all business, balance sheet and capital markets fronts. Though we are satisfied with this progress, it is not an understatement to say that our biggest successes are still in front of us and we expect to deliver them to shareholders beginning this quarter and continuing throughout the remainder of 2021.
For more information, please contact:
Loop Insights Inc.
LinkedIn: @LoopInsights Cautionary Disclaimers
This news release contains certain statements that 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) accept responsibility for the adequacy or accuracy of this release.