VANCOUVER, BC / ACCESSWIRE / September 16, 2019 / LOOP Insights Inc. (TSX.V: MTRX) (the 'Company" or 'Loop") is pleased to announce that it has acquired the IP (the "Agreement") of Uklipz Digital Media Inc. ("Uklipz"), a company whose mission is to disrupt the consumer review industry by simplifying the process of sourcing, creating, curating and licensing authentic customer reviews, which is beneficial for both brands and consumers. Uklipz will be used by Loop to enhance the Company's solution stack in multiple ongoing conversations with Loop's current and potential customers.
Rob Anson, Loop's President & CEO, comments: "The Uklipz acquisition was an important strategic move for the Company as it provides another immediate complimentary plug-in to expand the current Loop solution offering. We have already begun exploring opportunities for white labelling as well as licensing Uklipz to other companies, and the response has been very strong. We believe Uklipz will be a very significant stream of revenue and a very valuable asset for Loop's shareholders."
Reviews have become the cornerstone of all e-commerce platforms: consumers rely on reviews when making their purchase decisions while also wanting a say in how some of those products are shaped; and brands are looking to engage with consumers one-on-one to get a real-time feedback. Uklipz helps bridge this gap. The platform becomes a key tool for any web and mobile commerce platforms in their goal to engage more customers and brands.
Terms of the Deal
Three Hundred and Fifty Thousand Dollars ($350,000.00) payable on the Closing Date by way of the issuance of Three Hundred and Fifty Thousand (350,000) common shares in the capital stock of the Purchaser at $1.00 per common share inclusive of any and all sales taxes which may be applicable to the purchase.
Uklipz vision is to build a global brand as the premier, trusted source of authentic, user-generated reviews using technology that allows anyone with a smart phone to create, post and monetize video reviews. Uklipz revolutionizes digital brand and marketing assets by offering a direct and highly personalized feedback loop. With Uklipz, customers are literally at your fingertips. Brands gain an ability to engage directly with consumers in the heat of the moment, both in store and online.
LOOP Insights Inc. (TSX.V: MTRX) is a Vancouver-based technology company that has developed a unique automated AI marketing platform intended to level the playing field for brick and mortar retailers in their battle with online digital competition. LOOP gives brands and retailers the capability to inter-connect their physical and digital ecosystems by using the device that can be plugged into any point of sale environment, independent of hardware or IT networks, thus enabling rapid deployment and global scale. Retailers and brands benefit from making real-time, data-driven decisions that help them curate unique personalized customer experiences in stores, a capability which previously did not exist.
For more information, please contact:
LOOP Insights Inc.
CHF Capital Markets
LOOP Website: www.loopinsights.ai
Soy Garipoglu, Manager, IR
Cathy Hume, CEO
T: 416-868-1079 x 231
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.
SOURCE: LOOP Insights Inc.
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