Loop Insights Inc. (MTRX:TSXV) (RACMF:OTCQB) (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 signing of a Letter Of Intent
(“LOI”) to acquire Passcreator, a leading European digital wallet
and mobile marketing company with Tier-1 clients such as
Mercedes-Benz and BMW. The acquisition is expected to be completed
by late January or early February 2021, subject to customary due
diligence and Exchange approvals.
Acquisition of Passcreator to Provide Loop
with Complete Control Over its Digital Wallet Pass Technology In
Anticipation of Upcoming Business Developments
Loop commenced its technology partnership with
Passcreator early in 2020 to provide Loop with the support
necessary to deliver on its anticipated first-stage developments in
the sports venue, hospitality, travel, and health industries. To
this end, on December 29, 2020, Loop Insights announced its most
successful year in Company history, including partnerships with
major telecom companies TELUS and NTT DATA.
With this proposed acquisition, Loop is taking its
partnership to the next level by both incorporating the Passcreator
team and taking full control of its Wallet pass technology in
anticipation of Loop’s next stage of significantly larger business
developments. Specifically, significant interest garnered in the UK
and European markets dictate that Loop secures and directly manages
the further development of Passcreator’s Wallet Pass platform,
which is able to deploy rapidly and at scale in up to 40
languages.
The Passcreator mobile wallet pass is built on
Android and iOS Wallet pass technology. By acquiring Passcreator,
Loop will vertically integrate its Wallet pass capabilities, as
well as, gain access to Passcreator’s clients such as BMW and
Mercedes Benz.
Loop Insights CEO, Rob Anson
stated, “In our December 29th review I stated that Loop was very
confident that significant developments would be announced in 2021
when our partners and customers returned from their holiday breaks.
With the first week of January behind us, we have good reason to
believe in the potential for significant developments in the UK and
Europe, so the time was right to now acquire Passcreator, secure
our core technology, and bring this great team into the Loop
family.”
Passcreator CEO, Mario C.G. Juhnke
stated, “We believe that the merging of two very proven technology
companies will greatly accelerate further development and
synergistic growth. Furthermore, the bridging of the markets of
both Loop and Passcreator will serve to improve market resiliency
and bolster confidence in the future.”
Completion of the Transaction is subject to
customary items, including satisfactory due diligence by both
parties, completion of definitive agreements in respect of the
Transaction and exchange approval, if required. The Transaction is
expected to be structured as an “Expedited Acquisition” under the
policies of the TSX Venture Exchange (the “TSXV”).
No finder’s fee is expected to be paid in connection with the
Transaction and no new directors of officers will be added to the
board and management of Loop in connection of the Transaction. The
closing of the Transaction, which is subject to several conditions,
is expected to be completed by late January or early February
2021.
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 Passcreator
Passcreator is a brand of mediahelden GmbH. Our
goal is to offer state of the art mobile marketing with modern
technology. First and foremost we do this by distributing mobile
wallet passes to the wallet apps on iOS or Android. Our particular
strength lies in the fact that we integrate into existing
processes. Passcreator is used by various market leaders worldwide
in a variety of markets and industries, predominantly in the white
label version. Passcreator has been on the market since 2012, which
makes us one of the most experienced market participants.
About Loop
Loop 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 and sold through
the TELUS IoT Marketplace.
For more information, please
contact:
Loop Insights Inc. |
LOOP Website: www.loopinsights.ai |
Rob Anson, CEO |
Facebook: @ LoopInsights |
T : +1 877-754-5336 Ext. 4 |
Twitter: @ LoopInsights |
E: ir@loopinsights.ai |
LinkedIn: @ LoopInsights |
Cautionary Disclaimers
This news release shall not constitute an offer to
sell or the solicitation of an offer to buy any securities in any
jurisdiction. Any securities referred to herein have not been, nor
will they be, registered under the United States Securities Act of
1933, as amended, and may not be offered or sold in the United
States or to a U.S. Person absent registration or an applicable
exemption from the registration requirements of the United States
Securities Act of 1933, as amended, and applicable state securities
laws.
Notice Regarding Forward-Looking
Statements
Certain statements in this news release related to
the Company are forward-looking statements and are prospective in
nature. Forward-looking statements are not based on historical
facts, but rather on current expectations and projections about
future events, and are therefore subject to risks and uncertainties
which could cause actual results to differ materially from the
future results expressed or implied by the forward-looking
statements. These statements generally can be identified by the use
of forward-looking words such as "may", "should", "could",
"intend", "estimate", "plan", "anticipate", "expect", "believe" or
"continue", or the negative thereof or similar variations.
Forward-looking statements in this news release include statements
regarding the closing of the Transaction; the receipt of
conditional approval from the TSX Venture Exchange; the expectation
that closing will occur shortly after TSX approval; the expectation
that due diligence will be completed and no material deficiencies
will be identified; that the parties will enter into definitive
agreements with respect to the Transaction on terms acceptable to
all parties; post-closing objectives of Loop for the Passcreator
brand and business; the expectation of additional revenues to Loop
post-closing; the expectation that Passcreator revenues may
continue to grow as expected; that the Transaction may position
Loop for future growth through additional strategic acquisitions;
and that the founders of Passcreator will assist Loop with the
transition of operations post-closing and will use best efforts to
act as management for Passcreator post-closing in accordance with
new employment agreements entered into with them. There are
numerous risks and uncertainties that could cause actual results
and Loop’s plans and objectives to differ materially from those
expressed in the forward-looking information, including (i)
inability to close the Transaction for any reason; (ii) COVID-19
risks; (iii) difficulties and delays associated with integrating
and growing the Passcreator business post-closing; (iv) risks
inherent in the online marketing software and technology industries
in general; (v) other factors beyond the control of the Company;
and (vi) risks outlined in Loop’s publicly filed documents
available on SEDAR. Actual results and future events could differ
materially from those anticipated in such information. These and
all subsequent written and oral forward-looking information are
based on estimates and opinions of management on the dates they are
made and are expressly qualified in their entirety by this notice.
Except as required by law, the Company does not intend to update
these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Loop Insights (TSXV:MTRX)
Gráfica de Acción Histórica
De Dic 2024 a Ene 2025
Loop Insights (TSXV:MTRX)
Gráfica de Acción Histórica
De Ene 2024 a Ene 2025