Adcore Announces New Contracts for Aggregated Estimated Annual Ad-Budget of CAD$4.9M; Almost Half Originating from North America

Rhea-AI Summary

Adcore Inc. (TSX:ADCO)(OTCQX:ADCOF) announced the signing of fourteen new clients in November and December 2021, with an aggregated estimated annual advertising budget of CAD$4.9M. The new clients span North America, EMEA, AUNZ, and Greater China. CEO Omri Brill highlighted the achievement of increasing client acquisitions during traditionally slower months. Approximately half of these budgets come from U.S. businesses, marking a key growth area for Adcore in 2022. The company emphasizes its focus on global expansion and anticipates a strong start for the year.

Positive

• Signed 14 new clients with an estimated annual ad budget of CAD$4.9M.
• Client acquisition increased during traditionally slower November-December period.
• Almost half of the new clients' budgets come from U.S. businesses.
• Strong global expansion efforts set a foundation for growth in 2022.

Negative

• None.

TORONTO, ON / ACCESSWIRE / January 5, 2022 / Adcore Inc. (the "Company" or "Adcore") (TSX:ADCO)(OTCQX:ADCOF)(FSE:ADQ)(TSX:ADCO.WT), a leading e-commerce advertising management and automation platform to leverage digital marketing in an effortless and accessible way ("Effortless Marketing"), today announced that during November and December 2021 the Company signed fourteen new clients across four of its main regions: North America, EMEA, AUNZ and Greater China, for an aggregated estimated annual advertising budget of CAD$4.9M.

Adcore will provide a wide range of its proprietary technologies and services across all marketing channels to develop and enhance the growth of its newly acquired clients. The Company's local teams in North America, EMEA, AUNZ and Greater China will manage the digital marketing activities of these clients.

Omri Brill, Founder and CEO of Adcore, commented, "We are very pleased to see such strong ongoing momentum in our acquisition efforts. The fact that we were able not only to maintain, but increase our acquisition levels during the November-December time period, traditionally weaker months for B2B acquisition due to the holidays, is an amazing achievement by itself. Moreover, almost half of the projected digital advertising budgets of these new clients originates from U.S. based businesses, a market we have previously announced to be one of our key growth drivers in 2022 and beyond. The Company's continuous global expansion efforts, with an emphasis on North America, led to a record fourth quarter in new client acquisition, and set the foundation for a strong start of 2022."

ABOUT ADCORE

Adcore is empowering entrepreneurs, advertisers, and the future of e-commerce through its advertising management and automation platform. By combining extensive industry knowledge and experience with its proprietary artificial intelligence engine, Adcore offers a unique digital marketing solution that empowers entrepreneurs and advertisers by managing and automating their e-commerce store advertising and monitoring and analyzing the performance of their advertising budget to ensure maximum Return on Investment. In addition to being named numerous times on Deloitte's Fast 50 Technology list, Adcore is a certified Google Premier Partner, Microsoft Partner, Facebook Partner and TikTok Partner.

Established in 2006, the Company employs over fifty people in its headquarters in Tel Aviv, Israel and satellite offices in Toronto, Canada, Melbourne, Australia, Hong Kong and Shanghai, China.

For more information about Adcore, please visit https://www.adcore.com/investors/

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements, including statements about the Company and the estimated annual advertising budgets relating to the new contracts referred to herein. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors, including, but not limited to, the actual advertising budgets relating to the new contracts referred to herein, could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

For further information please contact:

ADCORE INC.

https://www.adcore.com/investors/

Martijn van den Bemd,
GM North America
Telephone: 647-497-5337
Email: martijn@adcore.com

U.S. Investor Relations
John Nesbett/Jennifer Belodeau
IMS Investor Relations
Telephone: 203-972-9200
Email: jnesbett@imsinvestorrelations.com

SOURCE: Adcore Inc.

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FAQ

What new contracts has Adcore signed as of January 2022?

Adcore signed fourteen new clients, with an estimated annual ad budget of CAD$4.9M.

How much of the new advertising budgets come from U.S. businesses?

Approximately half of the projected advertising budgets originate from U.S.-based businesses.

What regions do the new clients of Adcore come from?

The new clients are from North America, EMEA, AUNZ, and Greater China.

What is Adcore's focus for growth in 2022?

Adcore is focusing on expansion in the U.S. market as a key growth driver.