Ackroo completes sale of GGGolf
Ackroo Inc. announced the sale of GGGolf, its golf course management solution, to a Quebec-based investment group. The transaction involves an upfront payment of $1,200,000 and an additional $50,000 monthly for eight months, totaling $1,600,000. The new entity, named GGGolf Technologies Inc., aims to provide comprehensive club management software. This divestiture allows Ackroo to focus on its core business of loyalty marketing and payment solutions, while strengthening its financial position.
- Received a total of $1,600,000 from the sale of GGGolf, enhancing liquidity.
- Divestiture allows Ackroo to concentrate on its primary operations and growth in loyalty marketing and payment services.
- None.
Ackroo sells GGGolf to Quebec based investment group
HAMILTON, Ontario, April 03, 2023 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (the “Company”), a loyalty marketing, payments and point-of-sale technology and services provider, is pleased to announce that its wholly-owned subsidiary, Ackroo Canada Inc., has completed the sale of all of the assets related to GGGolf, Ackroo’s golf course management solution. In consideration for the assets Ackroo received
The newly formed organization taking over the GGGolf assets will rename themselves GGGolf Technologies Inc.
About GGGolf Technologies Inc.
Founded in 2023, GGGolf Technologies Inc. is an integrated software platform that provides an end-to-end solution for club management and is represented by a group of investors who are well know in the golf industry. Those investors include:
| Shareholder Name | GGGolf Technologies Role | Experience |
| Stéphane Dubé | Président | General Manager of ACGQ |
| Christian Côté | Secretary + VP technologies | President of GTO Gestion Informatique |
| René Chaput | V.P. Finance | CPA |
| François Roy | VP Communication | Assistant Executive Director Fédération de Golf du Québec |
| Dominic Pelletier | Treasurer | President of Services Comptables D.S.N |
| Patrice Forcier | Officer | General Manager of Golf Pinegrove |
| Alexandre Geoffrion | Officer | President of OB Agence |
| Claude St-Jean | Officer | President of Climatisation Claude St-Jean |
| 9232-0571 Québec Inc. | Officer | Gilles Gauthier + Lise Beaudet - Founders of GGGolf |
| Luc Desroches | Officer | Canadian Sales Managing Director MASI Agricola |
| External Consultant – Martin Ducharme | President of Association des Clubs de Golf du Quebec and General Manager Golf of Château Bromont |
About Ackroo
Through vendor and industry consolidation, Ackroo provides marketing, payment and point-of-sale solutions for merchants of all sizes. Ackroo’s self-serve, data driven, cloud-based marketing platform helps merchants in-store and online process and manage loyalty, gift card and promotional transactions at the point of sale. Ackroo’s payment services provide merchants with low-cost payment processing options through some of the world’s largest payment technology and service providers. Ackroo’s hybrid management and point-of-sale solutions help manage and optimize the general operations for niche industries. All solutions are focused on helping to consolidate, simplify and improve the merchant marketing, payments and point-of sale ecosystem for their clients. Ackroo is headquartered in Hamilton, Ontario, Canada. For more information, visit: www.ackroo.com.
For further information, please contact:
Steve Levely
Chief Executive Officer | Ackroo
Tel: 416-360-5619 x730
Email: slevely@ackroo.com
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither 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.
Forward Looking Statements
This release contains forecasts and forward-looking statements that are not guarantees of future performance and activities and are subject to risks and uncertainties. The Company has based these forward-looking statements on assumptions and assessments made by its management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, but are not limited to: the Company’s ability to raise enough capital to support the Company’s go forward plans; the overall global economic environment; the impact of competition and new technologies; general market, political and economic conditions in the countries in which the Company operates; projected capital expenditures and liquidity; changes in the Company’s strategy; government regulations and approvals; changes in customers’ budgeting priorities; plus other factors that may arise. Any forward-looking statements in this press release are made as of the date hereof, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
FAQ
What is the total amount Ackroo received from the sale of GGGolf?
Who purchased GGGolf from Ackroo?
What financial strategy is Ackroo pursuing by selling GGGolf?
When will Ackroo receive the monthly payments from the sale of GGGolf?
What does GGGolf Technologies Inc. aim to provide?
