GIVEX CORP - GIVXF STOCK NEWS

Givex has promoted Juan Tovar to SVP of Corporate Integrations as part of its strategy to boost acquisition growth, following three acquisitions in six months, including UK-based Counter Solutions. Tovar, who joined Givex in 2010, will oversee post-purchase integrations to ensure seamless transitions. The company's Q2 financial results indicated a 36% revenue increase to $16.8 million and a 25% rise in customer locations to 116,000. Givex's growth has led to new hiring opportunities across various departments.

Givex has completed the acquisition of Counter Solutions Holdings, marking its fourth acquisition in 18 months, aimed at expanding its product offerings and global presence. The acquisition includes Counter Solutions' innovative WAY2PAY self-service platform, enhancing Givex's POS and kiosk functionalities. With this deal, Givex adds approximately 1,000 merchant locations to its existing network of over 115,000 global locations. The acquisition will be financed through cash, debt, and shares, aligning with previous acquisition metrics.

Givex Information Technology Group Limited (TSX: GIVX; OTCQX: GIVXF) reported its Q2 2022 financial results, revealing a 36% revenue increase to $16.8 million and a growth in customer locations to 116,000. The POS Gross Transactional Value surged by 109% to $584 million. Adjusted EBITDA was $1.0 million, down from $1.9 million in Q2 2021, partially due to prior COVID-19 wage subsidies. For the six-month period, revenue grew 31% to $33.2 million, with total Gross Transactional Value rising 23% to $3.04 billion.

eScrip has announced reaching a significant milestone of $450 million in donations to schools and nonprofits since its inception in 1999. Involved with 53,000 beneficiaries nationwide, the program enables customers to support organizations through their shopping habits. eScrip can function with existing retail technology and aims to enhance community engagement. Parent company Givex, following the acquisition of Loyalty Lane, seeks to leverage technology for easier charitable giving. This initiative is essential, especially post-COVID-19, as community support becomes increasingly crucial.

Givex announced a new workplace policy allowing over 310 employees across 12 global offices to work remotely or in the office. This decision reflects the company's adaptability during nearly 30 months of remote work, where it achieved significant milestones, including a revenue increase of over 50%. CEO Don Gray emphasized the importance of employee flexibility and maintaining productivity. Givex also completed three acquisitions, went public in Canada, expanded its services, and enhanced its technology systems. Monthly in-office team meetings are planned to foster collaboration.

Givex has partnered with Benjamin, a leading bakery chain in São Paulo, to integrate its omnichannel technology platform, enhancing customer experience through a data-driven loyalty program and streamlined operations. This collaboration enables Benjamin to embrace digital innovation, facilitating online ordering and tailored promotions. Givex's technology will be rolled out across all 20 bakery locations within a month, marking a significant milestone in its expansion within Brazil. The partnership aims to leverage customer insights for improved product offerings and increased sales.

On July 21, 2022, Givex Information Technology Group Ltd. announced the launch of an omnichannel gift card program in partnership with Pague Menos, Brazil's leading pharmacy retailer with 1,169 locations. This initiative enhances Givex's presence in the prepaid industry through its GivexHub, connecting various sales channels and optimizing data intelligence for sales strategies. Customers can purchase gift cards via mobile wallets and redeem them online and in-store, aiming to improve customer experience and leverage Givex's technology platform.

Givex has been appointed as the global gift card provider for a prominent Spanish fashion retailer, launching its gift card program in 900 locations across 40 countries, including Europe, the U.S., and the Middle East. This initiative marks a significant milestone in Givex's international growth strategy, with an expansion plan to include over 1,000 locations in a second phase. Givex, known for its customer engagement solutions, aims to enhance its offerings through this partnership and expects further announcements throughout the year.

Givex Information Technology Group Ltd. (TSX: GIVX, OTCQX: GIVXF) announced the launch of GivexPOS in a Michelin three-star restaurant in Hong Kong, part of a five-unit multi-branded group. The installation is set for mid-July 2022, marking a significant milestone in Givex's international expansion. With over 100,000 active locations globally, Givex continues to demonstrate its global tech leadership in customer engagement solutions, including POS, gift cards, and loyalty programs. This partnership in Hong Kong is expected to enhance Givex's reach and drive growth in the Asian market.