PERK LABS INC - PKLBF STOCK NEWS

Perk Labs Inc. (CSE:PERK)(OTCQB:PKLBF) is proposing a non-brokered private placement of up to 11,904,762 units at $0.042 per unit, aiming for gross proceeds of $500,000. Each unit includes one common share and one purchase warrant priced at $0.05, valid for 24 months. The placement is expected to close by April 8, 2022, pending approvals. Proceeds will support marketing efforts for Perk Hero's digital products and working capital. Related parties may participate, exempt from formal valuation requirements. The company has also updated its corporate presentation and adjusted board member compensation to RSUs.

Perk Labs Inc. (OTCQB: PKLBF) will attend the Franchise Canada Show on March 26-27, 2022, marking its first in-person appearance since the pandemic restrictions eased. This key event, featuring over 50 exhibitors, presents a prime opportunity for the company to connect with potential franchisees and promote its digital dine-in solutions. Perk Labs recently signed its first franchise in Mississauga, signaling interest in its digital franchise program, particularly within the Greater Toronto Area.

Perk Labs Inc. reported its financial results for the fourth quarter and fiscal year ending November 30, 2021, noting a revenue of $28,947, down from $63,896 in 2020. The company faced operational challenges due to post-pandemic recovery, impacting its eCommerce plans. Despite increased research and development expenses of $920,927, Perk Labs launched a digital franchise model and a new dine-in solution. The net loss for 2021 was ($1,487,312), a reduction from ($4,490,939) in 2020, alongside increased working capital of $1,995,497.

Perk Labs Inc. (OTCQB:PKLBF) has received a joint endorsement from the British Columbia Restaurant and Foodservices Association (BCRFA) and the BC's Alliance of Beverage Licensees (ABLE BC) for its Digital Dine-In solution. The endorsement addresses ongoing labor shortages in the restaurant industry, highlighting that the technology can significantly assist staff in managing order flow. Perk Labs aims to leverage this support to expand its presence in the industry, as the easing of pandemic restrictions puts pressure on staffing challenges.

Perk Labs (OTCQB:PKLBF) has launched its cryptocurrency rewards, PERKS, aimed at facilitating the use of crypto in everyday transactions. The crypto, built on the Solana blockchain, emphasizes fast, secure, and eco-friendly transactions. Customers can convert cashback rewards from Perk Hero into PERKS, which can be used for dining, eCommerce, and gift cards. With trends showing increased consumer interest in using digital assets, the company plans to expand redeemable options for PERKS, including NFTs and unique rewards, signaling a significant step in crypto adoption.

Perk Labs Inc. (CSE:PERK)(OTCQB:PKLBF) has appointed Justin Strange as Vice President of Franchise Sales and Operations and Jules Gagnon as Director of Investor Relations and Community. Both appointments are effective immediately. Strange aims to enhance franchise growth, while Gagnon will leverage his investor relations experience to engage with the investor community, particularly in the crypto sector. Their compensations include stock options. These strategic hires aim to boost Perk's market presence and support the upcoming launch of its crypto rewards project.

Perk Labs shared insights on 2021, highlighting a challenging year due to the Covid-19 pandemic, inflation, and supply chain issues. Key milestones included advancements in a crypto loyalty rewards program on the Solana blockchain, a community-driven digital franchise launch, and a new U.S. patent for mobile invoice payments. The firm plans to empower businesses with digital tools in 2022, aiming for significant growth through its platform and the introduction of NFTs. The company anticipates becoming a leading Web3 native digital loyalty platform in North America within three years.

Perk Labs (OTCQB: PKLBF) announced the issuance of U.S. Patent No. 11,170,354, its first patent, which enables mobile payments for invoices and bills. This patent reinforces the Company's intellectual property and strengthens its licensing strategy. In addition, Perk Labs has several pending patent applications in Canada, Australia, Europe, and the U.S. related to mobile payments and anti-fraud technology. The Company aims to file more patents as it develops its technology further.

Perk Labs Inc. (OTCQB:PKLBF) reported its Q3 2021 financial results, highlighting a net loss of $1.1M and revenue of $6,447, down from $10,053 year-over-year. The company's working capital improved to $2.5M. Perk Hero is expanding its digital franchise program, targeting community-minded entrepreneurs with a mobile ordering and loyalty platform. Franchisees can earn 70% of SaaS revenue, with fees ranging from $25,000 to $35,000. Recent operational upgrades include a web-based administration portal, and Perk Labs aims to continue franchise growth and develop new technologies like Perk Coin.