Perk Labs Applauds the Canada Digital Adoption Program

Rhea-AI Summary

Perk Labs Inc. (CSE:PERK)(OTCQB:PKLBF) commended the Canadian Government's $4 billion Canada Digital Adoption Program (CDAP) aimed at aiding small and medium-sized businesses (SMEs) to enhance their digital presence. The program allocates $1.4 billion for grants and advisory services and up to $2.6 billion in loans. Perk plans to launch a campaign targeting restaurants to promote their digital tools, including a QR code web order-from-table solution. This initiative is expected to benefit Perk's digital franchising program and its franchisees, especially as restaurants recover from pandemic challenges.

Positive

• Support from the Canadian Government through the $4 billion CDAP to enhance digital presence for SMEs.
• Perk's QR code web order-from-table tool aims to streamline restaurant operations and improve efficiency.
• The endorsement of Perk Hero's solution by industry associations could enhance credibility and market penetration.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / March 15, 2022 / Perk Labs Inc. (CSE:PERK)(OTCQB:PKLBF)(FRA:PKLB) ("Perk" or the "Company"), the digital franchise company helping businesses transition to the digital economy, applauds the recent announcement by the Government of Canada of the $4 billion Canada Digital Adoption Program (CDAP) to help Canadian small and medium-sized businesses (SMEs), including restaurants, grow their online presence and upgrade or adopt digital technologies.

"While many industries were affected by the Covid-19 pandemic, the effects on the restaurant and hospitality industries were particularly devastating. Now the restaurant industry faces new challenges: food price increases, increased labour costs and labour shortages," said Jonathan Hoyles, CEO of Perk, "We're pleased that the Government of Canada is stepping up to help restaurants grow by adopting new digital tools. We believe that the future of dining is digital and it is encouraging to see the Government provide support as restaurants are struggling to bounce back from the pandemic."

Funding under the CDAP consists of $1.4 billion in grants and advisory services to SMEs and up to $2.6 billion in loans from the Business Development Bank of Canada (BDC) to help SMEs cover the cost of implementing digital transformation plans.

• Grow Your Business Online funding provides micro-grants of up to $2,400 and youth e-commerce advisors' support to help small businesses implement digital storefronts and e-commerce capabilities. Eligible costs include those related to the implementation of a digital e-commerce plan such as an online ordering system.
• Boost Your Business Technology funding provides grants covering 90 percent of costs up to $15,000 to access advisory services to develop a digital adoption plan, access to zero percent interest loans from the BDC, as well as opportunities for student placements.

Coinciding with the launch of CDAP, Perk is planning a sales and marketing campaign to reach out to Canadian restaurants to inform them of the benefits of CDAP and adoption of digital tools such as Perk's new QR code web order-from-table tool (https://campaign.perkhero.com/order-from-table) that helps restaurants streamline their business and save costs. Perk Hero's Digital Dine-in^TM solution was recently endorsed by the British Columbia Restaurant and Foodservices Association (BCRFA) and BC's Alliance of Beverage Licensees (ABLE BC) as a way to assist overworked restaurant and pub teams manage order flow and keep service levels up during and after the ongoing labour shortage.

Perk also views the new CDAP program as a benefit to its digital franchising program and franchisees focused on providing digital tools to restaurants. For more details on the Canada Digital Adoption Program, please read our blog post at this link: https://medium.com/@perk_labs/63724005e959

About Perk Labs Inc.

Perk Labs Inc. (CSE:PERK)(OTCQB:PKLBF)(FRA:PKLB) is the owner of Perk Hero, the mobile commerce platform on a mission to empower business owners with the digital tools to provide their customers with dining experiences that are more engaging, convenient and rewarding. Perk Hero is growing through a unique community-driven digital franchise business that is available to entrepreneurs at an attractive start-up price.

For more information about Perk Labs, please visit www.perklabs.io. Visit Perk Hero at www.perkhero.com.

For more information on a Perk Franchise, visit www.perkfranchise.com.

For more information contact:

Jonathan Hoyles
CEO
Perk Labs Inc.
(833) 338-0299
investors@perklabs.io

Jules Gagnon
Director of Investor Relations & Community
(833) 338-0299
investors@perklabs.io

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "may", "believe", "thinks", "expect", "exploring", "expand", "could", "anticipate", "intend", "estimate", "plan", "pursue", "potentially", "projected", "should", "will" and similar expressions, or are those, which, by their nature, refer to future events. These forward-looking statements, which involve risks and uncertainties, relate to, among other things, the discussion of the Company's business strategies and its expectations concerning future operations, including statements regarding the Canada Digital Adoption Program and the benefits to the Company's franchisees. Although the Company considers these forward-looking statements to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties, and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance and that actual results may differ materially from those in forward-looking statements. Undue reliance should not be placed on such forward-looking information, as there can be no assurance that the plans, intentions, or expectations upon which they are based will occur.

SOURCE: Perk Labs Inc.

View source version on accesswire.com:
https://www.accesswire.com/693068/Perk-Labs-Applauds-the-Canada-Digital-Adoption-Program

FAQ

What is the Canada Digital Adoption Program and how does it benefit PKLBF?

The Canada Digital Adoption Program (CDAP) is a $4 billion initiative designed to support small and medium-sized businesses (SMEs) in Canada, such as restaurants, by providing grants and loans for digital transformation. For PKLBF, it presents opportunities to promote their digital solutions to potential clients, boosting their market presence.

How is Perk Labs planning to utilize the CDAP funding?

Perk Labs intends to launch a sales and marketing campaign targeting restaurants to inform them about the benefits of the CDAP and to promote their digital tools, including the QR code web order-from-table solution.

What are the key financial components of the CDAP?

The CDAP consists of $1.4 billion in grants and advisory services, and up to $2.6 billion in loans from the Business Development Bank of Canada to aid SMEs in implementing digital transformation.

How does the endorsement from BCRFA and ABLE BC impact PKLBF?

The endorsement from the British Columbia Restaurant and Foodservices Association (BCRFA) and BC's Alliance of Beverage Licensees (ABLE BC) could enhance the credibility of Perk Labs' Digital Dine-in solution, potentially increasing adoption among restaurants facing operational challenges.