Perk Labs Engages ITG as Market Maker

Rhea-AI Summary

Perk Labs Inc. has engaged Independent Trading Group (ITG) for market-making services to enhance the liquidity of its shares on the Canadian Securities Exchange (CSE). Under the agreement, ITG will receive CAD$5,000 monthly for an initial three-month term, renewed monthly unless terminated. The agreement does not include performance factors or equity compensation. ITG is an unrelated entity with no current interest in Perk's shares. The company operates Perk Hero, a mobile commerce platform aimed at empowering business owners with digital tools for improved customer experiences.

Positive

• Engagement of ITG aims to enhance liquidity and stabilize the share price.
• ITG is an established market maker with a strong reputation, potentially improving market perception.

Negative

• No performance-related compensation could signal limited accountability for ITG's market-making effectiveness.
• Dependence on ITG could lead to risks if market conditions change.

VANCOUVER, BC / ACCESSWIRE / January 26, 2023 / Perk Labs Inc. (CSE:PERK)(OTCQB:PKLBF)(FKT:PKLB) ("Perk" or the "Company"), Is pleased to announce it has engaged Independent Trading Group ("ITG") to provide market-making services in accordance with the Canadian Securities Exchange ("CSE") policies. ITG will trade shares of the Company on the CSE and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the Company's common shares.

Under the agreement, ITG will receive compensation of CAD$5,000 per month, payable monthly in advance. The agreement is for an initial term of three months and will renew for additional one-month terms unless terminated. The agreement may be terminated by either party with 30 days' notice. There are no performance factors contained in the agreement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities and at the time of the agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company.

About ITG

Independent Trading Group (ITG) Inc. is a Toronto based IIROC dealer-member that specializes in market making, liquidity provision, agency execution, ultra-low latency connectivity, and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.

About Perk Labs Inc.

Perk Labs Inc. (CSE:PERK)(OTCQB:PKLBF)(FKT: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

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. 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. Such factors include, among other things: the market making activities by ITG and the approval of the CSE of the agreement with ITG. 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/736817/Perk-Labs-Engages-ITG-as-Market-Maker

FAQ

What is the purpose of Perk Labs engaging ITG as a market maker?

Perk Labs engaged ITG to improve the liquidity and stabilize market conditions for its shares.

What are the terms of the agreement with ITG for market-making services?

ITG will receive CAD$5,000 per month for an initial term of three months, with monthly renewals unless terminated.

How does ITG plan to improve Perk Labs' stock liquidity?

ITG will trade shares of Perk Labs on the CSE and other venues to create a reasonable market and enhance liquidity.

Is ITG affiliated with Perk Labs?

No, ITG and Perk Labs are unrelated and unaffiliated entities.

What is the main business of Perk Labs?

Perk Labs operates Perk Hero, a mobile commerce platform designed to enhance customer engagement and convenience for business owners.