Loop Insights Completes Acquisition of Passcreator – a growing German based mobile marketing technology Company
Loop Insights Inc. (OTCQB: RACMF) successfully completed its acquisition of mediahelden GmbH d/b/a Passcreator on April 14, 2021, following TSXV approval. The deal involved issuing 1,301,425 common shares as consideration. Passcreator, a German mobile marketing software company, offers a scalable, GDPR-compliant solution suitable for businesses of all sizes. This acquisition is expected to enhance Loop's capabilities in AI-driven marketing solutions across various industries, positioning it for potential revenue growth.
- Acquisition of Passcreator expected to enhance Loop's service offerings in mobile marketing.
- Passcreator's technology could lead to increased revenue streams post-acquisition.
- Acquisition expands Loop's footprint in the marketing sector, leveraging Passcreator's scalable solutions.
- Integration challenges may arise from merging Passcreator's operations with Loop.
- Potential financial strain during the transition phase could affect short-term results.
VANCOUVER, British Columbia, April 16, 2021 (GLOBE NEWSWIRE) -- Further to the Company's press release dated March 29, 2021, Loop Insights Inc. (TSXV: MTRX; OTCQB: RACMF) (the “Company” or “Loop”), a provider of contactless solutions and artificial intelligence (“AI”) to drive real-time insights, enhanced customer engagement and automated venue tracing to the brick and mortar space, is pleased to announce the receipt of TSXV approval and completion, on April 14, 2021, of the acquisition of mediahelden GmbH d/b/a/ Passcreator by Loop. Due to rounding, the number of common shares of Loop issued as consideration was revised to 1,301,425, all other consideration paid as set out in the prior news release remains the same.
About Passcreator
Passcreator is a German wallet pass software company that offers clients a software as a service solution for mobile marketing. Compatible with wallet apps on both iOS and Android, Passcreator seamlessly integrates with existing marketing platforms, as well as supports the creation of new ones. Furthermore, Passcreator is fully GDPR compliant and highly scalable. This solution is suitable for companies of all sizes.
About Loop
Loop is a Vancouver-based Internet of Things ("IoT") technology company that delivers transformative artificial intelligence ("AI") automated marketing, contact tracing, and contactless solutions to the brick and mortar space. Its unique IoT device, Fobi, enables data connectivity across online and on-premise platforms to provide real- time, detailed insights and automated, personalized engagement. Its ability to integrate seamlessly into existing infrastructure, and customize campaigns according to each vertical, creates a highly scalable solution for its prospective global clients that span industries. Loop Insights operates in the telecom, casino gaming, sports and entertainment, hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia. Loop's products and services are backed by Amazon's Partner Network and sold through the TELUS IoT Marketplace.
For more information, please contact:
| Loop Insights Inc. Rob Anson, CEO T : +1 877-754-5336 Ext. 4 E: ir@loopinsights.ai | www.loopinsights.ai Facebook: @ LoopInsights Twitter: @ LoopInsights LinkedIn: @ LoopInsights |
Cautionary Disclaimers
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. Any securities referred to herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to a U.S. Person absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
Notice Regarding Forward Looking Statements
Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "may", "should", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward looking statements in this news release include statements regarding the closing of the Transaction; post-closing objectives of Loop for Passcreator and its assets; the expectation of additional revenues to Loop post-closing; the expectation that Passcreator revenues may continue to grow as expected; that the Transaction may position Loop for future growth through additional strategic acquisitions; that Loop will be able to incorporate Passcreator’s technology into its own and market such services and products; and that the vendors will assist Loop with the transition of operations post-closing. There are numerous risks and uncertainties that could cause actual results and Loop’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) COVID-19 risks; (ii) difficulties and delays associated with integrating and growing Passcreator’s business post-closing; (iii) risks inherent in the software-as-a-service industry and other industries that Loop and/or Passcreator may operate in general; (iv) other factors beyond the control of the Company; (v) risks associated with operating business overseas; and (vi) risks outlined in Loop’s publicly filed documents available on SEDAR. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
Neither the 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.
FAQ
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