Snipp Interactive Receives Renewal Orders for H1 2022 from Fortune 50 Consumer Packaged Goods Company over USD $2.5MM Billed over 3 Year Relationship

Rhea-AI Summary

Snipp Interactive Inc. (OTC PINK: SNIPF) announced a renewal and deployment plan from a major Fortune 50 consumer packaged goods company, marking over USD $2.5 million in billings over their three-year partnership. The plan details programs for 2022, including engagements during the NFL, Winter Olympics, and Black History Month. The company’s SnippCHECK platform is integral to these promotions. CEO Atul Sabharwal expressed confidence in the company’s growth potential and plans to enhance shareholder value, highlighting a debt-free structure and cash flow profitability.

Positive

• Renewal and deployment plan with a Fortune 50 client, ensuring continued revenue.
• Total billings from the client surpassing USD $2.5 million over three years.
• Diverse program engagement planned for 2022, enhancing market presence.
• CEO's focus on unlocking equity value and potential stock market growth.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / October 20, 2021 / Snipp Interactive Inc. ("Snipp" or the "Company") (TSXV:SPN)(OTC PINK:SNIPF), a global provider of digital marketing promotions, rebates and loyalty solutions, is pleased to announce that it has received a renewal and deployment plan from a global Fortune 50 consumer packaged goods ("CPG") company with over $70B USD in revenue across 65 unique brands in 10 product categories. Billings for this client have crossed USD $2.5MM over the three-year relationship.

This order covers deployments for a subset of brands in the US market. The 2022 plan covers 3 programs running with the NFL, Winter Olympics, and Black History Month for the first quarter of 2022. 4 programs have been confirmed for the second quarter and will be contracted in the next few weeks. Subsequent planning is ongoing for roll outs in the back half of 2022. The client is a veteran user of SnippCHECK the industry-leading receipt processing engine and component of the SnippCARE Platform (Customer Acquisition, Retention and Engagement) and is what powers most of this client's purchase based global promotions.

"As we continue to enter new markets and attract new customers, we are also razor focused on delivering value to our existing clients and growing our relationship with them as is evident from the orders received and planned for the first half of 2022." said Atul Sabharwal, Founder and CEO, "at the same time, we are evaluating how to unlock the value of our equity and are currently exploring various options including exploring/adding to the exchanges we are listed on. Given our exponentially growing topline, debt free capital structure as well as our cash flow profitability, it is evident that the markets are not yet valuing the company for what we believe its potential truly is and we are committed to fixing that. We believe our stock is held to a higher standard than most and are happy to not only meet but exceed our valuable investors expectations. We expect our earnings to be released shortly."

About Snipp:

Snipp Interactive Inc (TSX-V: SPN; OTCPK: SNIPF) is a Platform-as-a-Service (PaaS) company in the global loyalty and promotions sector. Snipp's proprietary and modular SnippCARE (Customer Acquisition, Retention & Engagement) Platform allows its marquee list of Fortune 1000 Clients and world-class agencies and partners to use various modules of the Platform to run long-term and short-term programs and promotions, while continually generating and capturing unique zero party data that is invaluable in providing insights to drive sales. SnippCHECK, the Platform's Receipt Processing Module has established itself as the clear industry leader and standard by powering a large majority of all receipt based promotions in North America. SnippLOYALTY, the Platform's full scale modular loyalty engine allows clients the flexibility of deploying any/all aspects of a standard loyalty program on a case by case basis. SnippREWARDS, the Platform's modular catalogue of digital and physical rewards provides Clients with global and easily deployable access to an extensive catalogue of digital and physical rewards. SnippWIN, the Platform's gaming module solves for the implementation and compliance difficulties of offering games of chance and skill on a global basis, and allows for the global deployment and administration of legally compliant games of chance and skill. For more information, visit the Company's website at www.snipp.com

Snipp is headquartered in Vancouver, Canada with a presence across the United States, Canada, Ireland, Europe, and India. The company is publicly listed on the Toronto Stock Venture Exchange (TSX-V) in Canada and is also quoted on the OTC Pink marketplace under the symbol SNIPF.

FOR FURTHER INFORMATION PLEASE CONTACT:

Snipp Interactive Inc.
Jaisun Garcha
Chief Financial Officer
investors@snipp.com
1-888-99-SNIPP

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as changes in demand for and prices for the products of the company or the materials required to produce those products, labour relations problems, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. The reader is cautioned not to put undue reliance on such forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright Snipp Interactive Inc. All rights reserved. All other trademarks and trade names are the property of their respective owners.

SOURCE: Snipp Interactive Inc.

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https://www.accesswire.com/668838/Snipp-Interactive-Receives-Renewal-Orders-for-H1-2022-from-Fortune-50-Consumer-Packaged-Goods-Company-over-USD-25MM-Billed-over-3-Year-Relationship

FAQ

What is the significance of the recent announcement by Snipp Interactive (SNIPF)?

Snipp Interactive announced a renewal and deployment plan with a Fortune 50 CPG company, marking over USD $2.5 million in billings from their three-year relationship.

What are the key programs Snipp Interactive has planned for 2022?

Snipp has confirmed programs related to the NFL, Winter Olympics, and Black History Month for the first quarter of 2022, with further programs in planning for the second quarter.

How does Snipp Interactive plan to enhance shareholder value?

CEO Atul Sabharwal mentioned exploring options to unlock equity value and improve market perception, supported by a debt-free structure and cash flow profitability.

What platform does Snipp Interactive utilize for its promotions?

Snipp utilizes the SnippCHECK platform, which is the industry leader in receipt processing for promotions.