VANCOUVER, BC / ACCESSWIRE / March 24, 2020 / Loop Insights Inc. (TSX.V:MTRX) (the "Company" or "Loop") maintains a positive outlook for the year ahead. Retailers are already working to rebuild their businesses during these unprecedented times, and Loop is here to assist them. Loop is focused on bringing new technologies and tools to brick and mortar retail helping global businesses recover and create new profitable strategies.
A message from Loop's CEO, Rob Anson:
The Covid-19 crisis has shaken the market unlike we've ever seen. During this time, Loop's team is working remotely and fully operational. We have created a strong educational strategy, for our customers, that includes regular delivery of press releases, blogs, social media content, videos, and podcasts. Over the next months, expect to see consistent, engaging updates from Loop with a steady news flow on company progress.
Since the start of 2020, our team has worked tirelessly to complete the commercialization of our solution stack and the introduction of new disruptive technologies and licensing models. With the product being commercialized, by Q2 2020, Loop will benefit from an operational cost reduction of roughly 40%. Additionally, now with a lean and agile team, we are shifting focus on leveraging partnerships, building our client base, and ultimately increasing sales and revenue.
Loop's latest product milestones have attracted interest and opened up conversations with companies in Canada, the USA, Australia, New Zealand, Thailand, Japan, and Mexico. We are exploring several strategic partnerships that will help achieve global scale. Our revenue model consists of licensing and re-seller distribution agreements, which is designed to grow exponentially as we close deals with large-scale venues, operators and umbrella companies. This ongoing revenue stream adds long-term value to our shareholders.
As I am extremely confident that Loop will continue to flourish during 2020, I will look to bolster my personal position with continued open market buying. I would also like to advise past participants in previous equity raises that we are in the process of finalizing the repricing of associated warrants.
Loop's ability to enhance customer engagement and build new line revenue opportunities is what brick and mortar retailers need coming out of this market volatility. During this time of crisis, Loop has remained focused on leveraging partnerships, increasing education around our solution stack, reducing our burn rate, and implementing revenue streams. Stay tuned for more announcements to come.
More About Loop: Loop Insights Inc. (TSX.V: MTRX) is a Vancouver-based technology company that has developed a unique proprietary platform that combines the power of IoT and AI to level the playing ﬁeld between brick and mortar retailers and their online competition. Loop gives brands and retailers the ability to connect their physical and digital assets, regardless of hardware or IT networks, thus enabling rapid deployment and global scale. Retailers and brands beneﬁt from making real-time, data-driven decisions that help them curate unique personalized customer experiences in stores.
For More Information, Please Contact:
LOOP Insights Inc.
Soy Garipoglu, Manager, IR
E: [email protected]
CHF Capital Markets
Cathy Hume, CEO
T: 416-868-1079 x 231
E: [email protected]
This news release contains certain statements which constitute forward-looking statements or information. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Loop's control, including the impact of general economic conditions, industry conditions, and competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Loop believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Loop does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Loop should be considered highly speculative. There can be no assurance that Loop will be able to achieve all or any of its proposed objectives.
Neither the TSX Venture Exchange nor it's 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.
SOURCE: Loop Insights Inc.