VANCOUVER, British Columbia, May 21, 2020 – Loop Insights Inc. (TSX.V: MTRX) (the “Company” or “Loop”)— provider of transformative artificial intelligence (AI) solutions— released a company update as global businesses enter into Covid-19 recovery plans.
As government and municipal restrictions begin to lift, brick and mortar retail is now slowly reopening. Many of Loop’s previous projects—that were put on hold due to the Covid-19 lock down—are now being fast tracked, with implementations being scheduled for mid June.
In the face of Covid-19, there is now a major emphasis put on contactless solutions. In many cases, they have been mandated as part of a retailer’s required approval process for reopening. With Loop’s recent product releases of contactless services, including ID verification and digital receipt platform, its product line is now more relevant than ever; the Company expects a major boost in contracts and continued growth.
Due to the recent completion of an oversubscribed financing, Loop now holds a secure cashflow position—putting the Company in a position of strength to capitalize on several recently announced global opportunities. These include large-scale distribution partnerships in Hawaii, Tokyo, Mexico, Latin America, Indonesia and Canada. The Company’s long-term growth strategy is to remain extremely lean and agile, and to expand through distribution and channel resellers. It will continue to focus its efforts on seeking best of breed partners, as well as leveraging current partnerships, to achieve its goal of global scale.
Loop CEO, Rob Anson: “Covid-19 brought Loop the perfect storm of relevancy for our products and services. The sense of urgency, and need to embrace digital transformation, could not be any higher. We identified the gaping holes in the market long ago and our commitment and focus to stay on course has now positioned us to become a global leader in the contactless, frictionless solutions space. Our sole focus for the remainder of 2020 will be on the execution and successful implementations of the many big projects that lay ahead of us.”
About Loop Insights: is a Vancouver-based technology company that provides transformative artificial intelligence (AI) solutions to level the playing field between brick and mortar retailers and their online competition. Particularly, Loop’s technology aggregates online and on-premise data to enable real-time, data-driven marketing decisions for an enhanced customer experience. To close the consumer loop, the Company provides retailers and brands complete, real-time redemption metrics—something that does not exist in the brick and mortar environment today. Loop’s products integrate with clients’ existing legacy systems, which supports a seamless and convenient digital transformation.
Forward Looking Statements/Information:
This news release contains certain statements which constitute forward looking statements or information, including statements regarding Loop’s business and technology; the ability of Loop to engage with industry participants to achieve its goals; the development of Loop’s technology; and the viability of Loop’s business model. 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, 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 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.