VANCOUVER, British Columbia, July 24, 2019 – LOOP Insights Inc. (TSX.V: MTRX) (the “Company” or “Loop”) is pleased to announce that it has entered into a Preferred Partnership Agreement (the “Agreement”) with Barnet POS Systems Corp. (“Barnet”), a provider of Point of Sale Terminals and ancillary services across Canada and the US with a focus on the Liquor and Food & Beverage sectors.
The Agreement entails a strong endorsement and commitment to collaborate on a roll-out strategy for the installation of the LOOP platform at all of Barnet’s current 500+ customers’ locations.
The Agreement has a term of 5 years with an automatic one-year renewal thereafter.
“We are very excited to have partnered with Barnet as it accelerates our land grab acquisition for the Canadian liquor retail market. The Barnet partnership creates immediate substantial recurring revenue opportunities for LOOP and positions us too be well over halfway mark in our target to acquire 1,000 liquor retail locations for the year,” commented Rob Anson, CEO of LOOP Insights.
Barnet Group is a Canadian POS software development company with over 25 years of experience and currently is deployed in over 500 locations in Canada and the USA. The Barnet System is in use across many different business models, but specializes in highly specific, complicated and/or regulatory driven business models including: Liquor, Food and Beverage, Grocery, Hospitality, and Cannabis. The Barnet POS Management Solution for Liquor Stores is designed for the Liquor Business model and has been supporting the Liquor industry for more than 20 years. The Barnet Liquor System has been highly customized for liquor board regulations and rules and is integrated with several key vendors.
The Barnet POS products have key features for areas of business including sales operations, comprehensive Inventory Control Modules, customer loyalty system, multi-store operations with head office, e-commerce and mobile applications. Using a hybrid cloud computing approach, Barnet has created their system to be a reliable, user-friendly and cost-effective solution.
LOOP Insights Inc. (TSX.V: MTRX) is a Vancouver-based technology company that has developed a unique automated AI marketing platform that intends to level the playing field for brick and mortar retailers in their battle with online digital competition. LOOP gives brands and retailers the capability to inter-connect their physical and digital ecosystems by using the device that can be plugged into any point of sale environment, independent 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, a capability which previously did not exist.
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.
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