Snipp Clarifies News Release
March 28 2018 - 12:53PM
TORONTO, March 28, 2018 (GLOBE NEWSWIRE) -- At the
request of IIROC, Snipp would like to clarify the news issued
today. Snipp Interactive Inc. ("Snipp" or the “Company”)
(OTCQB:SNIPF) (TSX-V:SPN), a global provider of digital marketing
promotions, rebates and loyalty solutions, today announced that it
has secured a $100,000, 3 week contract addition for Canada and the
U.S. markets with a global household and personal care products
consumer goods company for whom the Company has been running a
program on its market-leading SnippCheck platform.
The customer originally engaged Snipp in March
of 2016 and subsequently expanded the scope of the agreement twice,
including an extension into the Canadian market. The customer
signed this latest addition based primarily on the outstanding
success of the recent promotion, which was launched in October 2017
on the Company’s SnippCheck proprietary receipt processing and
SnippRewards platforms in the U.S. and Canadian markets. The
program drove over 100,000 participants to purchase $15 worth of
the client’s products resulting, in over $2MM of incremental
revenue for the client (per their estimate). This contract
represents a prime example of the impact and scalability of Snipp’s
programs across multiple geographies and also for multiple
industries.
“We are extremely pleased to receive additional
recognition of the impact of Snipp’s robust marketing platform from
an existing client,” commented Atul Sabharwal, Snipp Chief
Executive Officer. “This is becoming a welcome trend, with
successive clients who have chosen to expand their relationship
with Snipp, based on the success of past promotions. We look
forward to delivering best in class marketing and technology
solutions for this industry giant. With each contract extension,
industry confidence and awareness of our platform continues to
grow, as brands increasingly recognize our ability to deliver
innovative solutions to help drive engagement and sales.”
“Moreover, we are excited that these same
platforms can be used in new markets ranging from the Hospitality
to the Cannabis industry, both of which we have just begun to focus
on in a more serious way. For example, we recently launched our
Cannabis Marketing Resource Center (CMRC), which is geared toward
helping players in this evolving industry take advantage of our
deep knowledge in running promotions in the Alcohol, Pharma and
Tobacco space. Since launching the program, many leading industry
players have been signing up at http://www.snipp.com/cmrc to take
advantage of our experience running effective and compliant
programs in similar regulated industries. We are confident that
over time many of these Cannabis players will graduate from the
knowledge they will be acquiring from our CMRC to gaining
competitive advantage in their markets by leveraging our platforms
and technology. In addition, we look forward to sharing our Q4 2017
and full year audited financial performance with our investors in
the coming days. We will be announcing a final date for our
earnings release and conference call later this week.”
Visit the Snipp website at http://www.snipp.com/
for Snipp’s full suite of solutions and examples of Snipp
programs.
About Snipp:
Snipp is a global loyalty and promotions company
with a singular focus: to develop disruptive engagement platforms
that generate insights and drive sales. Our solutions include
shopper marketing promotions, loyalty, rewards, rebates and data
analytics, all of which are seamlessly integrated to provide a
one-stop marketing technology platform. We also provide the
services and expertise to design, execute and promote client
programs. SnippCheck, our receipt processing engine, is the market
leader for receipt-based purchase validation; SnippLoyalty is the
only unified loyalty solution in the market for CPG brands. Snipp
has powered hundreds of programs for Fortune 1000 brands and
world-class agencies and partners.
Snipp is headquartered in Toronto, Canada with
offices across the United States, Canada, Ireland, Europe, and
India. The company is publicly listed on the OTCQB, of the OTC
market in the United States of America, and on the Toronto Stock
Venture Exchange (TSX) in Canada. Snipp was selected to the TSX
Venture 50®, an annual ranking of the strongest performing
companies on the TSX Venture Exchange, in 2015 and 2016. SNIPP IS
RANKED AMONGST THE TOP 500 FASTEST GROWING COMPANIES IN NORTH
AMERICA On Deloitte’s 2017 Technology Fast 500™ List, for the
second year in a row.
FOR FURTHER INFORMATION, PLEASE CONTACT:
MKR Group, Inc.
Todd Kehrli / Mark Forney
snipp@mkr-group.com
Snipp Interactive Inc.
Jaisun Garcha
Chief Financial Officer
investors@snipp.com
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.
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