VANCOUVER, May 16, 2018 /CNW/ - 3tl Technologies Corp. (TSXV: TTM) (OTCQB: TTMZF) (the "Company" or "3tl"), announces that as of the end of April 2018 it has signed 20 new license and service agreements with leading brands including 10 repeat customers and 10 new customers.
In addition to a three-year license renewal and extension with a global media & entertainment company (see press release dated May 10, 2018), license agreements were signed over the first four months of 2018 with:
- A popular rice brand; for a three month gift with purchase promotion;
- A multinational brewing company with over $25 billion in annual revenue, which has licensed PLATFORM³ multiple times, for a six month shopper marketing promotion;
- A leading manufacturer of household products for a five year license agreement, which has previously licensed PLATFORM³ for short-term promotions;
- A family-owned canned beans company; for a two month long gift with purchase promotion with select retailers; and,
- The home entertainment division of multinational media corporation for a six month loyalty program, which is an extension of a one-year license, signed while discussions are underway for a longer term license.
Under these agreements, the customers will use PLATFORM³ to engage their consumers via mobile devices, reward purchases and collect valuable consumer data. PLATFORM³'s Artificial Intelligence and Machine Learning modules will enable the customers to monetize the consumer data by targeting offers based on consumers' purchasing behaviour and demographics.
These license agreements will provide 3tl with license revenue of over $200,000 with close to 70% being recognized in 2018. 3tl will also be paid transaction fees based on the number of times consumers validate purchases and brand interactions on PLATFORM³. The Company has agreements that will generate approximately $1.5 million in revenues plus transactions fees including the 20 agreements signed in the first four months of 2018, and agreements signed in prior periods. As recently reported, 3tl's gross margins were 61% in for the year ended December 31, 2017.
"Our customers keep coming back to us because our platform has helped them grow customer loyalty and target the right consumers at the right time," said Robert Craig, 3tl's CEO. "2018 has been a strong year for us already. We're focused on helping brands connect directly with their consumers, and harnessing the power of data to drive initial purchase, purchase frequency and customer loyalty."
About 3tl Technologies Corp.
3tl has developed a proprietary, mobile-based consumer marketing platform – PLATFORM³ – that is sold to global Consumer Packaged Goods (CPG) companies and consumer brands. PLATFORM³ is delivered as a subscription service (Software as a Service model) and used by CPG companies to engage consumers, reward purchases and collect valuable consumer data. PLATFORM³ incorporates Artificial Intelligence and Machine Learning to monetize the consumer data, including demographics and purchasing behaviour, by sending consumers targeted offers by email and text messages. For more information, visit 3tltechcorp.com.
For additional information about the company please visit www.sedar.com. The TSX Venture Exchange Inc. has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release. Neither 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. This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds and the results of financing efforts, - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE 3tl Technologies Corp.
For further information: 3tl Technologies Corp., Robert Craig, Chief Executive Officer, (604) 639-5441, firstname.lastname@example.org