Datable Signs Addendum to LOI with uBUCK to Develop a Loyalty and Payments Solution for eSports
Jun 26, 2019, 08:30 ET
VANCOUVER, June 26, 2019 /CNW/ - Datable Technology Corp. (TSXV: DAC) (the "Company," "Datable," or "DTC"), developers of consumer marketing platform, PLATFORM3, and soon to be launched flexxi Rewards Network, announces it signed an addendum (the "Addendum") to its Letter of Intent (the "LOI") with uBUCK Technologies SEZC ("uBUCK"), a wholly-owned subsidiary of LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF) ("LiteLink"), to enter into a strategic commercial relationship on June 24, 2019. The initial LOI was signed on May 5, 2019 with an initial term of 24 months and the option to renew for a further 24 months (see press release dated May 13, 2019).
In addition to the Strategic Relationship set out in the LOI dated May 5, 2019 Datable and uBUCK will cooperate to develop a digital payments and loyalty solution for the eSports industry by integrating uBucks Streambucks digital payments solution with PLATFORM³, Datable's digital rewards and loyalty platform.
Datable and uBUCK will enter into a revenue share agreement for all revenues generated by the eSports loyalty and rewards platform, including transaction revenues and advertising revenues from Datable's corporate customers. The revenue share terms pursuant to the LOI and the Addendum will be set out in a definitive agreement that is being negotiated concurrent with the technology integration.
"We are very excited to integrate Streambucks with Datable's PLATFORM³ to offer rewards to gamers and fans across the eSports industry, which is rapidly growing into a mainstream source of entertainment rivalling movies and professional sports," said uBUCK CEO James Youn. "Datable has continued to sign-up well-known brands and proven itself as the #1 rewards program on the market. We look forward to being part of their cash card offering and gaining new client referrals through our partnership."
"Our customers are leading consumer brands that are keen to get exposure to the eSports demographic. uBUCK's Streambucks payment solution and their relationship with Enthusiast Gaming makes them a great partner for the eSports sector," said Kim Oishi, Executive Chairman of Datable. "We look forward to working with uBuck to integrate PLATFORM³, which has been proven to be scalable and secure by our numerous loyalty and rewards implementations with leading consumer brands."
Under the terms of the LOI dated May 5, 2019 uBUCK will integrate PLATFORM³, Datable's loyalty and rewards program into uBUCK's digital payments platform. This will allow account holders of uBUCK Pay — who can now make online payments and send worldwide payment transfers within seconds without paying for transfer fees — to also earn rewards for purchases and payments made within the uBUCK Pay digital wallet or on their uBUCK Mastercard. uBUCK and Datable will share transaction fee revenue from the convenience fees charged for uBUCK pin vouchers and debit card transactions.
The terms of the LOI dated May 5, 2019 also stipulate that the uBUCK prepaid credit card will be featured as a reward for consumers to purchase with their points on Datable's client's portals. The terms of the agreement will also give Datable's data management platform access to non-identifiable user purchase history data to provide uBUCK Pay users offers from leading consumer goods companies. Datable's customers are leading consumer brands that use PLATFORM³ to reward consumers for purchasing, viewing content, sharing content via social media, referring friends and completing surveys (see datablecorp.com).
About Datable Technology Corp. (DTC)
DTC 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 datablecorp.com.
About uBUCK Technologies SEZC
Based in Georgetown, Cayman Islands, uBUCK Tech is a financial tech enterprise that specializes in decentralized digital payments and wallets. uBUCK Pay, its online payments platform and pin voucher solution, offers consumers, businesses and merchants a fast, commission-free and highly secure alternative to traditional payments. Customers can purchase pin vouchers within the uBUCK Pay app or at participating resellers. For details about uBUCK Pay, please visit uBUCKpay.com.
About LiteLink Technologies Inc.
LiteLink is a major player in developing world-class enterprise platforms that utilize artificial intelligence, blockchain, and predictive analytics to solve fragmented and outdated technology problems in the logistics and digital payment industries. Our flagship 1SHIFT logistics platform offers real-time transparency and tracking which allows brokers, shippers, and carriers to track shipments and settle payments in real-time. uBUCK Pay is a multi-currency digital wallet that supports traditional fiat and digital currencies. Consumers are able to make online and offline purchases using the uBUCK debit card and send funds worldwide for free. For more information about LiteLink Technologies Inc., please visit litelinktech.com. If you would like to know more about the 1SHIFT logistics platform, please visit 1shiftlogistics.com.
For additional information about Datable 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 Datable Technology Corp.
For further information: Datable Technology Corp., Kim Oishi, Executive Chairman, 416-804-9228, [email protected]