VANCOUVER, Aug. 8, 2019 /CNW/ - Datable Technology Corp. (TSXV: DAC) (OTCQB: TTMZF) (the "Company" or "DTC"), a technology company whose core product, PLATFORM3, is an integrated suite of digital marketing applications sold as Software-as-a-Service (SaaS), announces that it has signed five license agreements to provide its loyalty and rewards solution to leading consumer brands. Four of these programs are expected to be completed in 2019.
These agreements will generate over $105,000 in licensing revenues plus transactions revenues, bringing Datable's total contracted revenues to approximately $1.8 million, plus transaction revenues, with 75% expected to be recognized in 2019. The agreements include:
- The first agreement was signed on April 30, 2019 with a returning advertising agency and end-customer who had previously run a program using Datable's PLATFORM³ to incentivize sales for their laundry detergent in early 2019. The new licensing agreement includes a ten-week gift-with-purchase promotion.
- The second agreement was signed on June 11, 2019 with a new customer who is one of the largest chocolate manufacturers in the world. The license agreement includes a gift-with-purchase promotion for the purchase of qualifying products at select retailers. Consumers will receive a digital movie gift card for qualifying purchases. The promotion will begin in September 2019 and will run for four weeks.
- An agreement was signed on July 2, 2019 with a second returning customer – a multinational brewing company who has hosted multiple programs in both 2018 and 2019. The new agreement includes a French language microsite to host a nine-week gift-with-purchase promotion.
- A third returning customer – a popular Canadian bread brand – signed an agreement on July 26, 2019 for a four-week back-to-school program to incentivize sales for two of their bread brands. The consumer will receive a digital music gift card for qualifying purchases.
- The fifth agreement was signed on July 30, 2019 with a returning customer for a sixteen-week promotion commencing in October 2018 for a multinational food company with leading brands comprised principally of snacks and convenience foods like cereal and frozen foods.
"These agreements with new and repeat customers show that our Software-as-a-Service marketing platform continues to provide value to leading consumer brands," said Rob Craig, CEO of Datable. "We are encouraged by the growth of our SaaS business as we prepare for the launch of new data products that will leverage our core technology to potentially generate new revenues streams in consumer goods, eSports and shareholder loyalty."
About Datable Technology Corp.
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.
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 Datable Technology Corp.
For further information: Datable Technology Corp., Robert Craig, Chief Executive Officer, (604) 639-5441, [email protected]