VANCOUVER, June 27, 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 license agreements to provide its loyalty and rewards solution to two leading consumer brands. These agreements will generate over $169,000 in licensing revenues plus transactions revenues, with all revenues expected to be recognized within the next nine months.
The first agreement was signed pursuant to a Master Service Agreement ("MSA", see press release dated May 17, 2019) with a leading U.S. marketing and promotions agency (the "Agency") who works with large global consumer brands. Under the agreement, the Agency will license PLATFORM3 to host a promotion for one of the world's largest consumer goods companies to reward consumers for making purchases at a leading wholesale club chain across Canada. The Agency is licensing three modules of PLATFORM3 for the promotion: Contests & Promotions, Purchase Receipt Validation and Data Capture & Analytics. In addition, Datable will build a custom Customer Relationship Management (CRM) portal, leveraging PLATFORM3 technology, for the customer to manage all participant interactions.
The second agreement was signed with returning advertising agency and end-customer who have run multiple programs using Datable's PLATFORM3 to incentivize sales for their popular rice brand. The new licensing agreement includes a seven-week gift-with-purchase promotion for the purchase of select packaged rice products. The promotion will begin mid-August and end in October.
"These two agreements, one with a new agency/customer and one with a returning agency/customer are further validation that PLATFORM3 is providing great value for leading consumer brands," said Robert Craig, Datable's CEO. "The first customer under the MSA we signed in May has dozens of global brands, including numerous brands that generate over $1 billion in annual sales that can all benefit from PLATFORM3. We look forward to providing them with a strong ROI, and making them a returning customer."
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]