VANCOUVER, May 19, 2020 /CNW/ - Loop Insights Inc. (TSX.V: MTRX) (the "Company" or "Loop") — provider of transformative artificial intelligence (AI) solutions— is pleased to announce that it has signed a Memorandum of Understanding (MOU) agreement with Sun Global Broadband ("SGB"), a global leader in Super Long-range Wi-Fi with mobility, and broadband communications to target international tourism and public safety in the State of Hawaii and for the 2021 Tokyo Olympic Summer Games.
The MOU agreement states that the Companies will work together to implement Loop products in SGB's current and future projects in Hawaii. The verticals of these projects include, but are not limited to: smart city, hospitality, food and beverage, convenience and retail applications. The State of Hawaii's tourism industry sees 9.4M visitors annually, with a $16.8B USD total economic impact.
SGB also agrees to introduce Loop to its global partnerships. SGB will look to leverage their extensive network to deliver a fully integrated solution to many exciting opportunities, including the introduction to Japanese companies for the 2021 Summer Olympic Games.
CEO Edward Sun: "We are excited to bring the Loop technologies to our many projects. We are focused on delivering contactless solutions— to bring confidence back into public places and expedite brick and mortar retail's recovery. We see this being a crucial part of many projects here in Hawaii, as well as with our partners in Japan. Loop Insight's Artificial Intelligence transaction platform integrates with SGB's Public Safety Fever-Check and Beach Safety Systems, Retail Eco-System, and Hospitality Systems for Hawaii."
CEO Rob Anson: "In addition to bringing incredible global connections, SGB offers world class Wi-Fi that is comparable to cellular reach of over one mile, and mobility for city driving—we are excited to leverage each other's networks to offer an enhanced contactless solution to our clients, as they prepare for a successful reopening according to retail's 'new normal.'"
About Sun Global Broadband: is a Honolulu-based company established in 2014 by telecommunications industry veteran Edward Sun, with the mission of building a wireless bridge between Asia and Hawaii. SBG is a global leader in Super Wi-Fi and broadband communications, and is the US partner of NTTBP for projects in Hawaii and Japan. Sun Global Broadband is a member of the Wireless Broadband Alliance alongside AT&T, NT&T, Global Reach (Nomadix Technologies), Accuris (Zephry Telecom) and BSG (Single Digits).
About Loop Insights: is a Vancouver-based technology company that provides transformative artificial intelligence (AI) solutions to level the playing field between brick and mortar retailers and their online competition. Particularly, Loop's technology aggregates online and on-premise data to enable real-time, data-driven marketing decisions for an enhanced customer experience. To close the consumer loop, the Company provides retailers and brands complete, real-time redemption metrics—something that does not exist in the brick and mortar environment today. Loop's products integrate with clients' existing legacy systems, which supports a seamless and convenient digital transformation.
This news release contains certain statements which constitute forward-looking statements or information. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Loop's control, including the impact of general economic conditions, industry conditions, and competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Loop believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Loop does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Loop should be considered highly speculative. There can be no assurance that Loop will be able to achieve all or any of its proposed objectives.
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.
SOURCE LOOP Insights Inc.
For further information: Loop Insights Inc.: Rob Anson, T: +1 877-754-5336 Ext. 4, E: [email protected]; CHF Capital Markets: Cathy Hume, CEO, T: 416-868-1079 x 231, E: [email protected]; LOOP Website: www.loopinsights.ai; Facebook: @LoopInsights; Twitter: @LoopInsights; LinkedIn: @LoopInsights