Vancouver, Canada / May 17, 2021 / Perk Labs Inc. (CSE: PERK / OTCQB: PKLBF / FKT: PKLB) (“Perk” or the “Company”), the parent company of Perk Hero, the mobile commerce platform with perks on curated lifestyle products and digital gift cards, today announced a comprehensive technology upgrade, which includes a new merchant payout system, universal shopping cart and single sign-on.

All of the architectural changes will support the scalability and fast, frictionless experience that Perk Hero merchants and customers require and expect.

“This has been a significant investment on our part and is fundamental to our strategy moving forward,” said Jonathan Hoyles, CEO, Perk Labs. “We are committed to pioneering the next generation of mobile commerce and digital loyalty rewards through rapid product innovation.”

The new merchant payout system is a new and unique method for merchants to connect their bank accounts to Perk’s platform when they sign up to Perk Hero and to receive payment for products sold through Perk Hero. Previously, Perk Hero relied on Stripe’s platform to connect with and payout to bank accounts and did not have the desired controls, insights and reporting functionality with respect to merchant payouts. The new Perk payout system allows Perk Coin product development to be more loosely coupled, which will allow for faster innovation, testing and scalability, and is a required step towards Perk Coin becoming a blockchain-based rewards platform.

The new universal shopping cart feature makes it easy to shop simultaneously from a variety of brands and retailers on Perk Hero. Previously, while the checkout process was easy, customers were limited to checking out at only one merchant at a time. Now, with universal shopping cart, customers will be able to add multiple items from various retailers to their cart and checkout all together on Perk.

“We believe that the easier we make it for our customers to shop on our site, the longer they will stay there and browse through the catalogue; and the quicker we can lead someone to a checkout, the more likely it is that they will actually go through with a purchase,” explained Jonathan Hoyles, Perk Labs CEO.

Development of the universal shopping cart and the new payout system is complete and Perk plans to complete the migration of all merchant customers from Stripe payouts to the new payout system and deploy universal shopping cart by the end of the month.

Perk’s new single sign-on feature streamlines the login experience for new and existing customers across multiple platforms. Customers and merchants can now sign up or sign in to both Perk Hero’s mobile app or website using their Google or Apple account, in addition to their phone number. By making the sign-up process simpler and more seamless, Perk believes that it will increase its conversion rate for customers that visit its app or website and then sign up as registered users.

Perk also announced that Michelle Berg has joined the Company as its new Director of Marketing and will oversee the Company’s new marketing campaign that will begin rolling out over the next two weeks and fully ramp up in the next quarter. Michelle was previously the Group Lead at Major Tom, an industry-leading marketing agency.

Michelle is a full-stack marketing professional with expertise in the area of digital marketing, including Google ads, paid social ads, analytics, landing page optimization, and SEO. Perk also announced today that Daniel Zou has transitioned from the role of COO to an advisor to the Company and will continue to advise the Company on mobile business growth, strategic partnerships, and enterprise merchant expansion strategies.

About Perk Labs Inc.

Perk Labs Inc. (CSE: PERK) (OTCQB: PKLBF) (FKT: PKLB) is the owner of Perk Hero, the mobile commerce platform on a mission to make shopping experiences more engaging, convenient, and rewarding. Perk has partnered with vetted specialized brands across North America to bring its customers products that are eco-friendly, natural, organic, and ethically sourced. Consumers can also buy digital gift cards from top merchants that include gaming and electronics, apparel, dining, and more. The Perk Hero platform, currently available in Canada and the US, was engineered for reliability and scale using enterprise-level technology fit for businesses of all sizes. The platform also features Shopify integration, contactless payments using Apple Pay, Google Pay and Alipay, as well as its own digital currency called Perk Coin, a gamified loyalty program, e-commerce dropshipping capabilities, pre-order and pick up, and in-store payments with a QR code.

For more information about Perk Labs, please visit www.perklabs.io. Visit Perk Hero at www.perkhero.com

For more information, please contact:

Jonathan Hoyles

CEO

Perk Labs Inc.

(833) 338-0299

investors@perklabs.io

 

Iryna Zheliasko, Manager,

Corporate Communications

CHF Capital Markets

416-868-1079 x 229

iryna@chfir.com

 

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

 Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “may”, “believe”, “thinks”, “expect”, “exploring”, “expand”, “could”, “anticipate”, “intend”, “estimate”, “plan”, “pursue”, “potentially”, “projected”, “should”, “will” and similar expressions, or are those, which, by their nature, refer to future events. These forward-looking statements, which involve risks and uncertainties, relate to, among other things, the discussion of the Company’s business strategies and its expectations concerning future operations, that platform upgrades will improve performance and accelerate growth, the rollout of Perk’s new payout system and universal shopping cart, that Perk’s new payout system will allow for faster innovation and Perk Coin becoming a blockchain-based rewards system, and Perk’s plan to migrate all merchants to the new payout system and deploy universal shopping cart by the end of the month. Although the Company considers these forward-looking statements to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking statements. Undue reliance should not be placed on such forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.

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