Perk Labs Reports Second Quarter 2021 Results

This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated February 17, 2021 to its short form base shelf prospectus dated July 17, 2020.

 Vancouver, Canada, July 29, 2021 ― Perk Labs Inc. (CSE: PERK / OTCQB: PKLBF / FKT: PKLB) (“Perk Labs” or the “Company”) the parent company of Perk Hero, the mobile commerce platform with exclusive perks on curated lifestyle products and digital gift cards, today announced financial results for the second quarter ended May 31, 2021.

Overview

During the second quarter, Perk Hero iterated on its platform with the release of a universal shopping cart, a proprietary payout system and multiple optimizations for users. These upgrades were a top priority for the Company in order to allow customers to shop simultaneously from a variety of brands and retailers on Perk Hero and to improve controls, insights and reporting functionality with respect to merchant payouts. A number of user interface upgrades were made to optimize navigation and checkout functionality.

The Company also hired Michelle Berg as Director of Marketing to help scale customer demand and acquisition as well as lead the Company’s branding, messaging and communications strategy. Previously, she was a group lead at Major Tom, an industry leading marketing agency.

“Perk Hero has a unique marketplace with products and gamified digital rewards that appeals to today’s shoppers,” said Ms. Berg. “I am excited to help build the Perk Hero brand and raise awareness to this new marketplace through data-driven digital marketing campaigns.”

The Company continues to prudently manage its working capital with $1.9 million cash on its balance sheet and $2.0 million in marketable securities. This has allowed us to invest more into research and development and accelerate our marketing efforts which we will continue to optimize in the coming quarters.

“We enter the second half of 2021 with a significantly improved and upgraded platform that empowers eCommerce merchants and restaurants with an omnichannel ecosystem that connects their offline business to their digital operations in a simplified way”, said Jonathan Hoyles, CEO, Perk Labs. “One of our top priorities now is to grow customer demand for our merchants by providing consumers with a convenient and highly incentivized way to earn cryptocurrency by simply making purchases through our platform. We are also excited with the prospects of new revenue opportunities such as the licensing agreement with Century Services, which we believe provides a model we can replicate in other cities to expand our business across North America.”

As at May 31, 2021, Perk Hero had 109 restaurants and 128 third-party sellers on its platform with a total of 7,382 products and 91 gift card brands for sale.

2021 Q2 Financial Highlights:

  • Working capital of $3.0M in Q2 2021 compared to $1.9M in Q2 2020 and $792k in Q4 2020.
  • Net loss of $1.3M in Q2 2021 compared to a net loss of $1.2M in Q2 2020.
  • Revenue of $1,085 in Q2 2021 compared to revenue of $1,811 in Q2 2020. Revenue in Q2 2021 consisted primarily of third-party seller transactions which is recognized on a net basis as compared to prior quarters in which the Company sold products from inventory which is recognized on a gross basis. For Q2 2021, the Company’s focus was on improving its platform and checkout process and working on a number of overall quality improvements that were required after implementing upgrades. As such, consumer marketing initiatives were delayed to subsequent quarters until the upgrades and enhancements were complete.
  • General and administration expenses decreased 24% to $295k in Q2 2021 compared to $386k in Q2 2020 as the Company continued to practise cost discipline.
  • Research and development expenses increased 16% to $204k in Q2 2021 compared to $176k in Q2 2020 as the Company continues to invest in its technology platform.
  • Sales and marketing expenses increased 8% to $184k in Q2 2021 compared to $170k in Q2 2020 as the Company continues to test and refine its marketing efforts to maximize return on ad spend.

 2021 Q2 Operational Highlights 

  • Strengthened the balance sheet: During the six months ended May 31, 2021, the Company issued 15,641,000 common shares through its at-the-market offering filed July 29, 2020 at an average price of $0.10 per share for gross proceeds of $1,570,780. Commissions paid were $47,123 for net proceeds of $1,523,657.
  • The Company also issued 6,072,000 common shares through its at-the-market offering filed February 17, 2021 at an average price of $0.12 for gross proceeds of $709,085 and net proceeds of $687,813. As part of the offering, the Company paid commissions of $21,272.
  • Expanded relationship with InComm: The Company signed an agreement with InComm Payments to distribute digital gift cards in the United States. Gift card categories available through the Perk Hero app in the US include online shopping, streaming services, gaming, home improvement and major restaurant chains. Perk has developed an innovative platform for the sale of digital gift cards, allowing users to buy for themselves, send to friends as gifts, save the digital gift card in the Perk digital wallet as stored value, earn cash back rewards on the purchase of digital gift cards, and earn rewards for referring digital gift cards to friends and family.

Highlights Subsequent to 2021 Q2 

  • Implemented a merchant referral program and streamlined merchant onboarding: The Company implemented a merchant referral program whereby people could receive a referral bonus for each successful merchant added to Perk Hero. Paired with Perk Hero’s streamlined onboarding process, this will enable the Company to add additional merchants to its platform more quickly.
  • Initiated development of web-based portal: The Company initiated development of a new web-based internal administration portal that provides its team with more advanced reporting and data analytics and allows it to strengthen and broaden Perk’s internal controls. This is an important tool to be able to analyze the growth of Perk’s business and will be used to configure promotions and the way products and brands are displayed on the app. This internal web-based tool will also form the foundation for a new web-based merchant tool that will provide third-party sellers and restaurants on Perk’s platform with data analytics, catalogue management, and other promotional and sales features.
  • Launched a new channel partner program: Perk Labs signed a reseller agreement with Century Services as its first partner in the program. Under the terms of the agreement, the Company will receive a recurring annual fee in addition to a percentage share of transaction fees. Century will have exclusive reseller rights for the restaurant vertical in the Greater Vancouver region and Perk will provide technical support. To support this new channel partner program, the Company has begun development of a new web-based restaurant ordering tool that is expected to be in high demand from restaurants, many of which are currently experiencing labour shortages.

Outlook

The Company’s strategic priorities for the remainder of 2021 include:

  • Consumer marketing initiatives including digital marketing through programmatic advertising, search engine marketing, improving SEO, advertising on social media channels, influencer marketing, promoting special offers through email, push notifications, and SMS, exhibiting at special events, pop up shop, and product led growth initiatives including Perk Coin incentives for referrals, brand and product reviews, leaderboard status and badges.
  • Continued development of the Perk Hero product through a series of build-measure-learn iterations and expanding upon its omnichannel commerce capabilities.
  • Investor relations initiatives including video updates for investors, hosting investor webinars, taking part in roadshows to meet new investors and attending industry events.
  • Continuing to add useful spending tools that build upon Perk’s existing platform, including enabling customers to make purchases using digital wallets and cryptocurrency.
  • Developing Perk Coin as a blockchain-based digital loyalty reward currency and exploring the conditions and requirements to distribute Perk Coin as a cryptocurrency.

The Company’s complete financial results are available in its Consolidated Financial Statements and Management’s Discussion and Analysis for the quarter ended May 31, 2021, each filed with Canadian securities regulators at www.sedar.com.

IFRS

The operational and financial information in this release is based on the consolidated figures in accordance with International Financial Reporting Standard (IFRS).

 About Perk Labs

Perk Labs Inc. is the owner of Perk Hero, a digital loyalty management platform that enables merchants to provide their customers with digital rewards and a more engaging and convenient customer experience.

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

For more information, please contact:

Norman Tan

Chief Financial Officer

norman@perkhero.com

833-338-0299

investors@perklabs.io

 

CHF Capital Markets

Iryna Zheliasko, Manager, Corporate Communications

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 Perk Labs’ business strategies and its expectations concerning future operations, that the Company will provide consumers with a convenient and highly incentivized way to earn cryptocurrency by simply making purchases through its platform, the prospects of new revenue opportunities such as the licensing agreement with Century Services, and that it can provide a model to be replicated in other cities to expand the Company’s business across North America, that the new merchant referral program paired with Perk Hero’s streamlined onboarding process, will enable the Company to add additional merchants to its platform more quickly, that the new web-based portal will be used to configure promotions and the way products and brands are displayed on the app, that the internal web-based tool will also form the foundation for a new web-based merchant tool that will provide third-party sellers and restaurants on Perk’s platform with data analytics, catalogue management, and other promotional and sales features, that the Company’s new web-based restaurant ordering tool is expected to be in high demand from restaurants, the Company’s planned marketing and investor relations initiatives, the continued development of the Perk Hero product through a series of build-measure-learn iterations, that the Company will build an exceptional and world-class brand, that the Company will increase the number of users and merchants using the Perk Hero platform, that the Company will ramp up sales and revenue generation, and the development of Perk Coin as a blockchain-based digital loyalty reward currency and that the Company will explore the conditions and requirements to distribute Perk Coin as a cryptocurrency. Although Perk Labs 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. For additional information with respect to these and other factors and assumptions underlying the forward-looking statements in this press release, see the section entitled “Risk Factors” in the most recent Annual Information Form and Prospectus of Perk Labs, which may be accessed through Perk Labs’ profile on SEDAR at www.sedar.com. Perk Labs cautions investors that any forward-looking information provided by Perk Labs 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.

 

Perk Labs Provides Corporate Update

Vancouver, Canada / July 16, 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 specialty products, mobile payments and digital gift cards, today provided a corporate update.

Highlights:

  • Multiple technology updates and bug fixes to offer the best app experience for customers and merchants
  • Improved internal reporting system to stimulate business growth and provide better data analytics
  • Additional cybersecurity measures to combat fraudulent transactions
  • Adding new products and merchants through new agreements with large dropshipping suppliers
  • Developing a new licensing business model with the aim of providing high-margin annual licensing revenue
  • Road map includes upgrading Perk Coin into a blockchain-based digital reward

Perk Labs CEO Jonathan Hoyles comments:

“Our vision for Perk Hero is ambitious in scope and that is why we’ve made upgrades to our platform this year which include our new web app, multicurrency capabilities, universal shopping cart, and a proprietary payout system. After our recent upgrade of Perk’s shopping cart and payout system, a number of overall quality improvements and fixes were required to optimize the customer experience for our users. We continue to diligently work on these fixes to ensure a seamless experience for customers.

We’ve benchmarked our navigation and checkout against some of the most successful internet companies to improve our checkout experience and reduce cart abandonment. We continue to analyze our data and iterate to optimize our customer experience.

We have developed new anti-fraud tools and procedures to prevent fraudulent transactions. This is an important step to scale up our digital gift card offering and adoption of blockchain technology, as digital gift cards and cryptocurrency are often a target for fraud.

We have also been building a new web-based internal administration portal that provides our team with more advanced reporting and data analytics and allows us to strengthen and broaden our internal controls. This is an important tool for us to analyze the growth of our business and will be used to configure promotions and the way products and brands are displayed on our app. This internal web-based tool will also form the foundation for a new web-based merchant tool that will provide third-party sellers and restaurants on our platform with data analytics, catalogue management, and other promotional and sales features.

Platform improvements have been our top priority until now, and with all the recent upgrades completed, we are in a much better position to concentrate on consumer marketing moving forward.

We continue to add new merchants and products to our platform. We’ve recently connected our platform to some large dropshipping suppliers which has allowed us to increase our product shelf by over 600 items in the last month. We will continue to add more items from these and similar suppliers. We also recently added Delta Airlines and Subway Restaurants to our digital gift card offering and plan to add more digital gift cards in the near future.

We have also been working closely with Century Service to ensure the mutual success of our partnership and to develop a licensing business model that can be replicated in other cities. This licensing model has the potential to provide high-margin annual licensing revenue. We believe that by combining our unique assets with the specialized expertise of our partners we will enable both Perk and our partners to grow most efficiently and quickly in order to serve more customers daily. One of the tools we are developing for this business line is a lite web-based ordering tool so that restaurant customers can order from their table using their phone’s browser. Customers will then be prompted to download our app to earn digital loyalty rewards on future purchases.

Looking forward, we are in the process of planning updates to our product roadmap as the business environment rapidly changes with the easing of pandemic restrictions. We are now seeing a new trend in consumer behaviour as consumers are spending more on restaurants, travel and experiences and less on purchasing items for their homes. Brands are now more than ever focused on designing and delivering seamless integrated experiences for their customers across multiple channels. On top of that, many businesses, especially restaurants, are experiencing a labour shortage as the workforce for certain industries has moved on to other areas. The pandemic has also accelerated consumer adoption of eCommerce, QR code mobile payment and cryptocurrency. We believe that the investments we have made in our platform position us well for the future as the online and offline worlds become one and our platform will be a great solution for offline businesses that are looking for ways to use technology to alleviate the worker shortage. One of our top priorities for this year will be to upgrade Perk Coin to a blockchain-based digital reward. We believe that customers will be much more incentivized by non-breakable, distributed rewards earned via smart contracts that can be accessed in a digital wallet and exchanged for other items of value. We will be providing further updates on our product roadmap and development of Perk Coin in the near future.”

Perk’s goal is to build out an everyday app that offers shopping, food ordering and mobile payments, and the Company is focused on creating a seamless experience and unlocking value for its customers by offering complementary services on a single platform with digital loyalty rewards at its core.

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 and dining experiences more engaging, convenient, and rewarding. Perk has partnered with vetted specialized brands across North America. 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, BitPay 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 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 technology improvements and fixes will optimize the customer experience for our users, that improved internal reporting will stimulate business growth, that additional cybersecurity measures will combat fraudulent transactions, our plans to add new digital gift cards in the near future, that a new licensing business model will provide high-margin annual licensing revenue, that the investments we have made in our platform position us well for the future as the online and offline worlds become one and will be a great solution for offline businesses that are looking for ways to use technology to alleviate the worker shortage, and that customers will be much more incentivized by non-breakable, distributed rewards earned via smart contracts that can be accessed in a digital wallet and exchanged for other items of value. 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.

 

Perk Labs Announces Voting Results Following its Annual General and Special Shareholder Meeting

Vancouver, Canada / June 10, 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 specialty products and digital gift cards,  is pleased to announce the voting results from its Annual General and Special Meeting of Shareholders (the “Meeting”), held on June 9, 2021, at the offices of the Company, Suite 1755 – 555 Burrard Street, Vancouver, British Columbia. At the Meeting, all matters put forward before the shareholders for consideration and approval as set out in the Company’s Notice of Meeting and Management Information Circular, dated May 4, 2021, were approved by a majority of votes cast at the Meeting.

  1. Election of Directors

The five (5) nominees were elected as directors of the Company, to hold office until the next Annual Meeting of Shareholders. The voting results for each nominee are as follows:

  Votes For

% of Votes Cast

– For –

Votes Withheld % of Votes Cast

– Withheld –

Kirk Herrington 19,262,207 86.75 2,941,808 13.25
James Topham 19,281,307 86.84 2,922,708 13.16
Larry Timlick 19,238,831 86.65 2,965,184 13.35
Steve Cadigan 19,287,607 86.87 2,916,408 13.13
Jonathan Hoyles 20,000,205 90.07 2,203,810 9.93
  1. Appointment of Auditors

Appointment of Saturna Group Chartered Professional Accountants LLP as Auditors of the Company for the ensuing year and authorizing the directors to fix the auditor’s remuneration 

Votes For % of Votes Cast

– For –

Votes Withheld

% of Votes Cast

– Withheld –

53,079,659 95.82 2,316,073

4.18

  1. Approval of Amendments to RSU Plan

Approval of amendments to the Company’s restricted share unit award plan as described in the Company’s management information circular dated May 4, 2021. 

Votes For % of Votes Cast

– For –

Votes Against

% of Votes Cast

– Against –

17,625,445 79.38 4,578,570

20.62

  1. Approval of Amendments to Stock Option Plan

Approval of amendments to the Company’s stock option plan as described in the Company’s management information circular dated May 4, 2021. 

Votes For % of Votes Cast

– For –

Votes Against

% of Votes Cast

– Against –

17,636,864 79.43 4,567,150

20.57

 

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 U.S., 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, BitPay 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, 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. 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.

Perk Labs Announces Agreement with Century Restaurant Group and New Channel Partner Program

Vancouver, Canada / June 8, 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 specialty products and digital gift cards, today announced that it has launched a reseller program for its restaurant payment solution and that Century Restaurant Group has signed an agreement to be its first reseller partner.

“We are excited to launch our new reseller program with Century Restaurant Group joining us as our first partner in the program,” said Jonathan Hoyles, CEO of Perk Labs. “We believe that our reseller program will be key to our ability to scale and distribute our restaurant mobile ordering, payment and digital loyalty solution across the North American continent.”

Perk believes that its reseller program offers companies and individuals a lucrative income-generating opportunity in the rapidly growing business of digital payments and ordering. Under the reseller program, resellers have the right to sell Perk’s restaurant ordering and payment solution to restaurants and receive a share of the revenue received on every order. Perk’s restaurant solution includes QR code payment, PayByPhoto, order from table, pre-order and pick-up, self-managed delivery and Perk’s proprietary digital loyalty program. By working with resellers, Perk will be able to scale up its business without having to hire a large sales and operations workforce that would be required to physically support brick & mortar restaurants across North America.

“We are excited to partner with Perk and bring its innovative ordering and payment solution to the restaurant industry,” said Justin Strange, President of Century Restaurant Group. “I believe that ordering and paying directly through your mobile device while sitting at your table is the future for restaurants and the time is right to bring this solution to the market as restaurants begin to re-open following the pandemic restrictions lifting.”

Pursuant to the terms of the agreement with Century, Perk will receive a recurring annual fee in addition to a percentage share of transaction fees. Century will have exclusive reseller rights for the restaurant vertical in the Greater Vancouver region and Perk will provide technical support. The agreement also includes a minimum sales target for Century to achieve over a three-year period.

Perk also announced today that Amazon.ca digital gift cards are now available on its platform in Canada.   Amazon.ca digital gift cards can be purchased by using Perk Coins, which are earned by making purchases on Perk Hero.

 

About Century Restaurant Group

Century Restaurant Group DBA “Century Service” was founded in 2019 by Justin Strange and his team with the goal of bringing a focused digital solution to dine-in restaurants. Century’s model allows customers control over their dining experiences by initiating instant ordering and payment solutions right from their phone – something customers have come to expect with the latest food ordering technologies gaining popularity. Century is excited to pair hospitality professionals with technology that will bring a seamless digital dine-in experience to complement the current model and aid in the recovery of the hospitality industry caused by the pandemic.

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 U.S., 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, BitPay 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, 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 Perk’s reseller program will be key to its ability to scale and distribute its mobile ordering, payment and digital loyalty solution across the North American continent, that its reseller program will be a lucrative income-generating opportunity, and that Perk will be able to scale up its business without having to hire a large sales and operations work force. 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.

Perk Labs Partners with BitPay to Accept Cryptocurrency Payment

Vancouver, Canada / June 1, 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 specialty products and digital gift cards, is pleased to announce that it has partnered with BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment service, to accept cryptocurrency as a form of payment. BitPay is used by brands such as Twitch, AT&T and Dish Networks. As a result of this partnership, Perk Hero will accept a number of cryptocurrency payments including Bitcoin, Bitcoin Cash, Ethereum, and Dogecoin to cater to the growing demand.

“This relationship provides our customers with a convenient option to pay with their preferred digital currency,” says Perk Labs CEO Jonathan Hoyles. “On top of being able to offer a payment method that is less expensive and more secure than credit cards, it also opens up an opportunity to market Perk to the cryptocurrency community. In the past year there has been a surge in cryptocurrency usage and we expect to see cryptocurrency increasingly used for payments, especially as the speed and convenience of paying with cryptocurrency continues to improve.”

The integration with BitPay compliments Perk Hero’s digital loyalty currency, Perk Coin. Whenever customers make a purchase using Perk Hero, regardless of the payment method, customers receive instant digital rewards in the form of Perk Coin that can be used for purchasing digital gift cards and goods and services. In addition to cryptocurrency, Perk Hero also accepts all major credit cards, Alipay and EFT/ACH as payment options.

“BitPay makes accepting crypto a quick and easy process for Perk so they can realize the benefits to receiving payments faster, more secure, and less expensive while expanding on a global scale,” said Stephen Pair, CEO of BitPay. “We see the future of payments on the blockchain and work with customers like Perk to transform how people send, receive, and store money.”

Providing customers with the option to pay with cryptocurrency is an important step in the Company’s plan to further adopt and use blockchain technology for its digital loyalty rewards. The Company previously conducted research and published a whitepaper on blockchain-based digital loyalty rewards and filed a provisional patent application with the United States Patent and Trademark Office directed at methods, systems and techniques for cryptographic token transfers.

Perk’s patent application has been made for a foundational technology that lowers costs and improves speed and efficiency of cryptocurrency transactions, even where the value of the transaction may be relatively small, as well as facilitates converting between cryptocurrencies whose transactions are recorded on different blockchains. It also facilitates storing information of different sensitivity levels on differently permissioned blockchains, which is useful for maintaining privacy.

About BitPay

Founded in 2011, BitPay pioneered blockchain payment processing with the mission of transforming how businesses and people send, receive, and store money. Its business solutions eliminate fraud chargebacks, reduce the cost of payment processing, and enable borderless payments in cryptocurrency, among other services.

BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Card, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses. The company has offices in North America, Europe, and South America and has raised more than $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group, and Aquiline Technology Growth. For more information visit www.bitpay.com.

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 U.S., 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, BitPay 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 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, the demand for cryptocurrency as a payment method, and that cryptocurrency payments will be less expensive than credit cards. 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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