Perk Labs Announces New VP Franchise Sales and Operations and Director of Investor Relations

Vancouver, Canada / January 5, 2022 / 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 mobile payments, today announced the addition of Justin Strange as its new Vice President of Franchise Sales and Operations and Jules Gagnon as its new Director of Investor Relations and Community. Both appointments are effective as of today.

Vice President of Franchise Sales and Operations

In his new role as Vice President of Franchise Sales and Operations, Mr. Strange will be responsible for overseeing the company’s franchise growth and expansion.

“We are thrilled to welcome Justin to the role of Vice President of Franchise Sales and Operations” said CEO, Jonathan Hoyles. “I’ve enjoyed working closely with Justin as a licensee and am impressed by his energy, drive and business acumen. We have full confidence in his ability to continue to accelerate our franchise growth in this expanded position.”

“I am passionate about helping entrepreneurs with innovative solutions and believe the timing is right to aggressively bring Perk’s product to market,”  said Mr. Strange. “I look forward to working with everyone on the Perk team to further push expansion across Canada and internationally.”

As part of Mr. Strange’s compensation, he will be partially compensated with shares of the Company and will be granted 100,000 stock options.

Director of Investor Relations and Community

In Mr. Gagnon’s new role as Director of Investor Relations and Community, he will be responsible for the Company’s investor relations efforts from Montreal, drawing on his relationships with investors, capital markets participants and crypto funds and expertise in building community through platforms such as Twitter, Discord and Telegram.

“Jules brings a unique set of investor relations and community building skills and we are excited to welcome him to Perk” said CEO Jonathan Hoyles. “He will add valuable capital markets, crypto markets, and communications expertise to help us reach and engage with new long-term investors.”

“I’m delighted to join Perk at such an exciting and pivotal moment for the company. The momentum for crypto and web3 related projects is incredible right now, and I am thrilled to join Perk as it prepares to launch its crypto rewards project. I look forward to engaging with investors in Perk and building more awareness in the investor community,” said Mr. Gagnon.

Jules most recently served as Vice President of Investor Relations at High Technology Capital Fund, where he played an integral role in driving investor relations activities for the fund. Previously, Jules was Head of Institutional Sales at Secure Digital Markets where he developed a robust pipeline of broker dealers, family offices, asset managers and crypto funds. He began his career at Coinsquare, a Toronto-based crypto-trading platform, where he earned recognition for achieving top sales month over month.

The compensation for the role of Director of Investor Relations and Community includes the issuance of 100,000 stock options and 200,000 restricted stock units that are subject to a vesting schedule.

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 empower business owners with the digital tools to provide their customers with shopping and dining experiences that are more engaging, convenient and rewarding. Perk Hero is used to order and pay at restaurants, for online shopping and to buy digital gift cards from top brands. The platform features Shopify integration, contactless payments using Apple Pay, Google Pay, BitPay and Alipay, its own digital currency called Perk Coin, a gamified loyalty program, pre-order and pick up, and in-store payments with a QR code. Perk Hero is growing through a unique community-driven digital franchise business that is available to entrepreneurs at an attractive start-up price.

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

For more information contact:

Jonathan Hoyles

CEO

Perk Labs Inc.

(833) 338-0299

investors@perklabs.io

 

Jules Gagnon

Director of Investor Relations & Community

(833) 338-0299

investors@perklabs.io

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 acceleration of franchise growth, and  the launch of Perk’s crypto reward project. 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 Letter to Shareholders

Vancouver, Canada / December 9, 2021 / Perk Labs Inc. (CSE: PERK / OTCQB: PKLBF / FKT: PKLB) (“Perk” or the “Company”).

Dear Shareholders,

For many people 2021 was an unusual and difficult year with many ups and downs. Throughout the year we saw the ongoing effects of the Covid-19 pandemic, extreme weather events, rising inflation, and supply chain disruptions. It was also a year that reminded us how much technology has become an intricate and useful part of our lives as we spent much of our time online and remained connected to one another through video and chat.  As we close out the year, our team at Perk Labs is optimistic about our future as we expect 2022 will be a year that we reap the benefits of many of the long term investments we’ve made. Before we discuss our plans for the upcoming year, we’d like to recap a number of important milestones we recognized in the past year:

  • Advanced our research and development of a crypto loyalty rewards program built on the Solana blockchain protocol.
  • Launched a unique community-driven digital franchise business. This allows us to expand our business more quickly by partnering with community-minded entrepreneurs who have the local knowledge needed to succeed in new territories.
  • Received a new U.S. patent that protects the Company’s rights to one of its inventions for enabling the payments of invoices and bills using a mobile device.
  • Upgraded our platform with a new merchant payout system, streamlined checkout process and single sign-on. The new payout system removed dependencies on third-party processors and was a required step towards developing our own blockchain-based rewards and payment platform.
  • Added multi-currency support and made our platform available to customers in the United States.
  • Built an integration with BitPay to enable cryptocurrency payment on our platform.
  • Euro Asia Pay (EAP) closed its initial public offering providing liquidity for Perk’s stake of 8.5 million shares in EAP.
  • Entered into an agreement with InComm Payments, a leading payments technology company, to sell digital gift cards in the United States.
  • Built a custom app integration that connects to Shopify eCommerce sites. This integration enables Shopify merchants to quickly and easily onboard to our platform through a seamless auto syncing of catalogue information.
  • Raised $2.5M in fiscal 2021 to fund our investments in our platform.

Building upon these milestones, we’d like to share our plans and provide our expectations for the future growth of our business.

The Mission Driving Our Business

As a result of the COVID-19 pandemic, many businesses, especially restaurants, are struggling with staffing shortages, increased costs, and less customer traffic. We’ve made it our mission to empower business owners with the digital tools needed to recover and grow their businesses.  Through our platform, business owners are able to leverage solutions such as contactless QR code-based ordering, multiple mobile payment methods, digital loyalty rewards, and personalized offers and promotions. Small and midsize businesses (“SMBs”) can access these tools through our powerful merchant portal and provide their customers with experiences that are more engaging, convenient, and rewarding.

Our Vision to be a Web3 Native Company

We are witnessing the exciting emergence of Web3 – the next version of the internet that will be decentralized, open, and of greater utility. There has been an explosion and acceleration in the areas of decentralized finance and autonomous organizations, marketplaces for Non-Fungible Tokens (NFTs), and online 3-D virtual environments. In the past year, we’ve glimpsed an exciting new future of interacting in the metaverse and building and accessing virtual communities through NFTs.

In the past when there has been a paradigm shift in technology on this scale such as the emergence of the internet or smartphone, it created disruption and opened new opportunities for businesses that adapt early to these technologies to become new category leaders.  Beyond the current value that we provide to SMBs, we see an opportunity to be at the forefront of this new version of the internet by providing SMBs with a bridge to new Web3 technologies through a crypto loyalty reward program and special access rights NFTs. As an example of how this can work for a brick-and-mortar location, we’ve already witnessed the announcement of the first NFT restaurant in New York City: https://vcrgroup.com/nft/

We believe that investing in this new technology is essential to providing us with a competitive edge. Our vision is for our platform to become the dominant Web3 native digital loyalty platform in North America within the next three years. As discussed in our goals for 2022 below, launching our crypto loyalty rewards program and a special rewards zone that includes NFTs with special access rights attached to them will be key initiatives to realize this vision. By making these Web3 technologies available to SMBs, business owners will be able to attract customers and build loyalty in a new and exciting way.

Why the Timing is Right for our Restaurant Solution

In our last letter to shareholders we discussed the decision to shift our focus away from our QR code ordering and payments solution for restaurants to eCommerce and digital gift cards. We made that decision due to the restrictions at that time on in-dining services at restaurants and competition from delivery apps for pre-order and pick-up services. Since then we’ve seen a mass adoption of the use of QR codes in restaurants as restaurant guests are required to present a QR code-based evidence of vaccination to get into a restaurant and often have to scan a QR code to view the menu.

Due to the labour shortage and increased costs restaurants face as a result of rising inflation, restaurant owners and managers are now more than ever open to using technology to solve the challenges they face to help streamline operations and save costs. Market research is showing over 90% usage rates of QR code payment solutions in many parts of Europe, whereas two years ago it was less than 10%. Similar momentum is building in North America though the market is probably lagging 12-18 months behind. As found in a recent PYMNTS’ Restaurant Readiness Index research report, 33% of restaurant managers see expanding uses of QR codes as imperative for enhancing end-to-end dining experiences. For these reasons, we believe that our solution, especially our web-based QR code ordering, payment and loyalty features, provides tremendous value to restaurant owners and the timing is right to resume sales and marketing efforts to restaurants.

Our Goals for 2022

To achieve our ambitious mission and vision, we’ve set six major goals for the year 2022: (1) launch our crypto loyalty rewards with our new user interface; (2) grow our number of end-user customers and restaurants using our platform; (3) rapid expansion of our digital franchise program in Canada; (4) launch a special rewards zone that includes NFTs; (5) expand our digital franchise program to the United States; and (6) grow our licensing revenue. Let’s spend a moment on each goal.

Launch our crypto loyalty rewards with a new user interface. We’ve invested in a fresh new user-friendly design of our app and website to support our crypto loyalty rewards program that we plan to roll out in Q1 2022. We’ve been making great progress on our crypto loyalty rewards and are aiming to launch this program in January 2022. We see substantial value in offering our crypto loyalty rewards solution to SMBs, including providing businesses a way to reduce their credit card processing costs and provide attractive incentives to customers.

Grow our number of end-user customers and restaurants using our platform. Our goal is to get our solution in as many restaurants as possible by the end of 2022, with a goal of at least 1000 locations by the end of the year. We must work hard to grow the number of customers that sign up to our platform, the number of items they purchase, the frequency with which they make purchases, and the level of satisfaction they have when they do so. With our new user interface, customers will receive crypto rewards for signing up to our services, leaving reviews, and referrals to friends, among other activities.

Rapid expansion of our digital franchise program in Canada. Through our platform we are able to bring tremendous value to franchisees in Canada. We believe franchising is the best way that we can rapidly expand our business at scale and in a low-capital, cost-effective way. One point worth mentioning is that we will be selective in who we partner with as a franchisee as we won’t partner with anyone who is not committed to providing excellent service to customers. We are already onboarding our first franchisee in Ontario and are receiving strong interest from prospective franchisees in cities across Canada.

Launch a special rewards zone that includes NFTs. As part of our loyalty program, we are planning to offer an exclusive special rewards zone. Beyond providing cryptographic provenance for digital art, we see NFTs as a way to provide added value to SMBs by enabling them to offer NFT-based memberships and access passes that provide special benefits at restaurants and other SMBs.

Expand our digital franchise program to the United States. We believe it is important to expand quickly to the US while there remains a window of opportunity to be the leading digital loyalty franchisor in the United States. We will be laying the groundwork for our US expansion plans in Q1 with a goal of expanding to the US in Q2.

Grow our licensing revenue. All of the above plans and goals are in support of growing high-margin revenue. That is the foundation underlying all of our plans. We believe that the licensing fees from our franchising and royalties from our software subscriptions will provide the high margin revenue opportunity that we’ve been building towards.

Longer term Goals

Beyond our goals for 2022, we see plenty of other opportunities for the platform we are building, including:

  • Licensing our technology internationally to master franchisees in other countries, especially those with less developed payments infrastructure.
  • Exposing our crypto loyalty rewards platform to third party developers to allow them to integrate our crypto loyalty rewards into their applications.
  • Expanding our services for existing business lines such as parking and services payments and entering new verticals such as tickets and travel.

Final Thoughts

We have bold and ambitious goals and see substantial opportunity in the markets we are targeting. However, we face many challenges and hurdles, including well-funded competition and the need for continuing investments to meet an expanding market opportunity. To succeed we will need to move quickly with crisp execution and continue to invest in new technologies as we move to establish an enduring franchise.

In the coming years, we expect to benefit from the continued adoption of cryptocurrency and other Web3 technologies. As we begin this next stage of our journey we extend sincere thanks to our customers, shareholders and our team members who are working hard to execute on our ambitious plans.

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 empower business owners with the digital tools to provide their customers with shopping and dining experiences that are more engaging, convenient and rewarding. Perk Hero is used to order and pay at restaurants, for online shopping and to buy digital gift cards from top brands. The platform features Shopify integration, contactless payments using Apple Pay, Google Pay, BitPay and Alipay, its own digital currency called Perk Coin, a gamified loyalty program, pre-order and pick up, and in-store payments with a QR code. Perk Hero is growing through a unique community-driven digital franchise business that is available to entrepreneurs at an attractive start-up price.

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

For more information contact:

Jonathan Hoyles

CEO

Perk Labs Inc.

(833) 338-0299

investors@perklabs.io

 

Jordan Shafi

Account Manager

CHF Capital Markets

(416) 868-1079 x 233

jordan@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 2022 will be a year  that we reap the benefits of many of the long term investments we’ve made, that our platform to become the dominant Web3 native digital loyalty platform in North America within the next three years, that the timing is right to resume sales and marketing efforts to restaurants, six major goals for the year 2022: (1) launch our crypto loyalty rewards with our new user interface; (2) grow our number of end-user customers and restaurants using our platform, including our goal of at least 1000 locations by the end of the year; (3) rapid expansion of our digital franchise program in Canada; (4) launch a special rewards zone that includes NFTs; (5) expand our digital franchise program to the United States; and (6) grow our licensing revenue, that customers will receive crypto rewards for signing up to our services, leaving reviews, and referrals to friends, among other activities, that the licensing fees from our franchising and royalties from our software subscriptions will provide the high margin revenue opportunity that we’ve been building towards, our long term goals of licensing our technology internationally to master franchisees in other countries, especially those with less developed payments infrastructure, exposing our crypto loyalty rewards to third party developers to allow them to integrate our crypto loyalty rewards into their applications, expanding our services for existing business lines such as parking and services payments and entering new verticals such as tickets and travel. 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 Receives Mobile Payment Patent

Vancouver, Canada / November 09, 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 perks on mobile payments, eCommerce, and digital gift cards, today announced the issuance of a new U.S. patent that protects the Company’s rights to one of its inventions for enabling the payments of invoices and bills using a mobile device. U.S. Patent No. 11,170,354 is the first patent issued to Perk Hero.

“We are pleased to enhance our intellectual property protection with this new patent issuance,” said Jonathan Hoyles, CEO, Perk Labs. “This new asset strengthens our licensing programs as we can now license patent-protected technology to potential licensees and franchisees. Ultimately, the grant of this patent symbolizes the underlying capabilities of Perk as an innovative technology disruptor.”

Perk Hero also has the following patent applications pending:

  • Canadian, Australian and European patent applications are pending for the above referenced invention for enabling the payments of invoices and bills using a mobile device
  • Canadian patent application is pending for another invention for enabling the payments of invoices and bills using a mobile device and wireless electronic transactions
  • S. and Canadian patent applications are pending for an invention that allows orders and payments initiated from traditional websites on any platform to be secured via mobile devices utilizing anti-fraud technology
  • S., Australian, Canada, and the UK patent applications are pending for an invention for transferring cryptographic tokens.

The Company anticipates that it will file additional patent applications as it continues to develop its innovative technology.

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 Hero is used to order and pay at restaurants, for online shopping and to buy digital gift cards from top brands. The platform features Shopify integration, contactless payments using Apple Pay, Google Pay, BitPay and Alipay, its own digital currency called Perk Coin, a gamified loyalty program, pre-order and pick up, and in-store payments with a QR code. Perk Hero is growing through a unique community-driven digital franchise business that is available to entrepreneurs at an attractive start-up price.

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

For more information contact:

Jonathan Hoyles

CEO

Perk Labs Inc.

(833) 338-0299

investors@perklabs.io

 

Jordan Shafi

Account Manager

CHF Capital Markets

(416) 868-1079 x 233

jordan@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 the new patent issuance strengthens our licensing programs as we can now license patent-protected technology to potential licensees and franchisees, and that the Company will file additional patent applications as it continues to develop its innovative technology.  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 Reports Third 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, October 29, 2021 ― Perk Labs Inc. (CSE: PERK / OTCQB: PKLBF / FKT: PKLB) (“Perk Labs” or the “Company”) the parent company of Perk Hero, a digital franchiser with an omnichannel commerce platform featuring exclusive perks on curated lifestyle products, digital gift cards and dining, today announced financial results for the third quarter ended August 31, 2021.

Overview

Perk Hero spent the third quarter of fiscal 2021 developing its franchise program and accompanying digital tools. The Company recognized a growing demand for capital-light digital franchises that do not need the significant investments typically required from traditional brick-and-mortar franchises. Its unique solution provides local businesses access to a powerful mobile ordering, payment and digital loyalty platform that allow businesses to accept both web and mobile app orders and run effective promotions. The Company believes that its web-based ordering will be particularly attractive for franchisees to offer to restaurants as it provides a solution for restaurants dealing with a labour shortage crisis and removes the customer friction of having to download an app.

“One of the most attractive things about our new franchise model is that it allows Perk Hero to expand more quickly with community-minded entrepreneurs who have the local knowledge needed to succeed in new territories”, said Norman Tan, CFO, Perk Labs. “Our franchise partners get the flexibility and freedom they desire building their own business while we can focus on investing in our technology platform. What’s more, this expands our revenue streams and improves our gross margins.”

Perk Hero is offering prospective franchisees the opportunity to purchase the rights to an exclusive territory through a five-year franchise agreement, with the initial fee ranging from $25,000 for a small territory, to $35,000 for a larger territory. In turn, franchisees will have the right to register local businesses to Perk Hero’s all-in-one ordering, payments, and digital rewards solution at a standard monthly subscription price of $99/month. Franchisees will earn 70% of software-as-a-service (SaaS) revenue from the business they sign up, with the Company receiving a 30% royalty fee.

For the remainder of the year and early 2022, the Company will be focused on signing new franchisees to its digital franchise program. The digital franchise program will feature robust franchisee reporting and management tools along with a completely revamped user interface for both the Perk Hero app and website. These tools in conjunction with cryptorewards offer truly unique features in the franchise world.

As at August 31, 2021, Perk Hero had 108 restaurants and 149 third-party sellers on its platform with a total of 8,464 products and 98 gift card brands for sale.

2021 Q3 Financial Highlights:

  • Working capital of $2.5M in Q3 2021 compared to $1.1M in Q3 2020 and $792k in Q4 2020.
  • Net loss of $1.1M in Q3 2021 compared to a net loss of $0.7M in Q3 2020.
  • Revenue of $6,447 in Q3 2021 compared to revenue of $10,053 in Q3 2020.
  • General and administration expenses increased to $310k in Q3 2021 compared to $111k in Q3 2020.
  • Research and development expenses decreased to $205k in Q3 2021 compared to $210k in Q3 2020.
  • Sales and marketing expenses decreased to $115k in Q3 2021 compared to $168k in Q3 2020.

2021 Q3 Operational Highlights

  •  Completed phase 1 of its web-based administration portal: The Company completed development of a new web-based internal portal that provides advanced reporting, data analytics and platform management that allows Perk Hero to customize the end-user experience. This tool is the foundation on which Perk Hero’s franchisees, restaurants and third-party sellers will be able to manage their business profiles with Perk Hero including catalogue management, promotions, data analytics, reporting and third-party integrations.
  • New platform upgrades to improve performance: The Company completed a comprehensive technology upgrade that includes a new merchant payout system, universal shopping cart and single sign-on. The Company also optimized performance of its website which helps with loading times and ultimately, customer conversions.

Highlights Subsequent to 2021 Q3

  •  Launched a National Franchise Program: On October 12, 2021, the Company announced the launch of its mobile-first digital franchise system. With this offering, Perk Hero becomes one of a select few franchise systems that offer franchisees the ability to earn recurring SaaS revenue. Coinciding with this launch, Perk Hero showcased its franchise offering at the Canadian Franchise Association’s virtual show in October.
  • Completed phase 1 of its cryptocurrency project with the Jonah Group: The Company completed its project with the Jonah Group that was announced on August 17, 2021. Building upon the Company’s previous research and development, Perk Hero executed a rigorous process to evaluate the market and determine the appropriate blockchain technology on which to build-out its cryptocurrency. The next steps will be to develop the technology while working with securities regulators to ensure full compliance with the appropriate regulatory frameworks. With the development of this technology, Perk Hero will, to the best of its knowledge, be the first franchise system that enables franchisees to leverage the power of blockchain technology.
  • Engaged Fintory to redesign its mobile app: Perk Hero engaged Fintory, a leading design and development agency specializing in user interfaces for startups and world-leading companies, to redesign the Perk Hero mobile app. This redesign will incorporate a revised rewards system and gamification elements coupled with usability and performance improvements.

Outlook

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

  • Signing new franchisees to its digital franchise program.
  • Continued development of the Perk Hero product including implementing a new user interface of its app and website to add new promotional, loyalty and cryptocurrency 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 cryptoreward.

The Company’s complete financial results are available in its Consolidated Financial Statements and Management’s Discussion and Analysis for the quarter ended August 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

Jordan Shafi, Account Manager

416-868-1079 x 233

jordan@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 cryptorewards 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 cryptoreward. 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 Selects Solana and Provides Update on Cryptoreward Development

Vancouver, Canada / October 21, 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 eCommerce, mobile payments and digital gift cards, today announced its plans to build its crypto loyalty reward with Solana, the fastest-growing ecosystem in crypto technology.

Solana is a decentralized blockchain built to enable scalable, user-friendly apps. According to the Solana white paper, the Solana network could theoretically process 710,000 transactions per second (TPS) using a 1 gigabit per second network connection. According to the project’s website, the average transaction fee is $0.00025, far lower than the cost of the average Ethereum transaction at the time of this press release.  Solana Labs, the company behind the network’s software, raised more than $300 million in a token sale led by big-name investors such as Andreessen Horowitz and Polychain Capital. The price of Solana’s SOL token has soared this year as more and more teams decide to build their crypto projects on the Solana blockchain. The SOL token made its debut only 18 months ago and a year ago was worth less than $2 and as of yesterday traded at over U.S. $180.

“Our goal is to build a crypto loyalty reward program that brings crypto to mainstream consumers by rewarding them for purchases made online and in brick & mortar establishments” said Jonathan Hoyles, CEO, Perk Labs. “After an extensive review of available  options, we decided that the Solana blockchain’s high efficiency and low transaction fees provide the best foundation for our platform.”

Perk will continue to work with the Jonah Group on the next phase of its cryptoreward loyalty program development, which will include digital wallet development, microservice API development, testing, smart contract development and deploying Perk’s cryptoreward on the Solana mainnet. In connection with the development of its cryptoreward, Perk will be incorporating new compliance tools and procedures and is working with a leading German Fintech design firm to update its mobile app with a state-of-the-art user interface to include additional reward features and game design elements. Subject to any unforeseen changes, Perk and Jonah estimate that Perk’s cryptoreward will be ready for deployment to the Solana mainnet by mid-January 2022. Perk will provide further updates as it makes progress on its cryptoreward development.

Perk also recently announced its digital franchising program, with the intention to be the first franchise system that enables franchisees to leverage the power of blockchain technology. Perk Labs’ CEO Jonathan Hoyles will be presenting on the Perk Hero digital franchising opportunity at 2 pm EST on October 25, 2021 at the Canadian Franchise Association’s Virtual Franchise Canada Show. For more information on a Perk Franchise, visit  www.perkfranchise.com.

About Jonah Group

Jonah Group is a custom software development company trusted by organizations that are faced with mission-critical business challenges and cannot afford to fail. Jonah Group has built several systems that process billions of dollars’ worth of transactions each year for clients who remain partners. Jonah has successfully developed and deployed a wide range of enterprise systems including online banking applications, equity and mutual fund trading systems, content management systems, credit adjudication and provisioning portals, health care benefits and claims management systems, and fleet management solutions. Its clientele includes many leading names in the financial services and health care industries.

 

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 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

 

Jordan Shafi

Account Manager

CHF Capital Markets

(416) 868-1079 x 233

jordan@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 performance of the Solana blockchain technology and cost of Solana transaction fees, the development of crypto wallet development, microservice API development, testing, smart contract development and deploying Perk’s cryptoreward on the Solana mainnet, Perk’s upgrades to its user interface, and the estimate that Perk’s cryptoreward will be ready for deployment to the Solana mainnet by mid-January 2022.  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.

Pin It on Pinterest