Perk Labs Sees Spike in Sales and Prepares for Busy Holiday Shopping Season

Vancouver, Canada / November 24, 2020 / Perk Labs Inc. (CSE:PERK / OTCQB:PKLBF / FKT:PKLB) (“Perk” or the “Company”), the parent company of Perk Hero, the mobile commerce platform with exclusive rewards on e-gift cards and curated goods, is pleased to report an increase in the dollar volume of purchases transacted through its app in the month of November, highlighted by a notable spike in the number of gift card purchases from customers in multiple locations across Canada, as well as a surge in signing up new eCommerce merchants to its app.

“We are happy to see a recent spike both in the number of transactions and merchants signed up on our app. This indicates that Perk is on the right track and we want to keep the ball rolling. As consumers move to online shopping amid the pandemic restrictions, gift cards are proving to be a preferred touchless way to spread some much-needed holiday cheer. We are pleased to provide our customers with exclusive offers on high-quality goods and digital gift cards as well as an opportunity to earn rewards by referring Perk to their friends,” says Perk Labs CEO Jonathan Hoyles.

Unlike any other year, this holiday season will see a huge shift towards online shopping due to COVID-19 limitations. Consumers have adjusted their shopping behaviours, and Perk intends to make use of this shift.

To continue on the recent growth trend, Perk will be running a series of exclusive sales and special bonus cash back reward promotions on high-quality products and digital gift cards leading up to Black Friday and Cyber Monday. The Company is currently offering special bonus cash back rewards on digital gift cards for PlayStation, Nintendo, Xbox and Indigo. These promotions are timely as PlayStation and Xbox recently released their next generation of gaming consoles.

Perk would also like to provide an update on its At-The-Market Program. Since commencing the program, the Company has raised $333,000, of which $170,675 has been raised in the month of November. The financing proceeds strengthen the Company’s balance sheet and will allow Perk to expand its sales and marketing efforts.

Looking forward into the new year, the Company has plans to execute on the following:

  • Q1 2021 will be focused on the US expansion, offering US digital gift cards, and enhanced merchant tools.
  • Q2 2021 will continue to focus on the US expansion, as well as launching a virtual shopping assistant and group buying.
  • Q3 2021 will focus on an AI recommendation engine and API integrations.

For the remainder of 2020, Perk will continue to focus on growing its supply of merchants, new customer acquisition, and promoting its products throughout the holiday shopping season.

About Perk Labs Inc.

Perk Labs Inc. is the owner of Perk Hero, the mobile commerce platform with exclusive perks on e-gift cards and curated goods. For more information about Perk Labs, please visit  www.perklabs.io

For more information contact:

 Jonathan Hoyles, CEO

Perk Labs Inc.

(833) 338-0299

investors@perklabs.io

 

Iryna Zheliasko

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, expectations of sales during the holiday shopping season, demand from customers for the Company’s sales and offers during Black Friday and Cyber Monday, and the Company’s sales and marketing efforts, the Company’s plans to expand into the US, offer digital gift cards in the US, enhance its merchants tools, launch a virtual shopping assistant, group buying capability, AI recommendation engine and API integrations. 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 / November 17, 2020 / Perk Labs Inc. (CSE:PERK / OTCQB:PKLBF / FKT:PKLB) (“Perk” or the “Company”).

Dear Shareholders,

In October 2019, I released my first Letter to Shareholders setting out our plan to put the Company on a new path for growth and emphasizing our determination to focus on the right priorities and revenue drivers in order to improve business operations and ultimately, maximize shareholder value.

A year later, I would like to review what has worked for us during this timeframe and provide an outlook for the next year, taking into account both internal developments and external conditions.

The COVID-19 pandemic has disrupted the daily lives of people everywhere. Some of the changes, however, such as the accelerated shift from in-store purchasing to online and digital, present tremendous new opportunities for our Company. Following these recent shifts in consumer behaviour which we believe to be permanent, we have re-evaluated and shifted our efforts and priorities accordingly.

In this letter, we will discuss the following:

  1. Pursuing Bigger Market Opportunities
  2. The Food & Beverage Industry
  3. Sales and Marketing
  4. Financial Condition and Investor Relations

Pursuing Bigger Market Opportunities

 We have received feedback from several long-term shareholders suggesting we “think big” and pursue larger market trends and opportunities in the United States. We agree. We have been developing new revenue strategies and technologies for our Company that we believe can be scaled internationally and in which we can achieve a higher return on capital. We have identified three distinct business lines where we see tremendous opportunities for growth:

  1. Mobile Commerce and Dropshipping
  2. Merchant Solutions
  3. Digital Gift Cards

An advantage of these three business lines is that we are no longer restricted by the limitations of regional geography –  you can buy a digital gift card or e-commerce product from anywhere (as opposed to buying food from a restaurant in Vancouver requiring you to be in Vancouver). Our goal is to carve out a leadership position in each of the three categories identified above. These moves reflect a major step in our efforts to achieve a more diversified base of earning power and a strong desire to establish product lines away from areas of direct competition with major tech giants such as Uber who have bigger marketing and operating budgets that help them obtain market dominance.

Mobile Commerce and Dropshipping

We recently developed the capability to enable both brick & mortar and e-commerce businesses to sell their products through the Perk Hero app, without having to add any inventory or shipping capabilities. Online and mobile commerce selling, relative to restaurant delivery and payment, is characterized by much lower variable costs (e.g., each restaurant must be supplied with an iPad to accept orders) and we can charge a higher commission on the sale of items. We have already started building a marketplace of unique items and exclusive offers for our end-user customers.

According to a report by ResearchandMarkets.com, the global dropshipping market was valued at US$ 162.44 billion in 2019 and is projected to reach US$ 591.77 billion by 2027; it is expected to grow at a CAGR of 18.3% from 2020 to 2027.[1] According to a report by Shopify, global e-commerce sales are expected to top $4.2 trillion USD in 2020 and reach more than $6.5 trillion by 2023.[2]

Within our app, we are able to provide merchants with a mobile storefront and digitally notify the business of orders placed through the app. The merchant then ships the products directly to the customer. As part of our digital loyalty flywheel, we promote our mobile commerce merchants to customers with targeted email advertising and push notifications thus helping the Merchant increase their customer acquisition and product sales. We see opportunity to  position our Company as an alternative to marketplaces such as Amazon, where we can curate a collection of high quality independent eCommerce sellers with unique products not sold on Amazon and connect them with discerning customers looking for high quality goods from sellers in Canada and the USA. Although Amazon is formidable competition in this market, Bookshop is a current example of a company challenging Amazon in one of its prime market areas and being successful having grown from selling US$50,000 of books in all of February to selling US$1 million of books in a day in June and raising financing of US$7.5 million.

Merchant Solutions

The second growth opportunity is helping SMB (small and midsize business) merchants to build mobile store fronts in Perk Hero app in an easy way and enable them to conduct business even when their brick and mortar stores are closed or restricted during the pandemic. Offline SMB merchants are an underserved group that forms a majority of the local economy. We are developing a Software-as-a-Service business model that serves their needs, during this historic crisis and opportunity, by utilizing QR codes for products and services ordering, customer information management and marketing. The Company’s positioning as a mobile commerce platform will tap into the huge demand of a physical economy that is largely ignored by the e-commerce community.  We believe this strategy will help us grow our footprint in both merchants and consumers in a meaningful way.

Digital Gift Cards

As a third revenue opportunity, we have identified the offering of digital gift cards as a key driver for growth moving forward. The industry is growing rapidly: according to the report published by Allied Market Research, the global gift cards market generated $619.25 billion in 2019, and is estimated to reach $1.9 trillion by 2027, registering a CAGR of 15.4% from 2020 to 2027.3

We tested out demand for gift cards in the last two weeks of August. The revenue earned by the Company in the third quarter was primarily generated by this test program. As recently announced, we are now offering digital gift cards through an agreement with InComm Payments, a leading pre-paid product and payments technology company. We are now able to offer something we could not do before: allow customers across Canada (not just Vancouver) to use our app to purchase products from their favourite national and global brands.

The Food & Beverage Industry

Since Glance Pay’s inception, the Company has always focused on the food and beverage industry. Our plan with Perk Hero was to gradually phase out Glance Pay, which focused on in-restaurant payment,  and replace it with our new app, Perk Hero, which features mobile ordering, in-restaurant payment, and a universal rewards program. We identified mobile ordering as a necessity for restaurants and a great entry point to offer additional mobile payment services. We thought it was logical to leverage our existing Glance Pay restaurant merchant base in order to grow our platform.  As we were planning to transition from Glance Pay to Perk Hero, the COVID-19 pandemic caused in-dining restaurants to temporarily shut down operations. We then moved quickly to launch a minimum viable product version of Perk Hero which was better suited to the new COVID-19 environment as it allowed restaurants to accept orders for curbside pick-up and we shut down Glance Pay to save on maintenance costs.

We recognized and heard complaints from our restaurant partners that the big delivery platforms were charging egregious fees of up to 30% per order. We saw an opportunity and attempted to position our product as a more affordable and sustainable solution for restaurants. Ultimately, this did not work: the shutdowns caused by the pandemic resulted in the big delivery platforms acquiring many new restaurants which are increasingly dependent on those platforms. We have seen the overall volume of in-restaurant payments decline and the number of insolvencies and business closures in the restaurant industry rapidly increase. This is intensifying with a second wave of COVID-19.  The big delivery platforms responded to industry complaints about their fees by reducing them on pre-order and pickup (but not delivery) and by providing their end users with discounts of up to 75% to drive usage of their platforms. The food delivery industry is a textbook market share war where the big platforms are using their war chests and economies of scale to drive other competitors out of business.

Since launching our new app, we’ve had positive response from restaurants about our low fees and gamified rewards, however, consumers tend to choose to use the platforms that offer the lowest price and best discounts: currently the lowest prices offered are subsidized by the shareholders of the big delivery platforms. Unless market conditions change, our efforts for the immediate future will be focused on the mobile commerce, digital gift cards and other opportunities as explained in the first part of this Letter.

Sales and Marketing

In order to successfully achieve the ambitious goals we have set out in our new business lines and grow our gross merchandise volume, we will need to have a powerful sales and marketing capability.

I’m pleased to report that since Daniel Zou joined our team as our new COO, we’ve witnessed a turnaround in our sales and marketing culture. Daniel was previously the Head of Business Development for Alipay Canada. Results-driven, Daniel brings a wealth of expertise and experience to our organization. It has been exciting to see the impact he has had on the performance of our team which has been focused on increasing our gross merchandise volume (GMV), which, in turn, drives our revenue. We have already started to see the early fruits of the team’s efforts.

As mentioned earlier, we have started to “think big” and you will see this reflected in our marketing campaigns – we are no longer taking a regional approach and are instead pursuing a national campaign strategy. As soon as possible we will launch our sales and marketing campaigns in the US market. We have also updated our consumer marketing strategy to appeal to a larger demographic. Several shareholders have pointed out our overreliance on using animated characters and promoting the gamification elements of our app which prompted us to change the way we position our products on the website and in the marketing materials.

To scale up our sales and marketing operations, we have also developed and recently launched an affiliate program. Our affiliates will receive a commission on the GMV that is generated by merchants they sign up for our app. This allows us to augment our sales and marketing capabilities without making a major capital investment.

Financial Condition and Investor Relations

 Our ambitious plans are premised on our ability to continue funding our business. In 2019, we undertook cost cutting measures. Our disciplined approach to costs has continued through 2020. We will continue to be nimble and adapt our business model as market conditions evolve.

We currently have three main avenues for funding:

  1. Revenues: We are working to grow our revenues as quickly as possible to help fund operations and demonstrate a growth trajectory to our shareholders.

 

  1. Marketable Securities: We own publicly traded stock in Better Plant Sciences Inc. that we can liquidate over time. We also own 8,500,000 shares in a private company Euro Asia Pay Holdings Inc. that was issued a final receipt on its final long form prospectus in October of this year. If that company completes an initial public offering, we will be able to divest those shares over time.

 

  1. At-the-Market Program: We will continue to work with Echelon Wealth Partners to sell Perk Labs through our at-the-market offering. We’ve already raised over $200,000 from our At-the-Market Program prior to any spending on investor relations.

We remain optimistic that these avenues will support our plans.

We are always looking at new opportunities to expand our operations. While our present liquid resources in cash and marketable securities are available to fund our Company, we are also open to partnerships, joint ventures, and other opportunities to grow our business. We might also refer to a debt financing if we come across any attractive business opportunities.  Our goal is to obtain a reasonably stable and substantial level of earning power commensurate with the capital employed in the business.

Our stock and the overall market have had extreme fluctuations due to multiple factors. While we typically do not discuss the performance of our stock price in our press releases or communications with shareholders, this year has been far from typical and we decided to make an exception.

One factor that we thought relevant to highlight is the final release of Founder’s shares from escrow on September 7th, 2020. We see this as a positive development for our shareholders.  We believe that our Founder shares represented a longstanding overhang for our Company’s stock. Now that original Founders hold a much smaller number of shares, over time it should contribute to stabilizing our stock price.

We are encouraged by the messages from some of our long-term shareholders about them growing their ownership in our Company. Owners differ from tenants, and long-term thinking is a requirement of true ownership. We believe that a focus on short-term results or short-term stock market consequences will, in large part, attract shareholders who focus on the same factors. Therefore, our focus will remain on long-term results and the ability to generate revenue at a high-profit margin.

Final Thoughts

At Perk Labs we believe the companies that will thrive in the future are those that can adapt quickly. COVID-19 threatened our prior model and in a very short period of time we have shifted, pivoted, and adapted to a new model and made tremendous strides to set us up for success. With a smaller more nimble and focused team we have achieved a great deal and proven to ourselves we are more than capable of thriving in this new economy.

I thank the Perk Labs’ team and the Board for their continued commitment to advancing our plans forward. We have a lot of work ahead of us, but we are clear on our priorities and are addressing them with focus and energy.

We will be executing on the plan we have laid out to create value for our shareholders and our customers. Thank you for your support and encouragement.

About Perk Labs Inc.

Perk Labs Inc. is the owner of Perk Hero, a mobile commerce platform with cashback rewards on e-gift cards and curated goods. For more information about Perk Labs, please visit www.perklabs.io

For more information contact:

Jonathan Hoyles, CEO

Perk Labs Inc.

(833) 338-0299

investors@perklabs.io

 

Iryna Zheliasko

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 changes caused by COVID-19 present tremendous new opportunities for our Company, that the new business lines of mobile commerce and dropshipping, merchant solutions and digital gift cards provide a tremendous opportunity for growth, that new revenue strategies and technologies can be scaled internationally and we can achieve a higher return on capital, that the size of the global dropshipping market will reach US$ 591.77 billion by 2027, that we can position our Company as an alternative to marketplaces such as Amazon, that we will be able to develop a Software-as-a-Service business model and there will be demand for these solutions, that we will be able to fund our plans through our revenues, marketable securities, and At-the-Market Program; that the final release of Founders’ shares will contribute to stabilizing the Company’s stock price. 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.

[1] https://www.businesswire.com/news/home/20201009005175/en/Dropshipping-Market-Forecast-to-2027—Global-COVID-19-Impact-and-Analysis-by-Product-Type-Organization-Size-and-Geography—ResearchAndMarkets.com

[2] https://www.shopify.com/enterprise/the-future-of-ecommerce

3 https://www.alliedmarketresearch.com/gift-cards-market

 

Perk Labs Announces Amendments to Stock Option Plan and RSU Plan

Vancouver, Canada / November 4, 2020 / Perk Labs Inc. (CSE:PERK / OTCQB:PKLBF / FKT:PKLB) (“Perk” or the “Company”) the parent company of Perk Hero, the mobile commerce platform with cashback rewards on e-gift cards and curated goods, announced today that it has amended its stock option plan and restricted share unit plan (the “Amended Plans”) to increase the number of common shares that may be reserved for issuance under the Plans from 10% to 15% of the Company’s issued and outstanding common shares. The Company also amended its stock option plan to reduce the minimum exercise price from CAD $0.10 to $0.05.

The amendments to the Plans and grants of restricted share units or stock options under the Amended Plans are subject to disinterested shareholder approval which will be sought at the Company’s next annual and special meeting of shareholders.

Several members of Perk’s Management and Board have made a decision to be partially compensated in RSUs in lieu of cash compensation moving forward as part of ongoing efforts to prioritize Company’s business development initiatives that will drive shareholder value.

About Perk Labs Inc.

Perk Labs Inc. is the owner of Perk Hero, a mobile commerce platform with cashback rewards on e-gift cards and curated goods. For more information about Perk Labs, please visit www.perklabs.io

For more information contact:

Jonathan Hoyles

CEO

Perk Labs Inc.

(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. 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 Launches Affiliate Program to Grow Mobile Commerce Marketplace

Vancouver, Canada / November 2, 2020 / 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 cashback rewards on e-gift cards and curated goods, announced today that it is launching a new affiliate program.

With the new affiliate program, small to medium businesses, independent software vendors, social media influencers, bloggers, website owners, trade associations, self-employed entrepreneurs, and professional and individual affiliate marketers can earn commission from signing up Perk Hero merchants and the sale of  products through the Perk Hero platform.

“We are looking for affiliates with the desire and ability to spread the word about Perk Hero’s mobile commerce platform, which we believe is especially timely given the current situation where many individuals are increasingly looking for ways to earn additional income that can be generated from home and online,” explains Daniel Zou, Chief Operating Officer at Perk Labs. “As a member of our Affiliate Program, you will not only earn a percentage on sales of products from the merchants that you sign up to our platform, but we plan to also provide you with a unique affiliate QR code and link that you can use to leverage SMS, chat apps, websites, blogs, and social media and receive a commission on digital products such as e-gift cards.”

Affiliates can sign up for the program for free and immediately begin sharing Perk Hero’s products and services through their own channels. An application form for the Affiliate Program is available at   https://perkhero.com/affiliate-program/

Benefits of signing up for the lucrative new Affiliate Program include:

  • earning commission of up to 30% of the net profit on every order made on the Perk Hero platform from the merchants signed up by the Affiliate
  • training on how to develop and execute a detailed business plan to pursue, manage and grow revenue opportunities
  • instant access to sales and marketing collateral

Perk Labs also announced today that it has engaged CHF Capital Markets (“CHF”), a highly-regarded Canadian investor relations and capital markets firm. Effective immediately, CHF is tasked to handle Perk Labs’ corporate communications, shareholder relations, investment industry outreach, and social and digital marketing. As part of the compensation for the engagement, CHF will be granted 600,000 stock options.

The latest news and information about Perk Hero’s features can be found at www.perkhero.com and stakeholders can read about the Company’s strategy and ongoing advancements in technology on the Company blog, which can be viewed at https://medium.com/@perk_labs.

About CHF Capital Markets

CHF Capital Markets (www.chfcapital.com) is a Toronto-based firm specializing in Investor Relations. With more than 80 years of collective IR & Capital Markets experience, CHF has been a trusted partner for many public companies in Canada and worldwide, operating in a broad range of industries including Mining, Technology, Financial Services, Healthcare, Oil & Gas, and Special Situations.

Its team consists of a diverse pool of talent that combines analytical and creative skills – high-profile communications and investment industry specialists, digital media experts, content creators and graphic designers – making it a one-stop shop for all your communication needs in the public sector.

About Perk Labs Inc.

Perk Labs Inc. is the owner of Perk Hero, a mobile commerce platform with cashback rewards on e-gift cards and curated goods. For more information about Perk Labs, please visit  www.perklabs.io

For more information contact:

Jonathan Hoyles

CEO

Perk Labs Inc.

(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 growth of the Perk Hero’s mobile commerce marketplace, Perk Hero’s plans to provide affiliates with a unique QR Code and link for affiliates to receive commissions on the sale of digital products, and the size of the revenue opportunities available through the Perk Hero affiliate program. 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 Entering Digital Gift Card Market

Vancouver, Canada / October 29, 2020 / Perk Labs Inc. (CSE:PERK / OTCQB:PKLBF / FKT:PKLB) (“Perk Labs” or the “Company”) the parent company of Perk Hero, the mobile commerce marketplace with cashback rewards, announced today that it has signed an agreement with InComm Payments, a leading payments technology company, to distribute digital gift cards in Canada.

The agreement with InComm Payments provides Perk Hero with the flexibility to build its own in-app programs and innovative front-end while relying on the robust InComm InCentives platform to power the delivery and management of digital gift card products.

“Offering high demand products such as digital gift cards, we are able to offer the best value to our users by saving them money through our partnership with InComm Payments. By distributing digital gift cards to our users, we can help them avoid costly fees plus earn cashback rewards,” says Jonathan Hoyles, Perk Labs’ CEO. “We have already seen demand from our users for physical gift cards and view sales of digital gift cards as a key driver of growth moving forward.”

Gift card brands that will be available through the Perk Hero app include online shopping, streaming services, gaming, home improvement and major restaurant chains.

“Perk Hero represents an exciting solution that appeals to the Gen Z and Millennial demographic,” says Joe Everson, Director of Business Development at InComm InCentives. “This partnership benefits Perk Labs users with the ultimate customer experience: an instant redemption of digital gift cards of the brands they love.”

According to the report published by Allied Market Research, the global gift cards market generated $619.25 billion in 2019, and is estimated to reach $1,922.87 billion by 2027, registering a CAGR of 15.4% from 2020 to 2027.[1]

The latest news and information about Perk Hero’s features can be found at www.perkhero.com and stakeholders can read about the Company’s strategy and ongoing advancements in technology on the company blog, which can be viewed at https://medium.com/@perk_labs.

About InComm Payments

InComm Payments is a global leader in innovative payments technology. Leveraging dynamic technology and proven expertise, InComm Payments delivers enhanced end-to-end payment platforms and emerging financial technology solutions that help businesses grow across a wide range of industries including retail, healthcare, tolling & transit, incentives, mobile payments and financial services. By enabling omnichannel connections to an ever-expanding consumer base in an increasingly digital ecosystem, InComm Payments creates seamless and valuable commerce experiences across the globe. With more than 25 years of experience, over 500,000 points of distribution, 386 global patents and a presence in more than 30 countries, InComm leads the payments industry from its headquarters in Atlanta, Ga. Learn more at www.InCommPayments.com.

About Perk Labs Inc.

Perk Labs Inc. is the owner of Perk Hero, a mobile commerce marketplace with cashback rewards that enables businesses to provide their customers with a more engaging and convenient customer experience. For more information about Perk Labs, please visit www.perklabs.io

For more information contact: Jonathan Hoyles

CEO

Perk Labs Inc.

(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 demand for gift cards, the size of the gift card market, and gift cards being a key driver of growth for the Company moving forward. 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.

[1] https://finance.yahoo.com/news/gift-cards-market-expected-generate-141801969.html

 

Pin It on Pinterest