Perk Labs Announces Contactless Web Payment Feature

Vancouver, Canada / September 8, 2020 / Perk Labs Inc. (CSE:PERK / OTCQB:PKLBF / FKT:PKLB) (“Perk Labs” or the “Company”) the parent company of Perk Hero, the all-in-one mobile ordering, contact-free payments and loyalty app, announced today the addition of a web browser payment feature (web pay). Web pay gives customers a contact free payment option that requires no prior app download. This feature is ideal for customers who may prefer not to download a mobile app, such as tourists or those in a quick pay scenario, such as dental office patients, spa, salon or barbershop clients.

The web pay feature gives businesses the opportunity to introduce Perk Hero to their customers, without the requirement of downloading the Perk Hero app in order to complete a contact free payment. After making a web pay payment, users are then prompted to download the Perk Hero app for their next purchase to benefit from the immediate cash back rewards they earn the next time they pay.

“Web pay gives Perk Hero another key market advantage by delivering more payment options for seamless and safe contact-free payments. This safe payment technology is the new standard for business, and we are upholding our commitment to support innovation to help drive revenue growth for business owners,” says Jonathan Hoyles, CEO of Perk Labs.

A customer can scan the Perk Hero QR code with their mobile device, and then be prompted to easily complete their payment with either a credit card, Apple Pay, or Google Pay.

“We’ve researched the most important and viable contact-free payment options and having web pay was a natural advancement. Perk Hero brings the best mobile payment, loyalty and ordering features and we will continue to innovate our platform,” says Mr. Hoyles.

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 Perk Labs Inc.

Perk Labs Inc. is the owner of Perk Hero, a digital loyalty management platform that enables merchants to provide their customers with contact-free payments, digital rewards and 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. 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 New M-Commerce Feature Supporting Dropshipping

Vancouver, Canada / August 26, 2020 / Perk Labs Inc. (CSE:PERK / OTCQB:PKLBF / FKT:PKLB) (“Perk Labs” or the “Company”) the parent company of Perk Hero, the all-in-one mobile ordering, contact-free payments and loyalty app, announced new m-commerce features are now available on the Perk Hero platform with the addition of support for dropshipping merchants.  Perk Hero’s mobile commerce capabilities, also known as mobile eCommerce or simply m-commerce, enables businesses to use the Perk Hero platform to create and manage their mobile storefront and sell their products to consumers purchasing via a mobile device.

“Our new m-commerce feature allows us to enter into the fast growing vertical of direct-to-consumer goods and offer exciting new high quality and niche products to our customers,” says Perk Labs CEO, Jonathan Hoyles. “We empower businesses to provide their customers with an engaging mobile shopping experience and give them access to a new stream of revenue by selling their products through the Perk Hero platform. We further drive engagement and loyalty with our cashback rewards on every purchase.”

By incorporating the dropshipping business model, Perk Hero now has 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. Perk Hero provides merchants a mobile storefront and digitally notifies the business of orders placed through the app, including shipment details. The merchant then ships the products directly to the customer. As part of its digital loyalty flywheel, Perk Hero promotes its m-commerce merchants to customers with targeted digital advertising, increasing direct customer acquisition and product sales.

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 Perk Labs Inc.

Perk Labs Inc. is the owner of Perk Hero, a digital loyalty management platform that enables merchants to provide their customers with contact-free payments, digital rewards and 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, that the combination of our mCommerce feature and dropshipping business model provides Perk Hero a potentially lucrative advantage in one of the fastest growing markets for the sale of consumer goods. 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 Advisory Board Appointment of Mr. Daniel Zou

Vancouver, Canada / August 6, 2020 / Perk Labs Inc. (CSE:PERK / OTCQB:PKLBF / FKT:PKLB) (“Perk Labs” or the “Company”) the parent company of Perk Hero, the all-in-one mobile ordering, contact-free payments and loyalty app, announced the appointment of Mr. Daniel Zou to the Advisory Board. Mr. Zou, formerly Head of Business Development for Alipay Canada, will advise on the Company’s mobile commerce, drop shipping, and s-commerce strategy, including expansion throughout Canada and North America.

Mr. Daniel Zou is a highly regarded expert in the payments and credit industry in both Canada and China. While working with the Canadian division of Alibaba Groups, Alipay, he was instrumental in the growth of their product design, business development and numerous cross functional collaborations.  He is an expert in the areas of payments, product management, data analytics, mobile app marketing and operations. Mr. Zou holds a degree in electrical engineering and an MBA from the University of Toronto.

“Mr. Zou’s caliber, experience and unique background, specifically in the global payments industry, is a tremendous opportunity for our company. We are excited to gain Mr. Zou’s industry expertise and guidance to set in motion the Company’s expansion phase,” says Jonathan Hoyles, Perk Labs CEO.

Prior to joining the Perk Labs Advisory Board, Mr. Daniel Zou was Head of Business Development for Alipay Canada, a global digital payment and lifestyle platform serving over 1.2 billion users globally. Prior to  Alipay, Mr. Zou was the Director, Innovation and Operations of the Ant Group, a technology company focused on bringing inclusive financial services worldwide and the parent company of Alipay. Founded in 2004, Alipay is now the world’s number one mobile payment service organization.

“I am very optimistic about what Perk Labs can accomplish with their technology, in both Canada and the United States.  Their all-in-one mobile app, Perk Hero, brings together important features, uniquely bundled with gamification design to drive user adoption,” says Mr. Daniel Zou.

As part of Mr. Zou’s compensation, he will be compensated with $3,200 per month in shares of the Company and will be granted 150,000 stock options that will vest upon specific milestones including the referral of major businesses to Perk Hero. The stock issued as compensation will be subject to a four month and one day hold period from the date of each issuance, in accordance with applicable securities laws

In March of this year, the Company announced that Perk Hero signed an agreement with Alipay to enable Alipay users to make payments on the Company’s payment platform.

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 Perk Labs Inc.

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

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 including the referral of major businesses to Perk hero. 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 Appointment of New Full Time Chief Financial Officer

Vancouver, Canada / July 30, 2020 / Perk Labs Inc. (CSE:PERK / OTCQB:PKLBF / FKT:PKLB) (“Perk Labs” or the “Company”) the parent company of Perk Hero, the all-in-one mobile ordering, contact-free payments and loyalty app, announced the appointment of Mr. Norman Tan, CFA, to the Company as its full time Chief Financial Officer effective July 30, 2020. Mr. Tan will replace Ms. Tracey St. Denis, who worked part-time in that role.  Mr. Tan was previously the Company’s Vice President of Finance.

We are very pleased to have Mr. Tan in this position. I am confident that his consulting and finance experience will prove incredibly valuable for the next phase of our company’s strategic growth”, says Jonathan Hoyles, CEO of Perk Labs. “We truly have appreciated Ms. St. Denis’ expertise and commitment to our company and wish her continued success in her career.”

In his previous roles, Mr. Tan served as the Chief Financial Officer at Lendified Holdings Inc and before joining Lendified, Mr. Tan was a part of Deloitte’s audit and assurance practice where he worked with finance leaders in industries including fintech, manufacturing and professional services. He has also held roles in management consulting, technology equity research and private equity. Mr. Tan received his B.Comm with Honours from the University of British Columbia, his MBA from Queen’s University and is a Chartered Financial Analyst (CFA).

Prior to joining Perk Labs, Mr. Tan was an investor in the company.  Mr. Tan purchased shares of the Company, when he purchased a total of 217,391 units at 0.046 per unit, as part of the private placement that was completed in January 2020.

“I am honoured to be the Chief Financial Officer for Perk Labs. Their team, technological expertise, product offering, and sheer determination is a testament to the Company’s success. I am excited to roll-up my sleeves and work with the team to develop and implement scalable financial and operational systems that will support Perk labs as it grows into a world class fintech company.” says, Mr. Tan, CFO of Perk Labs.

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 Perk Labs Inc.

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

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, its expectations concerning future operations, and that the Company will grow into a world class fintech company. 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 At-the-Market Equity Program

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, Canada / July 29, 2020 / Perk Labs Inc. (CSE:PERK / OTCQB:PKLBF / FKT:PKLB) (“Perk Labs” or the “Company”) the owner of Perk Hero, the all-in-one mobile ordering, contact free payments and loyalty app, today announced that it has established an at-the-market equity program (the “ATM Program”) that allows the Company to issue and sell up to C$2,000,000 of common shares in the capital of the Company (the “Common Shares”) from treasury to the public, from time to time, at the Company’s discretion. All Common Shares sold under the ATM Program will be sold through the Canadian Securities Exchange or another Canadian “marketplace” (as defined in National Instrument 21-101 – Marketplace Operation) upon which the Common Shares are listed, quoted or otherwise traded, at the prevailing market price at the time of sale.

“The financing proceeds will strengthen our balance sheet and allow us to expand our sales and marketing efforts into new territory. We are also well positioned to grow the number of users and merchants that are using our all-in-one mobile ordering, contact free payments and loyalty app,” commented Jonathan Hoyles, Perk Lab’s Chief Executive Officer, “ATM programs provide an excellent vehicle for raising capital because it can be timed to capital needs and favourable market price movements, can be implemented as-needed with discretion on price and size, and provides immediate access to capital.”

The ATM Program is designed to provide the Company with additional financing flexibility should it be required in the future. The volume and timing of distributions under the ATM Program, if any, will be determined in the Company’s sole discretion. Distributions of the Common Shares under the ATM Program will be made pursuant to the terms of an equity distribution agreement (the “Distribution Agreement”) dated July 28, 2020 entered into between the Company and Echelon Wealth Partners Inc. (the “Agent”).

The ATM Program will be effective until the earlier of the (i) issuance and sale of all of the Common Shares issuable pursuant to the ATM Program or (ii) ATM Program being terminated by the Company or the Agent in accordance with the terms of the Distribution Agreement. Perk Labs intends to use the net proceeds from the ATM Program, if any, for investment in sales and marketing initiatives, to continue development of the Perk Hero app, entering into new verticals and for general working capital purposes. As Common Shares distributed under the ATM Program will be issued and sold at the prevailing market price at the time of the sale, prices may vary among purchasers during the period of the ATM Program.

The offering of Common Shares under the ATM Program is qualified by a prospectus supplement dated July 28, 2020 (the “Prospectus Supplement”) to the Company’s short form base shelf prospectus dated July 17, 2020 (the “Shelf Prospectus”), which were each filed with the applicable securities regulatory authorities in each of the provinces and territories of Canada. The Prospectus Supplement and the Shelf Prospectus are available under the Company’s profile on the System for Electronic Document Analysis and Retrieval (“SEDAR”) website at www.sedar.com. Alternatively, the Agent will send copies of the Prospectus Supplement and the Shelf Prospectus upon request by contacting: 1 Adelaide St. E, Suite 2100, Toronto, Ontario, M5C 2V9, or by email at ecm@echelonpartners.com or by telephone at (416)-572-5523.

Borden Ladner Gervais LLP acted as legal counsel to the Company, and Goodmans LLP acted as legal counsel to the Agent.

This news release does not constitute an offer to sell or the solicitation of an offer to buy the Common Shares, nor shall there be any sale of the Common Shares in any province, state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, territory, state or jurisdiction.

About Perk Labs Inc.

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

For more information, contact: Jonathan Hoyles CEO (833) 338 0299 investors@perklabs.io

Forward-Looking Statements

Certain statements made in this press release may constitute “forward-looking information”, “future oriented financial information” or “financial outlooks” (collectively, “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information may relate to anticipated events or results including, but not limited to: the issuance, sale and distribution of Common Shares pursuant to the ATM Program, including the price, volume and timing of any distributions; the intended use of net proceeds from the ATM Program; and other statements that are not historical facts. Particularly, information regarding our expectations of future results, targets, performance achievements, prospects or opportunities is forward-looking information. Often, but not always, forward-looking statements can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “believe”, “estimate”, “plan”, “could”, “should”, “would”, “outlook”, “forecast”, “anticipate”, “foresee”, “continue” or the negative of these terms or variations of them or similar terminology. Forward-looking information is current as of the date it is made and is based on reasonable estimates and assumptions made by us at the relevant time in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances. However, we do not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws in Canada. There can be no assurance that such estimates and assumptions will prove to be correct.

Forward-looking information involves known and unknown risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur. For additional information with respect to certain of these assumptions, risks or factors, and risk factors relating to the Common Shares, reference should be made to the Prospectus Supplement and the Shelf Prospectus, the Company’s annual information form dated May 7, 2020 for the year ended November 30, 2019 and material change reports filed with the Canadian securities regulatory authorities available at www.sedar.com, and such other continuous disclosure materials as may be filed from time to time by the Company with Canadian securities regulatory authorities.

 

Perk Labs Reports Second Quarter 2020 Results

Vancouver, Canada, July 23, 2020 ― Perk Labs Inc. (CSE:PERK / OTCQB:PKLBF / FKT:PKLB) (“Perk Labs” or the “Company”), today announced financial results for the second quarter and period ended May 31, 2020.

Overview

 In the second quarter, we continued to see a significant reduction in our general and administrative expenses. We also continued investing in our product development.  In response to the decrease in in-restaurant dining transactions, the Company has invested in improvements to its offerings for mobile ordering and contact free payments. As a result of the dine-in restrictions, new users and new restaurants have joined our platform as a way to experience pre-order and pick-up and self-managed delivery.  Further we have expanded into new verticals as other types of business have seen a need to adopt mobile ordering, and contactless payments such as payment by quick response codes or payment by taking a photo of a bill as a better way to serve their customers and provide a safe environment for their employees.

“In the second quarter of 2020, we witnessed an unprecedented level of macroeconomic uncertainty that has disproportionately affected independent local businesses, especially restaurants” says Perk Labs’ CEO Jonathan Hoyles. “In response to this crisis, we made it part of our mission to support local businesses with the mobile-first digital tools to help them recover and prosper. The shift in consumer behavior towards mobile commerce has accelerated as a result of the COVID-19 pandemic.  We believe that by focusing on empowering merchants with digital tools such as mobile ordering, self-managed delivery, contactless payment, and digital loyalty, both we and our merchant partners will be better positioned to emerge from this crisis in a position of strength.”

 Q2 2020 compared to Q2 2019 – Financial Highlights (all figures are rounded to the nearest thousand):

  • Working capital of $1,861,000 at May 31, 2020 compared to $6,947,000 at May 31, 2019 and no long-term debt (May 31, 2019 – $Nil).
  • General and administration expenses decreased for the six months ended May 31, 2020 to $1,022,000 (May 31, 2019 – $3,733,000) as a direct result of right-sizing the Company to respond to our business needs more efficiently with reduced head office expenses and improved accountability and visibility across teams.
  • Sales and marketing decreased for the six months ended May 31, 2020 to $327,000 (May 31, 2019 – $821,000) as a result of tightening expenditures.
  • Net loss of $2,437,000 or $0.02 per share in Q2 2020 compared to net loss of $2,083,000 or $0.02 per share in Q2 2019.

Q2 2020 Financial Highlights:

  • Revenue of $8,000 in Q2 2020 decreased 47% from $15,000 in Q2 2019.
  • Operating expenses of $1,515,000 decreased 71% from $5,158,000 in Q2 2019.
  • Loss from operations was $1,507,000 or $0.01 per share in Q2 2020, decreasing 71% compared to $5,143,000 or $0.04 per share in Q2 2019.
  • Net loss of $2,437,000 or $0.02 per share in Q2 2020 compared to net loss of $2,083,000 or $0.02 per share in Q2 2019.

Q2 2020 Highlights:

  •  Launched Perk Hero. Our new platform features new capabilities: pre-order and pick-up; contactless payment using Apple Pay, Google Pay and Alipay; a gamified loyalty program; and merchant analytics. Perk Hero replaces the Company’s original mobile payment solution, Glance PayGlance Pay experienced a decrease in transactions as a consequence of the closure of in-dining restaurant services due to the COVID-19 pandemic.  In order to save server-hosting and maintenance costs, the Company shut down Glance Pay on April 14, 2020.
  • Appeared on CityTV News. On April 9, 2020, the Company CEO appeared on CityTV News at 11:00 p.m. to discuss the delivery charges by current mobile apps to restaurants.  The profile can be viewed at this link:  https://www.citynews1130.com/video/2020/04/09/canadians-encouraged-to-order-takeout-food/.
  •  Launched a marketing campaign encouraging merchants to sign up for Perk Hero. During the ongoing crisis, the Company is offering special reduced rates to support the restaurant and service industry and small businesses.  This campaign resulted in more than 20 new merchants signing up for the Perk Hero app within the first month of launch.
  • Launched a special promotion to healthcare workers in Vancouver, BC. The Company activated all of its social media channels and offered a special promotion by providing an in-app credit to healthcare workers in Vancouver, BC.
  • Unveiled the design of its new contact free payment method for safe-distance payments. In contrast to contactless payments, “contact free” payments require absolutely no touch and can be made from a safe physical distance.
  • Launched entry into new verticals. With our new contact free payment method, Perk Hero began targeting new verticals such as dental clinics, medical professionals, retail stores, and health and beauty establishments.
  • Refer-A-Friend feature added to Perk Hero. When users refer a friend to the app, they will receive rewards each time their friend makes a purchase. This provides an incentive for users and “super connectors” such as social media influencers to use referral links when recommending a particular business while using our app.
  • Delivery feature added to Perk Hero. This provides our merchants the ability to offer their own area delivery at a reduced cost to other delivery apps while providing loyalty rewards and ongoing engagement opportunities to our customers for their patronage.
  • Appeared on Global News Hour at 6 BC. On May 28, 2020, the Company CEO appeared on Global News Hour at 6 BC to discuss the delivery charges for current mobile apps to restaurants and our 5% charge to merchants for their own area deliveries. The profile can be viewed: https://globalnews.ca/video/7001085/vancouver-mayor-calls-for-online-food-delivery-apps-to-lower-fees.
  • The outbreak of the novel strain of coronavirus, specifically identified as “COVID-19”, has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. These measures, which include the implementation of travel bans, self-imposed quarantine periods and social distancing, have caused material disruption to businesses globally resulting in an economic slowdown. Global equity markets have experienced significant volatility and weakness. Governments and central banks have reacted with significant monetary and fiscal interventions designed to stabilize economic conditions. The duration and impact of the COVID-19 outbreak is unknown at this time, as is the efficacy of the government and central bank interventions. It is not possible to reliably estimate the length and severity of these developments and the impact on the financial results and condition of the Company and its operations in future periods.

 Highlights Subsequent to May 31, 2020:

  • Launched the “Keep It Local” marketing campaign.  This campaign encourages local merchants to sign up for Perk Hero during the “Keep It Local” campaign.  We also leveraged this campaign via the Daily Hive Vancouver’s digital channels with a target audience reach of over 40,000 people.
  •  Hired Norman Tan as Vice President, Finance. Prior to joining the Company, Norman served as the Chief Financial Officer at Lendified Holdings Inc. Prior to joining Lendified, Norman worked in Deloitte’s audit and assurance practice where he worked with finance leaders in industries including fintech, manufacturing and professional services. He has also held roles in management consulting, technology equity research and private equity. Norman received his B.Comm from the University of British Columbia, his MBA from Queen’s University and is a CFA Charter holder.
  •  Expanded its sales team. The Company ramped up its sales efforts by adding three new members to its sales team.
  • Filed a Short Form Base Shelf Prospectus. On July 17, 2020, the Company filed a Short Form Base Shelf Prospectus with the British Columbia Securities Commission and using Multilateral Instrument 11-102 Passport System, filed the prospectus in all the provinces and territories of Canada.
  • Order from Table feature added to Perk Hero. This feature provides restaurants who must now adhere to limited dine-in capabilities with advanced tools to provide a seamless full service dine-in experience with limited staff-to-guest physical contact and for the customer to have the ability to order at their convenience.
  • Funding Received Under the Canada Emergency Wage Subsidy Program. To date, the Company has received $80,726 under this federal program to assist employers during the COVID-19 pandemic.

Outlook

The Company’s strategic priorities for the remainder of fiscal 2020 include:

  • Continued development of the Perk Hero product through a series of build-measure-learn iterations and moving beyond the restaurant vertical.
  • Building an exceptional and world-class brand with a focus on high quality content.
  • Increasing the number of merchants and users using the Perk Hero
  • Using data, technology, and inbound selling to ramp up sales and revenue generation.
  • Sign enterprise accounts for the Company’s white label solution.

The Company’s complete financial results are available in its Condensed Interim Consolidated Financial Statements and Management’s Discussion and Analysis for the six months ended May 31, 2020, each of which have been 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

 For more information, contact:

Tracey A. St. Denis

Chief Financial Officer

tracey@perkhero.com

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 Perk Labs’ business strategies and its expectations concerning future operations, that by focusing on empowering merchants with digital tools such as mobile ordering, self-managed delivery, contactless payment, and digital loyalty, both we and our merchant partners will be better positioned to emerge from this crisis in a position of strength, that the Company will give merchants the ability to offer their own delivery in their desired surrounding area while rewarding their customers for their patronage and engagement, the continued development of the Perk Hero product through a series of build-measure-learn iterations and that the Company will move beyond the restaurant vertical, 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 of sales and revenue generation, that the Company will sign enterprise accounts for the Company’s white label solution. 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.

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