HAMILTON, Ontario, March 25, 2021 (GLOBE NEWSWIRE) -- Ackroo Inc. (the “ Company ” or “ Ackroo ”) (TSX-V: AKR) (OTC: AKRFF), a loyalty marketing, payments and point-of-sale technology and services provider, is pleased to announce advancements to its AKR3 marketing platform. The Company is focused on enhancing its platform in e-commerce and digital marketing to further empower its customer base. Specifically, the Company has completed an integration to Shopify which enables Ackroo merchants to redeem their gift cards through Shopify’s online store. The Company has also continued to advance its marketing platform with digital marketing insights, dashboards and reports in order to allow merchants to clearly see the success and progress of any digital campaign they run through the Ackroo platform. These advancements along with several features planned for 2021 help position Ackroo for the growing demand in e-commerce and digital marketing.
“We are excited to be introducing meaningful advancements to our marketing platform,” said Steve Levely, CEO of Ackroo. “As the industry continues to shift towards more e-commerce and all things digital, it is important for Ackroo to continue to evolve with those demands. In 2020 we saw a doubling of digital gift card sales over 2019 on our platform which has also led to an increased demand for online redemption of both digital and physical gift cards. After supporting smaller custom shopping carts and listening to our customers, we developed integrations into platforms like Shopify which will help our customers while also driving Ackroo’s continued growth. We also saw a significant increase in our digital marketing services business in 2020. With that increased demand we have embraced our technology first and services second approach and are integrating and adding more business intelligence into our platforms. The latest advancement allows Ackroo marketing merchants the ability to log into their program console to see open rates, views, click rates, bounce rates and more from campaigns they have run through Ackroo. These insights provide clear understanding for our clients so that they can more effectively manage and optimize their digital marketing initiatives.”
Warrant Acceleration
Under the terms of the share purchase warrants (the “ Warrants ”) issued by the Company in connection with a non-brokered private placement completed on July 5, 2017, in the event that the closing price of the common shares of the Company on the TSX Venture Exchange is equal to or greater than $0.20 for a period of no fewer than thirty consecutive trading days, the Company is permitted to accelerate the expiry date of the Warrants to a date that is ninety calendar days from the date notice of such acceleration is publicly announced. The acceleration trigger has been met as of market close on March 24, 2021, and the Company has elected to accelerate the Warrant expiry date to June 23, 2021. Any Warrants that have not been exercised by 4:00 p.m. (Toronto time) on June 23, 2021, will be automatically cancelled, and of no further force or effect.
There are currently 7,811,364 Warrants outstanding, all of which are exercisable at a price of $0.10. Warrantholders wishing to exercise their Warrants should contact their advisers and submit an exercise notice in accordance with the terms of the warrants.
About Ackroo
Through vendor and industry consolidation, Ackroo provides marketing, payment and point-of-sale solutions for merchants of all sizes. Ackroo’s self-serve, data driven, cloud-based marketing platform helps merchants in-store and online process and manage loyalty, gift card and promotional transactions at the point of sale in order to attract, engage and grow their customers while increasing their revenues and margins. Ackroo’s payment services provide merchants with low cost payment processing options through some of the world’s largest payment technology and service providers. Ackroo’s hybrid management and point-of-sale solutions help manage and optimize the general operations for niche industry’s including golf, yacht, tennis clubs and more. All solutions are focused on helping to consolidate, simplify and improve the merchant marketing, payments and point-of sale ecosystem for their clients. Ackroo is headquartered in Hamilton, Ontario, Canada. For more information, visit: www.ackroo.com .
For further information, please contact:
Steve Levely
Chief Executive Officer | Ackroo
Tel: 416-360-5619 x730
Email: slevely@ackroo.com
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The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This release contains forecasts and forward-looking statements that are not guarantees of future performance and activities and are subject to risks and uncertainties. The Company has based these forward-looking statements on assumptions and assessments made by its management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, but are not limited to: the Company’s ability to raise enough capital to support the Company’s go forward plans; the overall global economic environment; the impact of competition and new technologies; general market, political and economic conditions in the countries in which the Company operates; projected capital expenditures and liquidity; changes in the Company’s strategy; government regulations and approvals; changes in customers’ budgeting priorities; plus other factors that may arise. Any forward-looking statements in this press release are made as of the date hereof, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
