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RE:N E W S 💰😷 --- Announces Covid-19 Contact Tracing

[Covid19]

July 17, 2020 /CNW/ - Loop Insights Inc. (TSX.V: MTRX) (the "Company" or "Loop")—provider of transformative artificial intelligence ("AI") Internet of Things ("IoT") solutions—announced that it has accelerated conversations for the implementation of its Covid-19 contact tracing solution with government officials, and live event and stadium operators, in North America, Australia, Indonesia, and the U.K., since its launch in June 2020. Loop CEO Rob Anson stated: "Receiving this level of interest across verticals and geographical borders is a true testament to Loop's unique IoT connectivity capabilities. Our core technology has always been built on automation, simplicity and usability. To be able to support the health, safety, and economic recovery of communities is incredibly motivating. Our opportunity to expand Loop's global reach has never been greater." The coronavirus has had a devastating effect on the health and economies of 188 nations. Government officials and business owners are aware that a second wave is coming, and to prepare, they need proper protocols and mandates in place. Loop's key to success stems from an ability to seamlessly integrate and enhance businesses' existing solutions. With its SIM-enabled connectivity, and compatibility with up to forty languages, Loop's contact tracing platform supports fast, scalable deployment anywhere in the world. Loop's goal is to leverage this frictionless implementation process to gain government and public sector endorsement at all levels. For government contracts, the Company will gain revenue from onboarding fees per location, an annual software licensing fee with managed service, and ongoing revenue from active user fees. For venue operators, revenue stems from onboarding fees, monthly Software as a Service (SaaS) fees, and ongoing active user fees. Loop COO Gavin Lee added: "Loop strongly supports the continuation of physical distancing and its implementation in business operations. We understand the need to kickstart economies, but in order to instill confidence back into sports venue and other hospitality experiences, systems must be in place to protect both staff and customers." Combining Loop's IoT and artificial intelligence capabilities with wallet pass technology, creates a digital Covid-19 Contact Card (stored in their Apple or Google wallet). Users tap their mobile device to check in. Check-ins are tracked based on time and location; and if an outbreak is recorded, the platform can provide real-time notifications to an unlimited number of users. The Company's automated solution is contactless, fast, accurate and scalable—and for those reasons, it is well positioned for global scale.