TORONTO, March 29, 2018 (GLOBE NEWSWIRE) -- Snipp Interactive Inc. ("Snipp" or the “Company”) (OTCQB:SNIPF) (TSX-V:SPN), a global provider of digital marketing promotions, rebates and loyalty solutions, announces that it will release its financial results for Fourth Quarter and Fiscal Year 2017 prior to the market open on Tuesday April 3, 2018. Snipp management will host a conference call and live webcast for analysts and investors on Tuesday, April 3, 2018 at 10:00 a.m. Eastern Time to discuss the Company’s financial results. The conference call dial-in details will be posted to the Snipp website later this week under the ‘Investors’ section of www.snipp.com.
The Company also announces the closing of the fourth tranche (the “Fourth Tranche”) of the non-brokered private placement (the “Financing”) previously announced on March 2, 2018. The Fourth Tranche was comprised of 6 million shares at a price of CAD$0.10 per share for gross proceeds of CAD$600,000. The four-month hold period for all shares issued under the Fourth Tranche will expire on July 29, 2018 in accordance with Canadian securities laws. Finder's fees were paid to an agent in connection with the Fourth Tranche and consisted of commission of CAD$36,000 and 360,000 warrants (“Finder’s Warrants”). Each Finder’s Warrant entitles the holder to purchase one common share at an exercise price of CAD$0.10 for a period of 2 years from the date of distribution.
“We are pleased with our Q4 and full year 2017 performance and look forward to sharing our results next week. This is an exciting time for our company as we expand into new markets ranging from Hospitality to Cannabis as well as continue to get more deeply entrenched with our traditional consumer product and retail clients. In addition, we have layered in more solutions for our clients and added to our revenue streams over the last year. We look forward to addressing all of these topics on our conference call next week”, commented Atul Sabharwal, CEO of Snipp.
Snipp is a global loyalty and promotions company with a singular focus: to develop disruptive engagement platforms that generate insights and drive sales. Our solutions include shopper marketing promotions, loyalty, rewards, rebates and data analytics, all of which are seamlessly integrated to provide a one-stop marketing technology platform. We also provide the services and expertise to design, execute and promote client programs. SnippCheck, our receipt processing engine, is the market leader for receipt-based purchase validation; SnippLoyalty is the only unified loyalty solution in the market for CPG brands. Snipp has powered hundreds of programs for Fortune 1000 brands and world-class agencies and partners.
Snipp is headquartered in Toronto, Canada with offices across the United States, Canada, Ireland, Europe, and India. The company is publicly listed on the OTCQB, of the OTC market in the United States of America, and on the Toronto Stock Venture Exchange (TSX) in Canada. Snipp was selected to the TSX Venture 50®, an annual ranking of the strongest performing companies on the TSX Venture Exchange, in 2015 and 2016. SNIPP IS RANKED AMONGST THE TOP 500 FASTEST GROWING COMPANIES IN NORTH AMERICA On Deloitte’s 2017 Technology Fast 500™ List, for the second year in a row.
FOR FURTHER INFORMATION PLEASE CONTACT:
MKR Group, Inc.
Todd Kehrli / Mark Forney
Snipp Interactive Inc.
Chief Financial Officer
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This press release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as changes in demand for and prices for the products of the company or the materials required to produce those products, labour relations problems, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. The reader is cautioned not to put undue reliance on such forward-looking statements.
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Source: Snipp Interactive, Inc.