VANCOUVER, BC, Aug. 20, 2020 /CNW/ - Loop Insights Inc. (TSXV:
MTRX) (the "Company" or "Loop"), a
provider of contactless solutions and artificial intelligence
("AI") to drive real-time insights, automated
marketing, and contact tracing to the brick and mortar space, is
pleased to announced the signing of a Pilot Agreement with Sunflora
Inc., to implement Loop's analytics platform into 20 of its Your
CBD Store retail locations.
OPPORTUNITY FOR FULL IMPLEMENTATION ACROSS 550+
LOCATIONS
Your CBD Store is the largest CBD brick and mortar
retailer in the United States,
selling award-winning SunMed products. Upon successful
completion of the Pilot, it is the intention of both parties to
implement Loop's artificial intelligence driven analytics platform
across all 550+ Your CBD Store locations in 41 States across
America.
Sunflora President of Franchise Systems, Jay Benge stated "There's no greater
time to utilize top-tier artificial intelligence technology to gain
an edge in this industry. Our customer base is huge, and it's
important to understand their needs and preferences to maximize
basket size, loyalty and wallet share. We look forward to working
with Loop and building unparalleled experiences for our
customers."
PILOT AGREEMENT STEMS FROM VEND RESELLER PARTNERSHIP
On August 10th, Loop
announced a "Reseller Partnership And First Sale With Vend, A
Global POS Company Used In 25,000 Stores Across 140
Countries". In that announcement Loop and Vend announced the
first sale to a Vend client with 30 stores across North America.
Today's announcement represents the second deal through Vend in
just 10 days, which bodes well for the future of the partnership
and further demonstrates the efficacy of the Company's artificial
intelligence driven marketing solution to the brick and mortar
space.
Loop Insights CEO, Rob
Anson stated "Our Vend partnership has already
demonstrated great value for Loop by rapidly accelerating our entry
into large verticals such as CBD retail. CBD sales are seeing
massive growth rates since the start of the pandemic, so this Pilot
with Sunflora Inc. puts Loop in a very strong position to become a
partner to the massive CBD retail market."
US CBD SALES PROJECTED TO REACH $24
BILLION BY 2023, WITH ANNUAL GROWTH RATE OF 107%.
CBD product sales growth in the US is growing at a remarkable
pace, growing 706% percent from 2018 to 2019 ($620M to $5B) and a
projected compound annual growth rate (CAGR) from 2018 and 2023 of
107%. In comparison, cannabis sales are expected to see a
CAGR of around 25%. Experts believe CBD's growth is due to
its entrance into major pharmacy and retail chains. Loop's ability
to provide real-time insights to Sunflora Inc., across its
storefronts will help manage their inventory and supply chain,
while building robust customer data and engagement.
This Press Release Is Available On The Loop Insights Verified
Forum On AGORACOM For Shareholder Discussion and
Q&A https://agoracom.com/ir/LoopInsights/forums/discussion
About Your CBD Store: Your CBD Store is the largest CBD
retailer in the United States and
the exclusive home of award-winning, hemp-derived SunMed products.
With more than 550+ stores in 41 states, we are bringing the
highest quality CBD experience to customers nationwide. Its parent
company, Sunflora Inc., produces quality products for health and
wellness, skincare, and pet products.
About Loop Insights: Loop Insights Inc. is a Vancouver-based Internet of Things ("IoT")
technology company that delivers transformative artificial
intelligence ("AI") automated marketing, contact tracing, and
contactless solutions to the brick and mortar space. Its unique IoT
device, Fobi, enables data connectivity across online and
on-premise platforms to provide real-time, detailed insights and
automated, personalized engagement. Its ability to integrate
seamlessly into existing infrastructure, and customize campaigns
according to each vertical, creates a highly scalable solution for
its prospective global clients that span industries. Loop Insights
operates in the telecom, casino gaming, sports and entertainment,
hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia.
Forward-Looking Statements/Information:
This news release contains certain statements which
constitute forward-looking statements or information. Such
forward-looking statements are subject to numerous risks and
uncertainties, some of which are beyond Loop's control, including
the impact of general economic conditions, industry conditions, and
competition from other industry participants, stock market
volatility and the ability to access sufficient capital from
internal and external sources. Although Loop believes that the
expectations in its forward-looking statements are reasonable, they
are based on factors and assumptions concerning future events which
may prove to be inaccurate. Those factors and assumptions are based
upon currently available information. Such forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that could influence actual results or events and
cause actual results or events to differ materially from those
stated, anticipated or implied in the forward-looking statements.
As such, readers are cautioned not to place undue reliance on the
forward-looking statements, as no assurance can be provided as to
future results, levels of activity or achievements. The
forward-looking statements contained in this news release are made
as of the date of this news release and, except as required by
applicable law, Loop does not undertake any obligation to publicly
update or to revise any of the included forward-looking statements,
whether as a result of new information, future events or otherwise.
The forward-looking statements contained in this document are
expressly qualified by this cautionary statement. Trading in
the securities of Loop should be considered highly
speculative. There can be no assurance that Loop will be able to
achieve all or any of its proposed objectives.
SOURCE LOOP Insights Inc.