Loop Insights Inc.(CVE:MTRX) (OCTMKTS:VRZPF) said it has signed an agreement to grant Austin-based start-up CasaPerks a non-exclusive license to use various aspects of its technology in return for $1.93 million in a combination of cash and shares.
CasaPerks provides solutions for the commercial real estate industry that help increase revenues and reduce costs for building operators. The company will also provide both reward and fintech layers that will require Loop’s artificial intelligence (AI) capabilities to optimize and maximize its target market.
READ: Loop Insights receives validation with major TELUS, University of Houston deals and $412,000 R&D award
Loop technologies included in the license deal include its AI data insights portal, smart app check-in, and its digital wallet pass.
"I am very excited about the path and direction of CasaPerks, which is led by Kevin Bradt, whose track record of success speaks for itself. CasaPerks' major disruptive strategy, which now creates a return on rental investment, is a major paradigm shift in the entire sector's core value proposition,” Loop Insights chief executive Rob Anson said in a statement.
“Combined with our AI & Big Data Solutions, CasaPerks' loyalty rewards and Fintech will result in a very powerful product offering. COVID-19 has accelerated the necessity for mobile commerce in every vertical, and CasaPerks is now set to quickly become the new standard for the industry," he added.
First day of trading on OTCQB Venture Market
In a separate announcement, the company also said that on Monday, September 28 it will begin trading on the OTCQB Venture Market under the symbol RACMF.
Loop said it believes the OTCQB can provide "efficient market access to US investors, which should build long-term shareholder value through greater access to enhanced liquidity and data distribution", adding that its shares will continue to trade on the TSX Venture Exchange under the symbol MTRX.
"The commencement of trading on the OTCQB is an important milestone because it provides the massive audience of American small-cap investors an ability to easily invest in Loop Insights and participate in our growth. Our recent announcements regarding Telus, University of Houston and others have generated significant interest from American investors who want the exposure Loop can provide them to the ground floor of the rapidly growing contactless industry, in which Loop has already demonstrated significant third party validation as to the strength of our solutions," CEO Anson said.
Loop Insights Inc. is a Vancouver-based Internet of Things technology company that delivers AI automated marketing, contact tracing, and contactless solutions to the brick and mortar space. The firm operates in the telecom, casino gaming, sports and entertainment, hospitality, and retail industries across Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia.
Contact the author at firstname.lastname@example.org
Follow him on Twitter @Cal_Proac