Blog

HAMILTON, Ontario, March 25, 2021 (GLOBE NEWSWIRE) – Ackroo Inc. (the “Companies“or”Ackroo”) (TSX-V: AKR) (OTC: AKRFF), a technology and service provider for loyalty marketing, payments and point-of-sale, is pleased to announce advances in its AKR3 marketing platform. The company is focused on improving its e-commerce and digital marketing platform to further strengthen its customer base. Specifically, the company has completed an integration with Shopify that will allow Ackroo merchants to redeem their gift cards through Shopify’s online store. The company has also enhanced its marketing platform with digital marketing intelligence, dashboards and reports so that merchants can clearly see the success and progress of any digital campaign they run through the Ackroo platform. These advances, along with some features planned for 2021, help position Ackroo for the growing demand in e-commerce and digital marketing.

“We are excited to introduce significant advances in our marketing platform,” said Steve Levely, CEO of Ackroo. “As the industry continues to shift towards more e-commerce and everything digital, it is important for Ackroo to evolve with these requirements. In 2020, we were able to double the sales of digital gift cards on our platform compared to 2019, which has also led to an increased demand for online redemption of digital and physical gift cards. After supporting smaller custom shopping carts and listening to our customers, we developed integrations with platforms like Shopify to 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 this increased demand, we have adopted our approach to technology first and services second, and are integrating and adding more business intelligence to our platforms. With the latest development, Ackroo marketing merchants can 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 our customers with a clear understanding so that they can more effectively manage and optimize their digital marketing initiatives. “

Warrant Acceleration
Under the terms of the share purchase option warrants (the “Warrants”) Issued by the Company in connection with a non-brokered private placement completed on July 5, 2017 if the closing price of the Company’s common stock on the TSX Venture Exchange is equal to or greater than $ 0.20 for a period of For at least thirty consecutive trading days, the Company may accelerate the expiry date of the Warrants to a date that is ninety calendar days from the date on which the announcement of such acceleration is publicly announced. The acceleration trigger was met at the close of market on March 24, 2021, and the company decided to accelerate the warrant’s expiration date to June 23, 2021. All warrants that have not been exercised by 4:00 p.m. Toronto time on June 23, 2021 will be automatically canceled and will have no further force or effect.

There are currently 7,811,364 warrants outstanding, all of which can be exercised at a price of $ 0.10. Warrant holders who wish to exercise their warrants should contact their advisors and submit an exercise notice in accordance with the terms of the warrants.

About Ackroo
By consolidating vendors and industries, Ackroo offers marketing, payment and point of sale solutions for merchants of all sizes. Ackroo’s data-driven, cloud-based self-service marketing platform helps merchants in-store and online to process and manage loyalty, gift card and promotional transactions at the point of sale to attract, retain and grow their customers while increasing their sales to boost margins. Ackroo’s payment services provide merchants with affordable 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 general operations for niche industries like golf, yachting, tennis clubs and more. All solutions aim to consolidate, simplify and improve the consumer marketing, payment and point-of-sale ecosystem for their customers. Ackroo is headquartered in Hamilton, Ontario, Canada. Further information is available at: www.ackroo.com.

For more information please contact:

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Forward-Looking Statements
This press release contains projections and forward-looking statements that are not guarantees of future performance or activities and are subject to risks and uncertainties. The company has based these forward-looking statements on assumptions and estimates made by management based on its experience and perception of historical trends, current conditions, expected future developments and other factors as it deems appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include: the company’s ability to raise sufficient capital to support the company’s future plans; the overall economic environment; the effects of competition and new technology; general market, political and economic conditions in the countries in which the company operates; forecast investments and liquidity; Changes in the company’s strategy; government regulations and approvals; Changes in clients’ budgeting priorities; plus other factors that can occur. All forward-looking statements in this press release speak as of the date of this press release. The company undertakes no obligation to publicly update or revise any forward-looking statements as a result of new information, future events or for any other reason, except as required by law.