NEW BRUNSWICK, N.J. and
TORONTO, Dec. 22, 2021 /CNW/ -- Engagement Labs
Inc. (TSXV: EL) (the "Company") announced today that it has
been awarded a patent by the United States Patent and Trademark
Office awarded for TotalSocial, its data and analytics platform
that uniquely measures offline and online conversation about brands
and their impact on business outcomes.
Officially titled "System and Method for Measuring Social
Influence of a Brand For Improving the Brand's
Performance," the patent is based on the proprietary method by
which the Company integrates offline and online conversational data
for nearly 1000 brands in the U.S. and tie that data to business
outcomes such as sales, brand health, and media amplification.
"Being awarded a U.S. patent is a powerful testament to our new
technology's leadership. It also illustrates the significant
progress we made in intellectual property creation and protection,"
said Steven Brown, President and
Chief Revenue Officer. "This patent confirms the uniqueness of
Engagement Labs' TotalSocial core technology and our customers can
feel confident of our solutions, even as its practical value is
something that marketers and insights leaders have been confirming
since the launch of TotalSocial."
Corporate Update
The Company is in the process of completing next steps to
finalize its previously announced merger agreement with DGTL
Holdings Inc. ("DGTL"). Since the Company's last update on
November 25th, DGTL
completed a financing that satisfied a key condition to closing the
Plan of Arrangement (the "Arrangement") between the Company and
DGTL dated August 11, 2021, as
amended. A January 6, 2022 court date
has been set for the Company to seek an interim court order to
permit the Company to put the proposed Arrangement to shareholders
for their approval at a virtual shareholders meeting, which is
scheduled for February 14, 2022.
Under the terms of the Arrangement, the Company's Chief
Financial Officer and President/CRO will remain with the Company
following the merger. Ed Keller, the
Company's CEO will remain with the Company through the completion
date of the transaction after which he is expected to depart based
on mutually negotiated terms. As part of the Arrangement, Mr.
Keller will receive special consideration upon the Arrangement
becoming effective, including an award of 261,250 DGTL warrants.
Mr. Keller will also be exempt from the requirement applicable to
all other directors and officers of the Company to hold their
shares for a period of one year following the effective date of the
Arrangement. The Company also announces that Mr. Keller intends to
sell up to 105,000 EL shares between now and the end of 2021 for
tax purposes. The Company will provide further updates on
each step in this ongoing process as they are completed. Both
companies are targeting a final closing of the merger in Q1 of
2022.
About Engagement Labs
Engagement Labs (TSXV: EL) is an industry-leading data and
analytics firm that provides social intelligence for Fortune 500
brands and companies.
To learn more visit www.engagementlabs.com
Disclaimer in regard to Forward-looking Statements
Certain statements included herein constitute "forward-looking
statements" within the meaning of applicable securities laws.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by
management at this time, are inherently subject to significant
business, economic and competitive uncertainties and contingencies.
Investors are cautioned not to put undue reliance on
forward-looking statements. Except as required by law, Engagement
Labs does not intend, and undertakes no obligation, to update any
forward-looking statements to reflect, in particular, new
information or future events.
Neither 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 release.
For media inquiries please contact:
Vanessa Lontoc / Ed Keller, CEO
Engagement Labs
vanessa.lontoc@engagementlabs.com / ed.keller@engagementlabs.com
SOURCE Engagement Labs