VANCOUVER, Aug. 2, 2017 /CNW/ - 3tl Technologies Corp.
(TSXV: TTM)(OTCQB: TTMZF) (the "Company" or "3tl") announced that
sales orders for PLATFORM³, its Software as a Service (SaaS)
consumer marketing platform, have grown by more than 100% for the
seven month period ending July 31,
2017, compared to the same period in 2016.
- Approximately $ 1.2 million in
agreements signed as of July 31,
2017, compared with approximately $0.57 million during the same period in 2016
- 75% of the Company's 2016 customers have renewed or signed new
agreements for 2017
- The 2017 agreements are with leading consumer packaged goods
companies (about 83% U.S. and 17% Canada)
In 2016, 3tl had revenues of $665,728 comprised of 38 mostly short-term
license agreements to enable digital shopper marketing promotions
for leading U.S. based consumer packaged goods ("CPG")
companies. The success of these promotions in 2016 has
resulted in strong sales growth in 2017 due to repeat business and
a trend to longer-term licence agreements. The Company
estimates that over 80% (about $1
million) of the $1.2 million
in agreements signed as of July 31
will be recognized revenues this year. Accordingly, in
the first seven months of 2017, 3tl has signed agreements that are
estimated to result in revenues over 50% greater than the full year
of 2016.
In 2016, PLATFORM³ was used to host promotions where consumers
were rewarded via their mobile devices for buying products in
retail stores and online, watching videos, completing surveys and
sharing brand friendly content on their social
networks. CPG companies are using PLATFORM³ to
influence buying decisions and to collect consumer data that can be
used for targeting consumers based on past purchases, brand
interactions and demographics.
The focus in 2017 is on converting to longer-term license
agreements that deliver more value to CPG companies and growing
revenues for 3tl. As the consumer databases hosted by
PLATFORM³ grow in size and richness of data, CPG companies can
leverage our proprietary artificial intelligence modules to
retarget consumers with offers aimed at increasing purchase size
and frequency. While 3tl is still building its customer base
with short-term license agreements, a growing number of our
customers have made longer-term commitments with the goal of
building consumer databases that can be monetized to maximize
lifetime value.
3tl has achieved the foregoing with limited sales and marketing
resources. Now that we have proven our product with
leading CPG companies, we plan to raise capital to expand our sales
team with a focus on the U.S. and Canada. The Company intends
to take advantage of our ability to deliver a compelling value
proposition to establish a CPG company customer base that can
generate high-margin recurring revenues based on a SaaS model.
The Company is proceeding with a non-brokered private placement
of up to 6,000,000 units of the Company (the "Units") at
$0.30 per Unit for gross proceeds of
approximately $1.8 million (the
"Offering").
Each Unit will consist of one common share in the capital of the
Company (a "Share") and one Share purchase warrant (each, a
"Warrant"). Each Warrant will entitle the holder to
purchase one additional post-consolidated common share in the
capital of the Company (a "Warrant Share") at a price of
$0.60 per Warrant Share for a period
of five years from the closing of the Offering. All
shares issued pursuant to the private placement will be subject to
a hold period of four months plus one day from the date of
issuance.
About 3tl Technologies Corp.
PLATFORM³ is a Software
as a Service (SaaS) consumer marketing platform. It enables
Consumer Packaged Goods (CPG) companies and consumer brands to
engage shoppers through their mobile device and influence their
purchasing decisions. PLATFORM³ encompasses proprietary consumer
engagement strategies and technology modules including optical
character recognition (purchase receipt scanning), digital
promotions, purchase data mining, loyalty and rewards. CPG
companies and major retail brands use PLATFORM³ to influence and
incentivize shoppers to interact with their brand and make
purchases in-store and online.
For more information, visit 3tltechcorp.com.
For additional information about the company please visit
www.sedar.com. The TSX Venture Exchange Inc. has in no way
passed upon the merits of the transaction and has neither approved
nor disapproved the contents of this press release. 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. This news release contains forward-looking
information, which involves known and unknown risks, uncertainties
and other factors that may cause actual events to differ materially
from current expectation. Important factors - including the
availability of funds and the results of financing efforts, - that
could cause actual results to differ materially from the Company's
expectations are disclosed in the Company's documents filed from
time to time on SEDAR (see www.sedar.com). Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press
release. The Company disclaims any intention or obligation,
except to the extent required by law, to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE 3tl Technologies Corp.