TORONTO, Oct. 30, 2018 (GLOBE NEWSWIRE) -- Snipp
Interactive Inc. ("Snipp" or the “Company”) (TSX-V: SPN; OTCPK:
SNIPF), a global provider of digital marketing promotions, rebates
and loyalty solutions, announces that it held its annual general
and special meeting of shareholders (the "Meeting") on Friday,
October 26, 2018.
Snipp would like to thank its shareholders for
their continued support, as all matters that were put before them
at the Meeting were approved. In particular, Snipp is pleased to
announce the election of Thomas J. Burgess, Sarfaraz Haji and Atul
Sabharwal, to its board of directors (the "Board").
Tom J. Burgess is a seasoned executive in online
and wireless interactive advertising and digital media technology.
As a serial entrepreneur and innovator, he has been granted
multiple patents for his pioneering work in the wireless, mar-tech
and loyalty industries. Mr. Burgess is a frequent speaker at
global marketing conferences and has been quoted or featured in
Forbes, NY Times, Wall Street Journal, Boston Globe, CNBC
and many industry publications. He founded Linkable Networks, a
payments loyalty company in 2010 and orchestrated a significant
asset sale to the global loyalty company Collinson in September
2017. In 2001 Burgess founded Third Screen Media, a wireless
advertising company that was purchased by AOL/TW in 2007. Prior to
Third Screen Media, he founded two other successful digital media
companies. In 2007 Burgess was inducted into the Entrepreneur Hall
of Fame for superior performance by a group of investors. Mr.
Burgess is an active Board Member and advisor to early stage
ventures, with a focus on corporate development, Board governance
and investor relations.
“We would like to thank our shareholders for
overwhelming supporting our strategy as evidenced by the high
participation and agreement on each proposal we put forward at the
Meeting,” said Atul Sabharwal, CEO of Snipp. “In particular we
would also like to extend our sincere thanks to the departing
board, Ram Ramkumar, Michael Dillon and Michael Cannata. They were
instrumental in successfully guiding Snipp through its
transformation from a single product company with short term
revenues to one with multiple products and recurring revenues that
have got us on a definitive path to achieving profitably. We look
forward to their participation on our advisory committee going
forward. I would also like to welcome Tom Burgess to our board. He
is a serial entrepreneur in our space with multiple successful
exits to his name. We are fortunate to be able to have him involved
in helping take Snipp to the next level.”
At the Meeting, shareholders reappointed MNP LLP
as Snipp's auditor for the ensuing year. Also, at the Meeting, in
accordance with the policies of the TSX-V, Snipp obtained
disinterested shareholder approval of the Company’s amended fixed
number stock option plan (the "Option Plan").
For more information on these and other matters
voted on at the Meeting, see Snipp's information circular dated
September 20, 2018 that is available on Snipp's SEDAR profile at
www.sedar.com.
The Company would also like to announce a total
grant of three million, five hundred and twenty-six thousand stock
options to the board of directors, an officer and an advisor. The
options are to vest one-third in twelve months and then in
additional one-third increments every twelve months thereafter
until fully vested. The options are to be exercisable at a price of
C$0.10 per common share and expire after five years.
Visit the Snipp website at http://www.snipp.com/
for Snipp’s full suite of solutions and examples of Snipp
programs.
About Snipp:
Snipp is a global loyalty and promotions company
with a singular focus: to develop disruptive engagement platforms
that generate insights and drive sales. Our solutions include
shopper marketing promotions, loyalty, rewards, rebates and data
analytics, all of which are seamlessly integrated to provide a
one-stop marketing technology platform. We also provide the
services and expertise to design, execute and promote client
programs. SnippCheck, our receipt processing engine, is the market
leader for receipt-based purchase validation; SnippLoyalty is the
only unified loyalty solution in the market for CPG brands. Snipp
has powered hundreds of programs for Fortune 1000 brands and
world-class agencies and partners.
Snipp is headquartered in Toronto, Canada with
offices across the United States, Canada, Ireland, Europe, and
India. The company is publicly listed on the Toronto Stock Venture
Exchange (TSX-V) in Canada and is also quoted on the OTC Pink
marketplace under the symbol SNIPF. Snipp was selected to the TSX
Venture 50®, an annual ranking of the strongest performing
companies on the TSX Venture Exchange, in 2015 and 2016. SNIPP IS
RANKED AMONGST THE TOP 500 FASTEST GROWING COMPANIES IN NORTH
AMERICA On Deloitte’s 2017 Technology Fast 500™ List, for the
second year in a row.
FOR FURTHER INFORMATION PLEASE CONTACT:
Snipp Interactive Inc.
Jaisun Garcha
Chief Financial Officer
investors@snipp.com
Cautionary Note Regarding
Forward-Looking Statements
This press release contains forward-looking
statements that involve risks and uncertainties, which may cause
actual results to differ materially from the statements made. When
used in this document, the words "may", "would", "could", "will",
"intend", "plan", "anticipate", "believe", "estimate", "expect" and
similar expressions are intended to identify forward-looking
statements. Such statements reflect our current views with respect
to future events and are subject to such risks and uncertainties.
Many factors could cause our actual results to differ materially
from the statements made, including those factors discussed in
filings made by us with the Canadian securities regulatory
authorities. Should one or more of these risks and uncertainties,
such as changes in demand for and prices for the products of the
company or the materials required to produce those products, labour
relations problems, currency and interest rate fluctuations,
increased competition and general economic and market factors,
occur or should assumptions underlying the forward looking
statements prove incorrect, actual results may vary materially from
those described herein as intended, planned, anticipated, or
expected. We do not intend and do not assume any obligation to
update these forward-looking statements, except as required by law.
The reader is cautioned not to put undue reliance on such
forward-looking statements.
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 release.
Copyright Snipp Interactive Inc. All rights
reserved. All other trademarks and trade names are the property of
their respective owners.
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