Loop Insights trumpets major pliots and partnerships for its Wallet Pass technology thus far in 2021 in business update

Loop Insights Inc (CVE:MTRX) (OTCQB:RACMF) has released a business update, touting its recent $3 million in recently exercised warrants, progress towards commercialization and likelihood of uplisting in the near future. “2021 continues to be a transformative year for our company, with major deals already announced with the likes of NielsenIQ, Oracle, All Net and many others in advanced stages of negotiation thanks to our growing position as the leader in real-time data analytics,” CEO Rob Anson said in a statement.  READ: Loop Insights enters consumer packaged goods market through integration with The Coupon Bureau “Moreover, we have announced major pilot programs with national powerhouses such as Sobeys, Certas and Pharmassist, which are going exceedingly well and, in combination with our major partners, leading to many more such opportunities. Given the magnitude of these names, Loop’s reputation at the highest levels of global commerce now precedes itself and the stage has now been set for us to accelerate growth and execution across all our core markets on a global scale this year. In conjunction with over C$3 million received from recent warrant exercises and a stronger balance sheet due to reduced debt, Loop has never been stronger than it is today and we will be in a position to demonstrate that to our shareholders before the end of the second quarter.” After some delays as a result of the coronavirus (COVID-19), the company’s earlier-stage pilots have now been successfully implemented and the company said it has received “extremely positive responses and reviews.” Expanded commercial terms are currently in negotiations, the company said.  In March, the company entered into a five-store pilot with Sobeys, Canada’s second-largest grocer, through which Loop provided its Insights and Engage platforms, including its new digital receipt capability, as well as its Wallet pass technology. “[The agreement] is progressing so well that we are now working with the Sobeys leadership tech team to build custom solutions for an improved in-store customer experience utilizing Loop’s digital receipt platform and Wallet pass technology,” the company wrote.  “To this end, Loop has already completed significant additional integration work to ensure a seamless rollout of the additional functionality, which is expected to include a further pilot phase in live stores. Assuming a successful pilot of the additional functionality, it is the expectation of both parties that we will enter into an agreement for a full rollout across the entire chain, the terms of which are already being explored.” READ: Loop inks LOI to become official technology partner to $2.7B All Net Resort and Arena Project in Las Vegas On April 29th, Loop announced a strategic alliance with NielsenIQ that it says will “completely transform the retail sector” by solving the data challenges of many existing and prospective NielsenIQ customers with its real-time capabilities. NielsenIQ has already presented a target list of several large retail and convenience chains with a significant pain point around the lack of real-time data and lack of visibility into their franchise outlets that will be introduced to Loop starting in June, the company said. Just this week, Loop announced an integration with non-profit The Coupon Bureau (TCB), delivering 8,112 coupons through its Wallet pass platform, allowing users to use their mobile phones to redeem coupons in a contactless and secure manner. TCB has already introduced Loop to some of the world’s biggest consumer packaged goods (CPG) manufacturers and retailers to discuss significant business development opportunities, the company said.  The deal “holds the potential to be one of the most significant integrations in the company’s history as indicated by the inbound interest created within hours of the announcement,” the company wrote. Loop has also finalized its C$2 million acquisition of Passcreator, a European digital wallet and mobile marketing company with Tier-1 clients such as Allianz, Mercedes-Benz and BMW. This acquisition will provide Loop with complete control over its Wallet pass technology, the company said, which will help to drive multiple upcoming major business developments. The company also gains access to Passcreator’s 491 clients and can resell other products and services to them.  With regard to uplisting, Loop announced its intentions in December to uplist to the Toronto Stock Exchange and, if successful, to apply for listing on the NASDAQ. The company said it continues to work through the checklist of requirements and processes to achieve our uplisting goals this coming fall.  Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com Follow him on Twitter @andrew_kessel