SOURCE: Ackroo Inc.

Ackroo Inc.

December 19, 2017 08:00 ET

Ackroo Announces Results of Annual General Meeting

Ackroo Shareholders Approve all Matters Presented at AGM

OTTAWA, ON--(Marketwired - December 19, 2017) - Ackroo Inc. (TSX VENTURE: AKR) (OTC PINK: AKRFF) ("Ackroo" or the "Company"), a gift card, loyalty and rewards technology and services provider, announces that all of the nominees proposed as directors and listed in the Company's management proxy circular for 2017 were elected as directors at the Company's annual general meeting held in Vancouver, British Columbia on December 15th, 2017. Shareholders also approved the appointment of Grant Thornton LLP as the auditor of the Company for the ensuing year. 99 percent of shares voted were cast in favour of each of the nominees and of the appointment of Grant Thornton LLP, along with all other matters proposed at the meeting.

The elected directors of the Company are as follows:

  • Steve Levely
  • Sam Cole
  • Wayne O'Connell
  • Chad Holliday

After being elected Chad Holliday has chosen to step down from the board of directors to pursue other interests. The Company will look to backfill Chad's role in early 2018 along with adding a potential 5th board member later in the year. The Company would like to thank Chad for his contributions to the board and wish him all the best in his future endeavors.

The Company would also like to announce that integration of the new LoyalMark acquisition is progressing well. The first LoyalMark merchant migrated on Monday December 18th 2017 and the bulk of the administrative work to support transition is complete. Sales prospects from LoyalMark are already converting to Ackroo and staff are integrating well. The Company is confident all operational and technical work to fully integrate the business will be completed in 2018 helping to not only position the Company to achieve their 2018 goals but also position the Company to achieve its goal of 10,000 locations, $10 million of annual revenue and $3 million of annual EBITDA by 2022.

About Ackroo

Ackroo provides gift card and loyalty processing solutions to help retail and hospitality merchants of all sizes attract, retain and grow their customers and their revenues. Through a SaaS based business model Ackroo provides an in-store and online automated solution to help merchants process gift card & loyalty transactions at the point of sale, provide key administrative and marketing data, and to allow customers to access and manage their gift card and loyalty accounts. Ackroo also provides important marketing services to assist their merchants with utilizing Ackroo's technology solution. Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com.

The TSX Venture Exchange 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 policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

This release contains forecasts and forward-looking statements that are not guarantees of future performance and activities and are subject to risks and uncertainties. The company has based these forward-looking statements on assumptions and assessments made by its management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, but are not limited to: the company's ability to raise enough capital to support the company's go forward plans; the overall global economic environment; the impact of competition and new technologies; general market, political and economic conditions in the countries in which the company operates; projected capital expenditures and liquidity; changes in the company's strategy; government regulations and approvals; changes in customers' budgeting priorities; plus other factors that may arise. Any forward-looking statements in this press release are made as of the date hereof, and the company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contact Information

  • For information, please contact:

    Steve Levely
    Chief Executive Officer
    Ackroo
    Tel: 613-599-2396 x730
    Email: slevely@ackroo.com