SOURCE: Keek Inc.

Keek Inc.

April 15, 2016 08:30 ET

Keek Provides Updates on Peeks Product Launch and Corporate Matters

TORONTO, ON--(Marketwired - April 15, 2016) - Keek (TSX VENTURE: KEK) (OTCQX: KEEKF) today provided updates on the Peeks livestreaming product, expected to be launched in July 2016 and preceded by an upcoming beta launch. Peeks is described as "an ecommerce enabled livestreaming platform." The Peeks service allows users to livestream themselves on their own personal interactive ecommerce enabled mobile broadcast. By simply tapping their screen, viewers inside Peeks can tip broadcasters real money, buy products and services, engage in crowd funding, participate in live auctions, and much more.

Peeks differentiates itself from its competitors in several ways. Peeks provides a real-time, engaging, and monetizeable user experience to all of its members. In addition, Peeks' enterprise grade global ecommerce infrastructure provides a multi-currency, multi-lingual, turnkey mobile commerce suite for all of its users, merchants, and advertisers alike. 

The Peeks enabled Keek app, which will adopt the name "Peeks," will replace the legacy Keek iOS and Android apps in their respective app stores. Existing Keek mobile users will receive the update directly to their already installed Keek app and will access the product using their already existing Keek profiles. All existing Keek users can continue to engage in the activities they currently enjoy in Keek with the added benefits of being able to view and broadcast monetizeable livestreams. "Livestreaming is the future of social networking. We are upping the stakes by launching a purpose built, addictively engaging, and monetizeable platform, that allows all of our users to be their own wealth creators," said Mark Itwaru, Chairman and CEO of Keek.

In support of the upcoming Peeks launch, and as part of the core marketing strategy, Personas.com Corporation has contracted several dozen social influencers with an aggregate total of over 100 million social media followers to advertise the Peeks service to their existing user bases. These social influencers will be broadcasting live inside Peeks, giving their followers the highly desired opportunity to directly interact with them. In addition, Keek is engaging in a direct marketing "Peeks Awareness Campaign" to its existing 75 million registered users. Historically, Keek has been able to drive millions of registrations and reactivations with similar campaigns.

The Company also announced that it has had further success in its efforts to streamline its operations. The Company has reduced its monthly operating budget to approximately $200,000 per month, while continuing to allow for the maintenance of the existing platform, the preparation for the launch of the Peeks service pursuant to a Technology Licensing Agreement with Personas.com Corporation (see press release dated August 14, 2015), and certain financial and corporate activities.

"In anticipation of the Peeks product launch, the Company is shifting its near term business strategy towards quickly proving the economic viability of a mobile ecommerce enabled livestreaming platform. This process includes eliminating the operational reliance on external financing activities in the short term, to allow for future funding to be used for growth and value creation," said Alex Macdonald, CFO of Keek.

The Company also announced that in relation to recent Board, Management, and staffing changes, it has granted 2,305,000 options to certain insiders of the Company in accordance with the Company's Stock Option Plan. The options are exercisable at $0.30, vest over a 12 month period as to 20% immediately and 20% every 3 months thereafter, and expire 5 years from the date of grant.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.

Forward looking statements:

The information and statements in this news release contain certain forward-looking information relating to the implementation, timing, and roll out of the Peeks platform, including related products, services, functionalities, and third party involvements. This news release also contains certain forward-looking statements relating to budgeting and future business objectives. This forward-looking information is subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking information. Keek's forward-looking information is expressly qualified in its entirety by this cautionary statement. Except as required by law, Keek undertakes no obligation to publicly update or revise any forward-looking information.

Contact Information

  • For further information, please contact:
    Keek Inc.
    Mark Itwaru
    Chairman & Chief Executive Officer
    647-992-7727
    mark@keek.com