Poynt Corporation
TSX VENTURE : PYN

Poynt Corporation

August 26, 2011 08:05 ET

Poynt Wins Runner-Up Grand Prize in Nokia's Calling All Innovators 2011 Contest

Contest prize is a $1 Million Nokia Marketing Campaign

CALGARY, ALBERTA--(Marketwire - Aug. 26, 2011) - Poynt Corporation (TSX VENTURE:PYN) ("Poynt Corp." or the "Company"), a global leader in mobile local search and advertising, has been awarded the runner-up grand prize in the app category in Nokia's (NYSE:NOK)(OMX:NOK1V) "Calling All Innovators 2011" mobile app and games development contest. An overall grand-prize winner and runner up were awarded for both the app and game categories. The grand-prize runners-up and winners were determined based on overall points awarded by a panel of Nokia judges.

The Nokia Calling All Innovators global competition attracted over 800 entrants in 17 app and game categories. Entrants were competing for the chance to share in a total of $10 million (USD) in cash and prizes. The grand-prize winners and the two runners-up were announced August 25, 2011 at an award ceremony held at Nokia's U.S. flagship office in Sunnyvale, California.

According to the contest rules, the runner-up grand prize winners will be featured in Nokia marketing campaigns worth $1 Million (USD). This award is in addition to the $150,000 (USD) cash prize previously announced on August 22, 2011 for winning the productivity and tools app category. The campaigns will include promotion of the Poynt app in various consumer marketing campaigns.

A unique blend of consumer and expert judging was relied on to determine the category winners of the Calling All Innovators Contest. The top apps were initially chosen based on total app downloads by consumers and sales totals in Nokia's Ovi Store. The top ten downloaded apps in each category (five paid apps and five free apps) were then judged by an expert panel of judges from Nokia. This blend of consumer and expert judging chosen by Nokia helped ensure that the best apps were not only the most popular apps but also provided the best user experience.

"Nokia designed a contest that rigorously tested each application and we are honored to be considered one of the top apps," said Andrew Osis, President and CEO of Poynt Corp. "It is our goal to be able to offer a rich user experience across different device platforms, and this win highlights our success in achieving this goal."

More information about Poynt for Nokia can be found at: http://poynt.com/nokia.html.

Poynt is a convenient and timesaving GPS-enabled mobile application that connects consumers to local businesses, events, restaurants, movie theatres, gas prices and weather information at the moment they are looking to buy or acquire products or services. Poynt provides consumers with the ability to move beyond discovery of their local area to view movie trailers and reviews, buy movie tickets, click-to-call businesses, get directions, browse listing websites, read reviews and book dining reservations.

Poynt is available as a free download for users in Canada, the United States, the United Kingdom, Germany, France, Italy, Spain and Australia on BlackBerry® smartphones, BlackBerry PlayBook tablet, iPhone, iPad and iPod Touch, Android, Windows Phone 7 and Nokia devices from the respective App Stores. Poynt is also available via Over the Air download at m.poynt.com.

About Poynt Corporation

Poynt Corp. (about.poynt.com) is a global leader in the mobile local advertising space. Its Location Based Search (LBS) application, Poynt (www.poynt.com), enhances a user's ability to connect with the people, businesses and events most important to them. Poynt is available on iPhone and iPod Touch, Android, Nokia QT and Windows Phone 7 devices, BlackBerry® smartphones and BlackBerry PlayBook™ Tablets in Canada, the United States, Europe and Australia. Poynt Corp. entered the mobile publishing space with the recent acquisition of an advertising publishing platform in January 2011. Key contracts on both the supply and demand sides are in place to provide inventory into the platform and publishers to display the inventory. Whether through the Poynt Local Search App or the Ad Publishing Platform, Poynt Corp. simplifies connecting consumers with businesses, retailers and events. Headquartered in Calgary, AB, Canada, Poynt Corp. trades on the TSX Venture Exchange under the symbol PYN.

Important Cautions Regarding Forward-looking Statements

This news release contains forward-looking statements relating to: the amount of money Nokia will contribute to a marketing campaign and other statements that are not historical facts. Such forward-looking statements are subject to important risks, uncertainties and assumptions. The results or events predicated in these forward-looking statements may differ materially from actual results or events. As a result, you are cautioned not to place undue reliance on these forward-looking statements.

These forward-looking statements are based on certain key assumptions regarding, among other things: the risk that Nokia will not spend the $1M (USD) dollars; future technological developments; the cost of expanding product lines; the impact of increasing competition; the continuity of existing business relationships; the continued successful development, implementation and execution of the App; continued growth in number of active users of the App; conditions in general economic and financial markets; the ability to complete previously announced transactions; ability to obtain all necessary regulatory approvals; and our ability to obtain financing on acceptable terms. Material risk factors that could cause actual results to differ materially from the forward-looking information include, but are not limited to: the deteriorating economic and market conditions that could lead to reduced spending on information technology products; competition in our target markets; potential capital needs; management of future growth and expansion; the development, implementation and execution of the Company's strategic vision; risk of third-party claims of infringement; protection of proprietary information; customer acceptance of the Company's existing and newly introduced products; the success of the Company's brand development efforts; risks associated with strategic alliances; failure of counterparties to perform on contracts; failure to successfully negotiate contracts; failure to successfully negotiate additional preload agreements; risk that the App may not be included in Q4 media buy budgets; reliance on distribution channels; product concentration; need to develop new and enhanced products; failure to obtain necessary regulatory approvals; potential product defects; our ability to hire and retain qualified employees and key management personnel; risks associated with changes in domestic and international market conditions and the entry into and development of new markets for the Company's products; and the risks described under "risk factors" in our Annual Information Form for the year ended December 31, 2010 which is available on our SEDAR profile (www.sedar.com).

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on expectations of, or statements made by, third parties in respect of the forward-looking statements identified above.

The BlackBerry and RIM families of related marks, images and symbols are the exclusive properties and trademarks of Research In Motion Limited. Apple App Store and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. Windows is a registered trademark of Microsoft Corporation in the United States and other countries. Android is a registered trademark of Google Inc. Nokia is a registered trademark of Nokia Corporation.

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.

Contact Information

  • Company Contact:
    Poynt Corporation
    Andrew Osis
    President & CEO
    403-313-3719
    www.poynt.com

    North American Public Relations Contact:
    FortyThree PR, Inc.
    Evie Carter
    831-401-3175
    poynt@43pr.com

    European Media Communications Contact:
    CC-Group Communications Ltd., for Poynt Corporation
    Nicole Littlewood or Howard Jones
    +44 118 920 7650
    poynt@ccgrouppr.com

    Investor Relations Contact:
    Liolios Group, Inc.
    Scott Liolios or Matt Glover
    949-574-3860
    info@liolios.com