Snipp Interactive, Inc.
TSX VENTURE : SPN

Snipp Interactive, Inc.

September 23, 2014 08:00 ET

Snipp Interactive Inc. Announces Exclusive Deal to Bring Its Mobile Promotions Solutions to Brazilian Market

BETHESDA, MARYLAND--(Marketwired - Sept. 23, 2014) - Snipp Interactive Inc. ("Snipp"), an international provider of marketing promotions solutions listed on the TSX Venture Exchange (TSX VENTURE:SPN), is pleased to announce it has entered into an exclusive partnership with FTC Cards Inc. ("FTC"), to bring its suite of promotions and loyalty solutions to the Brazilian market.

FTC has an exclusive contract with Petrobras Distribuidora S.A. ("Petrobras") to provide credit card processing services and develop a platform for marketing promotions, loyalty programs and rewards to be used at the 7,500+ gas stations in Petrobras's network. Petrobras Distribuidora S.A. is the retail and distribution subsidiary of energy company Petróleo Brasileiro S.A., one of the largest companies in the Southern hemisphere by market capitalization and revenues.

According to the terms of the new partnership, FTC has committed to fund the costs associated with launching and localizing Snipp's solutions for use in the Brazilian market. In addition, Snipp will receive 20% of all profits accruing from the Brazilian market. FTC has committed to generate a minimum of $1MM in revenue to maintain exclusivity with Snipp in Brazil. FTC had previously made a $200,000 strategic investment in Snipp in 2013.

Atul Sabharwal, CEO and co-founder of Snipp commented, "Brazil is a huge market for us and we are thrilled to be partnering with FTC and its team, who not only understand the market really well and have deep commercial partnerships already in place, but have also invested in Snipp and are intimately familiar with our offerings. In addition to Brazil, we have partners in place in Mexico and Colombia, and we will continue to expand our presence in Latin America and worldwide by partnering with strong local companies in each market."

FTC CEO Celso Posca said, "Expanding our services to include Snipp's robust suite of promotion solutions was a natural next step for us. We are confident that there is a huge market in Brazil for loyalty programs, receipt-processing, rewards and other mobile-based promotions, and are very excited to partner with Snipp whose solutions are best-in-class."

About Snipp:

Snipp Interactive Inc. (www.snipp.com) builds cross-device shopper marketing solutions for brands to engage and interact with their customers. We provide a full spectrum of services including campaign conceptualization, rules and legal, design, execution, rewards provisioning and fulfillment. We have four main solution sets:

  • Mobile Promotions and Contests: A turnkey contesting platform that provides a full range of mobile-based contests, from simple sweepstakes to instant win programs to tiered, multi-level games.

  • Purchase Promotions / Receipt Processing: Snipp's unique SnippCheck mobile receipt processing solution allows brands to execute customized purchase-based promotions. We support any qualification criteria, work across all retailers and all devices.

  • Loyalty Programs: Snipp's white-label loyalty engine allows clients to deploy anything from simple punch-card programs to sophisticated, full-fledged points-based loyalty programs with rewards stores attached.

  • Augmented Reality and Apps: Snipp produces cutting edge augmented reality campaigns and apps for leading brands around the world.

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.

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