Snipp Interactive, Inc.
TSX VENTURE : SPN

Snipp Interactive, Inc.

November 10, 2014 21:26 ET

Snipp Interactive Inc. Welcomes Ram Ramkumar Onto Its Board of Directors

BETHESDA, MARYLAND--(Marketwired - Nov. 10, 2014) - Snipp Interactive Inc. ("Snipp"), an international provider of mobile marketing solutions listed on the TSX Venture Exchange (TSX VENTURE:SPN) is pleased to announce that it has appointed Mr. Ram Ramkumar onto its board of directors. Mr. Ramkumar will replace Jim Santora who has resigned due to other company obligations effective immediately. Mr. Santora will continue to act as an advisor and will be a member of the company's new advisory board.

Mr. Ramkumar has had a 25+ year career as a successful business entrepreneur and has held numerous senior management and board level positions at several different publicly-listed companies. He was CFO, VP Operations and GM at Reff Incorporated, a manufacturer of high-end furniture. Subsequently, he was CEO of Inscape Corporation, where he oversaw the growth of the company from $20 million to $170 million in annual revenues. The company was recognized as one of the 50 Best Managed companies in Canada during this period. Both Reff and Inscape went public on the TSX. Mr. Ramkumar is also a principal shareholder and Chairman of Process Research Ortech ("PRO") and ASL Print FX, a provider of high-end promotional print solutions to CPG companies. He is also a former member of the Board of Toronto Rehabilitation Institute.

Mr. Ramkumar was a charter member of TiE, a not-for-profit organization that aims to foster entrepreneurial activity and led the initiative to start TieQuest, which has grown to become one of the leading business venture contests in Canada. He has served on the boards of several publicly listed corporations, including Angoss Software Corporation, a provider of leading edge business analytics solutions to customers (listed on the TSX), Cedara Software, a leading provider of medical imaging software (listed on the TSX and the NASDAQ), and Merge Healthcare (listed on the NASDAQ).

Snipp also announces a grant of 200,000 stock options awarded to its newly appointed director. The options are fully vested, exercisable at a price of $0.34 per common share, expire after 5 years but are conditionally granted contingent on Snipp obtaining disinterested shareholder approval of a new fixed stock option plan at the company's next AGM.

"We are very excited that Ram has agreed to be on our board," said Atul Sabharwal, CEO of Snipp Interactive. "He is a successful serial entrepreneur with deep experience in growing and managing publicly listed companies. We look forward to learning and benefiting from his entrepreneurial and board experiences as we continue to rapidly scale Snipp and actively pursue new areas of growth for the company."

"We would also like to thank Mr. Santora for his service and contributions to the company and look forward to continuing a strong relationship with his transition to our advisory board," said Mr. Sabharwal.

"It's been a pleasure serving on the board of directors these last two years. I look forward to continuing to advise the company on a broader strategic level as part of the industry advisory panel the company is setting up," said Mr. Santora.

Mr. Ramkumar's appointment to the company's board of directors is subject to TSX Venture Exchange approval.

About Snipp Interactive Inc.

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, labor 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.

Copyright Snipp Interactive Inc. All rights reserved. All other trademarks and trade names are the property of their respective owners.

Contact Information

  • Snipp Interactive Inc.
    Press Enquiries
    Atul Sabharwal
    CEO
    415-595-7151
    atul@snipp.com

    Snipp Interactive Inc.
    Investor Relations
    Jaisun Garcha
    CFO
    1-888-99-SNIPP
    investors@snipp.com