VANCOUVER, May 10, 2018 /CNW/ - 3tl Technologies Corp.
(TSXV: TTM) (OTCQB: TTMZF) (the "Company" or "3tl"), announces that
it has signed a three year licence agreement with the loyalty
division of a leading American multinational media and
entertainment company (the "Customer"), that delivers loyalty
solutions to the world's leading brands. The agreement signed on
April 17, 2018 is a renewal and
extension of a two-year licence that was signed in 2016.
"The renewal of the licence agreement and increase to a
three-year term is further validation that we are delivering a
compelling value proposition, that has the security, stability and
scalability to satisfy the world's leading consumer brands," said
Robert Craig, 3tl's CEO. "This
Customer signed our first long-term licence three years ago; the
renewal is a credit to our relationship, technology and customer
service."
Under the agreement the Customer will licence 3tl's core
product, PLATFORM³, an integrated suite of digital
marketing applications sold as Software-as-a-Service (SaaS), for a
three year period starting in June, 2018. The Customer will pay 3tl
annual licence fees plus transaction and service fees based on the
number of promotions, purchases and consumer interactions enabled
by PLATFORM³. Based on the current level of
transactions, the agreement is expected to generate over
$600,000 in revenues for 3tl during
the three year period. As recently reported, 3tl's gross margins
were 61% in for the year ended December 31,
2017.
PLATFORM³ will be used to engage consumers via
mobile devices, reward purchases and collect valuable consumer
data. PLATFORM³'s Artificial Intelligence and Machine
Learning modules will enable the Customer to monetize the consumer
data by targeting offers based on consumers' purchasing behaviour
and demographics.
2018 Sales Update
The Company is off to a strong start this year, with contracted
revenues that exceeded 2017 revenues after the first four months of
2018. The average size of licence agreements has increased
significantly, existing customers are renewing licences and the
Company's track record of successful case studies is attracting new
customers.
- After growing revenues by 79% to $1.19
million for the year ended December
31, 2017, 3tl has signed 18 agreements, which together with
licence agreements signed in prior periods, represent contracted
revenues of close to $1.5 million,
with approximately 75% expected to be recognized in 2018. The
$1.5 million in contracted revenues
noted above only accounts for licence and service fees, and does
not include any transaction fees. As recently reported, 3tl's gross
margins were 61% in for the year ended December 31, 2017.
- The average dollar value of licence agreements has increased by
approximately 60% to $69,000 compared
to 2017, including short-term targeted shopper marketing promotions
and annual/multi-year SaaS licence.
"Our success in delivering results in 2017 is leading to
renewals and longer-term licences," said Craig. "Annual and
multi-year licences allow our customers to maximize the value of
the consumer data we collect by leveraging multiple modules of
PLATFORM³, including Retargeting & Automated
Messaging and our Artificial Intelligence technology, to drive
initial purchase, purchase frequency and customer loyalty."
About 3tl Technologies Corp.
3tl has developed a
proprietary, mobile-based consumer marketing platform –
PLATFORM³ – that is sold to global Consumer Packaged
Goods (CPG) companies and consumer brands. PLATFORM³
is delivered as a subscription service (Software as a Service
model) and used by CPG companies to engage consumers, reward
purchases and collect valuable consumer data.
PLATFORM³ incorporates Artificial Intelligence and
Machine Learning to monetize the consumer data, including
demographics and purchasing behaviour, by sending consumers
targeted offers by email and text messages. For more information,
visit 3tltechcorp.com.
For additional information about the company please visit
www.sedar.com. The TSX Venture Exchange Inc. has in no way
passed upon the merits of the transaction and 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 the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release. This news release contains forward-looking
information, which involves known and unknown risks, uncertainties
and other factors that may cause actual events to differ materially
from current expectation. Important factors – including the
availability of funds and the results of financing efforts – that
could cause actual results to differ materially from the Company's
expectations are disclosed in the Company's documents filed from
time to time on SEDAR (see www.sedar.com). Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
The Company disclaims any intention or obligation, except to the
extent required by law, to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
SOURCE 3tl Technologies Corp.