TORONTO, May 23, 2018 (GLOBE NEWSWIRE) -- Snipp
Interactive Inc. ("Snipp" or the “Company”) (OTCQB:SNIPF)
(TSX-V:SPN), a global provider of digital marketing promotions,
rebates and loyalty solutions, today announced that it has signed a
Master Services Agreement (“MSA”) with CLS HOLDINGS USA, (“CLS”)
who is in the process of finalizing its purchase of Oasis Cannabis
a "seed to sale" company focusing on Cultivation, Production and
Dispensaries. CLS showed interest in the Company’s solutions by
signing up on its recently launched Cannabis Marketing Resource
Center (“CMRC”).
In addition, CLS is the developer of a
proprietary patent-pending extraction and conversion methodology
that has potential to increase yield and quality of cannabinoid
oils extracted from cannabis plants. CLS is in the process of
expanding its business strategy to include cultivation, production,
and retail dispensaries, and is currently in the process of
acquiring Oasis Cannabis, a licensed Las Vegas based vertically
integrated cannabis company. To learn more visit
https://www.clsholdingsinc.com
Snipp will, pursuant to the MSA, implement a
customer retention and management platform covering all CLS
locations across Snipp’s, SnippCheck, SnippRewards and SnippLoyalty
platforms. Snipp will leverage the accumulated knowledge and deep
expertise it has acquired in designing and launching marketing
programs in other highly regulated industries like Pharma, Alcohol
and tobacco to help CLS run effective and legally compliant
promotion and loyalty programs to meet their marketing
objectives.
“We have explored a number of loyalty platforms
and after extensive review and consultation with Snipp have
concluded that Snipp’s robust and highly flexible platform allows
us to deploy a system that we can leverage as we grow the CLS
platform” said Jeff Binder, CEO of CLS.
“We are energized by the interest received in
our platform and expertise by entities in the cannabis industry.
Clearly there is a need that is currently unmet for flexible
marketing solutions that can be leveraged across the industry
ecosystem and we hope to be the go to resource that fills that
need. CLS is a great example of a forward looking company that
intends to run a vertically integrated business that is already
thinking through the finer points of their future business and
operating model” said Atul Sabharwal, CEO of Snipp.
Visit the Snipp website at http://www.snipp.com/
for Snipp’s full suite of solutions and examples of Snipp
programs.
For those interested visit http://www.snipp.com/cmrc to sign up
for Snipp’s Cannabis Marketing Resource Center to gain valuable
marketing insights on attracting and retaining customers
About Snipp:
Snipp is a global loyalty and promotions company
with a singular focus: to develop disruptive engagement platforms
that generate insights and drive sales. Our solutions include
shopper marketing promotions, loyalty, rewards, rebates and data
analytics, all of which are seamlessly integrated to provide a
one-stop marketing technology platform. We also provide the
services and expertise to design, execute and promote client
programs. SnippCheck, our receipt processing engine, is the market
leader for receipt-based purchase validation; SnippLoyalty is the
only unified loyalty solution in the market for CPG brands. Snipp
has powered hundreds of programs for Fortune 1000 brands and
world-class agencies and partners.
Snipp is headquartered in Toronto, Canada with
offices across the United States, Canada, Ireland, Europe, and
India. The company is publicly listed on the OTCQB, of the OTC
market in the United States of America, and on the Toronto Stock
Venture Exchange (TSX) in Canada. Snipp was selected to the TSX
Venture 50®, an annual ranking of the strongest performing
companies on the TSX Venture Exchange, in 2015 and 2016. SNIPP IS
RANKED AMONGST THE TOP 500 FASTEST GROWING COMPANIES IN NORTH
AMERICA On Deloitte’s 2017 Technology Fast 500™ List, for the
second year in a row.
About Oasis Cannabis
(http://oasiscannabis.com)
Oasis Cannabis has operated a cannabis dispensary in the Las
Vegas market since dispensaries first opened in Nevada in 2015 and
has been recognized as one of the top marijuana retailers in the
state. Its location within walking distance to the Las Vegas Strip
and Downtown Las Vegas in combination with its delivery service to
residents allows it to efficiently serve both locals and tourists
in the Las Vegas area. The company recently commenced wholesale
offerings of cannabis in Nevada with the launch of its City Trees
brand of cannabis concentrates and cannabis-infused products in
August 2017. An expansion of its cultivation and production
facility is currently underway and is expected to be completed
during the second half of 2018.
About CLS Holdings USA, Inc.
(www.clsholdingsinc.com)
CLS Holdings USA, Inc. (CLSH) plans to become a diversified
cannabis company and is shifting its corporate strategy to becoming
a fully licensed integrated cannabis producer and retailer in
Nevada and other states.
CLS stands for "Cannabis Life Sciences," in recognition of the
Company's patent pending proprietary method of extracting various
cannabinoids from the marijuana plant and converting them into
products with a higher level of quality and consistency. The
Company's business model includes licensing operations, processing
operations, processing facilities, sale of products, brand creation
and consulting services.
For additional information, please visit:
http://www.clsholdingsinc.com
Disclaimer
CLS has executed a definitive agreement to acquire the Oasis
Cannabis companies from Alternative Solutions, LLC. The closing of
the transaction is subject to the satisfaction of a number of
conditions including our ability to raise cash, and as a result,
there can be no assurance that we will be able to close the Oasis
Acquisition. See CLS Holdings USA's filings with the SEC for
additional details.
Twitter: @CLSHusa
Forward Looking Statements
This press release contains forward-looking statements as that term
is defined in the Private Securities Litigation Reform Act of 1995.
These statements relate to anticipated future events, future
results of operations or future financial performance. These
forward-looking statements include, but are not limited to,
statements relating to whether certain transactions will be
completed, the terms of such transactions, the descriptions of the
companies and the business that any potential target companies
could bring to CLS Holdings. In some cases, you can identify
forward-looking statements by terminology such as "may," "might,"
"will," "should," "intends," "expects," "plans," "goals,"
"projects,", "anticipates," "believes," "estimates," "predicts,"
"potential," or "continue" or the negative of these terms or other
comparable terminology. These forward-looking statements are only
predictions, are uncertain and involve substantial known and
unknown risks, uncertainties and other factors which may cause our
actual results, levels of activity or performance to be materially
different from any future results, levels of activity or
performance expressed or implied by these forward-looking
statements. We cannot guarantee future results, levels of activity
or performance and we cannot guaranty that the proposed
transactions described in this press release will occur. You should
not place undue reliance on these forward-looking statements, which
speak only as of the date that they were made. These cautionary
statements should be considered together with any written or oral
forward-looking statements that we may issue in the future. Except
as required by applicable law, we do not intend to update any of
the forward-looking statements to conform these statements to
reflect actual results, later events or circumstances or to reflect
the occurrence of unanticipated events. CLS Holdings USA has
entered into a definitive agreement to acquire Oasis Cannabis,
which is expected to close in the second quarter of 2018. See CLS
Holdings USA filing with the SEC for additional details.
FOR FURTHER INFORMATION PLEASE CONTACT:
Snipp - Chief Financial Officer
Jaisun Garcha
investors@snipp.com
CLS - Chairman and CEO
Jeff Binder
jeff@clsholdingsinc.com
Investors:
Hayden IR
CLSH@haydenir.com
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