- Company plans to first uplist to TSX from its current TSX.V listing. Uplisting benefits include enhanced visibility and potentially increased access to capital
- If TSX uplisting is successful, Loop has plans for a possible dual listing by filing with the SEC and NASDAQ
- Company anticipates significant growth to continue in 2021, following an increase in demand for its products and services, resulting in higher sales, customer acquisitions, partnerships, technology stack and deployments
- New proprietary technology, Uklipz, is expected to launch in January 2021, joining the company’s current lineup of IoT and AI products
Loop Insights (TSX.V: MTRX) (OTCQB: RACMF), an innovative technology company leveraging Internet of Things (“IoT”) technologies to deliver contact solutions, has announced its intention to begin the uplisting process to major North American Stock Exchanges. The uplisting plan was approved by the Board of Directors and comes at a time of extraordinary growth for the company in terms of sales, customer acquisitions, partnerships, technology stack and deployments (https://nnw.fm/uCEwc).
The company expects demand for its AI data applications and product services to continue throughout 2021, as a result of the digital transformation driven by COVID-19, spurring significant growth and market opportunities. “As a result of our immutable relevancy, high demand for Loop’s products, pipeline growth, and ability to easily scale into a global marketplace that is in full press digital transformation, we expect a continued accelerated pace that now warrants an uplist and dual list strategy that will attract institutional investors commensurate with our anticipated profile in 2021 and far beyond,” CEO Rob Anson, said about the uplisting announcement.
Loop’s proposed plan for uplisting involves applying to have common shares uplisted to the Toronto Stock Exchange (“TSX”) as a technology company from the current TSX Venture Exchange (“TSX.V”) listing. Certain conditions must be met for the TSX uplisting, as well as approval of the TSX listing application.
If the TSX uplisting is successful, as soon as practical, Loop intends to begin the process of filing a Form F-1 Registration Statement with the Securities and Exchange Commission of the United States (“SEC”), enabling it to apply to be listed on the NASDAQ. The Board and legal advisors believe that a NASDAQ listing will be better served from a TSX company instead of TSX.V. Unfortunately, there is no guarantee that the SEC or the NASDAQ applications will be approved.
Loop may not continue with the uplisting to TSX or NASDAQ should the market conditions become unfavorable, they find themselves in additional regulatory or financial burden by being listed, or other conditions that could affect the business operations of the company.
Many companies that graduate to the TSX listing come from TSX.V listings (https:// nnw.fm/Ts35g). The benefits of uplisting to TSX from TSX.V include:
- Cost Savings – The TSX listing application fee will be waived for eligible TSX.V issuers, but original listings still apply.
- Reduction of Documentation – Some of the issuer information on file with TSX.V can be accessed by TSX, which lowers the number of documents required for submission.
- Waiver of Sponsorship – In some situations, the requirement for sponsorship may be waived for qualified TSX.V issuers.
Additional benefits of listing on TSX may include increased access to capital, greater visibility, enhanced liquidity on world markets and improved M&A opportunities.
Since its foundation, Loop Insights’ core goal was to become the first publicly traded, artificial intelligence, data play delivering the ability to connect and provide real-time data applications across in-store, e-commerce and m-commerce channels. The company achieved this goal in 2020, while beginning to commercialize and build a strong pipeline of tier-1 global brands.
The company’s innovative technology consists of a line of simple, yet powerful technologies designed to transform industries through the power of IoT technologies and artificial intelligence. The company’s proprietary products include Fobi, SmarTap, Loop Cloud, and Uklipz.
Fobi is an IoT device that is designed to integrate with point of sale or customer management infrastructures. SmarTap is a near field communication (“NFC”) device that consumers tap to check into location using the NFC capability of your smartphone. Loop Cloud brings together data points from both Fobi and SmarTap to create a unified database. Uklipz, which is expected to launch in January 2021, offers a next-generation platform that enables consumers to create video reviews that can be purchased, analyzed, and leveraged by brands to drive engagement and sales.
In addition, the company has deployed its technology to create a venue management platform designed specifically for COVID-19 tracing. This complete, end-to-end management platform enables venues and event hosts to manage attendees and instantly trace and notify potential at-risk visitors.
For more information, visit the company’s website at www.LoopInsights.ai
NOTE TO INVESTORS: The latest news and updates relating to RACMF are available in the company’s newsroom at https://nnw.fm/RACMF
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