VANCOUVER, British Columbia (February 2, 2021) – Datable Technology Corporation (TSXV: DAC) (OTC Pink: TTMZF) (the “Company” or “Datable” or “DTC”), a software company that provides a marketing automation platform called PLATFORM³ to global consumer brands, announces that it has signed two new license agreements, for a total of close to $200,000 in contracted revenues.
Datable now has over $3.3 million in contracted revenue for future periods, of which approximately $3 million is expected to be recognized as revenue in 2021. As announced previously, Datable expects to report revenues of approximately $1.9 million for the year ended December 31, 2020, such current contacted revenues represent revenue growth of over 50% for the year ended December 31, 2021.
Both agreements were signed in January 2021 to provide PLATFORM³ and related services including:
– An agreement to extend the term of the Managed Services agreement with a leading global media and entertainment company until May 2022. The customer signed over $800,000 in contracts with Datable in 2020 and has been a customer since 2018; and
– An agreement with a leading advertising agency to provide PLATFORM³ to a leading global health and beauty company to enable a program where consumers will be rewarded with virtual Visa cards for buying a qualifying amount of products in the U.S. The leading adverting agency signed contracts for over $1.6 million with Datable in 2020.
“We have strived to provide measurable ROI to leading brands over the last few years. It is very encouraging to see our largest customers and industry partners validating our performance with new contracts early in 2021,” said Robert Craig, Datable’s CEO. “After a breakthrough year in record in 2020, we already have strong revenue growth booked for 2021, with a growing pipeline of renewals and new customers.”
On January 21, 2021, the Company awarded a total of 4,050,000 restricted share units (“RSUs”) to directors, key employees and consultants. On the same day, the Company also granted stock options to employees of the Company to purchase 1,150,000 common shares in the capital of the Company at an exercise price of $0.095. The stock options are granted for a five-year term.
For further information, please contact:
Datable Technology Corp.
Chief Executive Officer
About Datable Technology Corporation
Datable 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 proprietary technology to monetize the consumer data, including demographics and purchasing behaviour, by sending consumers targeted offers by email and text messages. For more information, visit datablecorp.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.