MoPals.com, Inc., an Emerging Mobile Loyalty Award Company Announces Completion of Private Placements
TORONTO, ON–(Marketwired – Sep 21, 2015) – MoPals.com, Inc. (OTCQB: PALS) ), (“MoPals”) (the “Company”) the world’s first free loyalty rewards program for businesses of all sizes announces the completion of two stock purchase agreements pursuant to which MoPals issued an aggregate of 1,306,816 shares of the Company’s common stock at a price of $0.25 USD per share, for aggregate proceeds to the Company of $326,704 USD. The net proceeds of the private placements will be used for the continuing execution of the Company’s business model and for working capital and for general corporate purposes.
MoPals operates a “rebate-based” mobile loyalty platform that is well-positioned to forever transform how businesses interact with existing and prospective customers. The Company has created the first and only loyalty & CRM platform to provide a completely free, holistic solution to partnering businesses. Unlike its competitors, MoPals provides a full suite of loyalty solutions to its retail partners without the typically annoying access fees, setup fees, transaction fees, or long-term contracts.
“The market opportunity for our loyalty and mobile advertising programs is tremendous,” stated Alex Haditaghi, founder and CEO of MoPals, Inc. “From the neighborhood pizza store to Fortune 500 companies, the technology behind our hardware and software solutions provides retailers with direct and instant access to millions of users. When integrated with our Customer Analytics Platform, which provides business owners with multiple levels of valuable, real-time metrics such as who their customers are, how much they spend, how often they visit and when they are not visiting, I believe MoPals is uniquely positioned to be a leader in this rapidly-growing industry,” added Haditaghi.
According to recent reports, the loyalty rewards market is significant in both size and breadth:
- The loyalty market in the U.S. is over $50 billion annually
- U.S. consumers hold 3.3 billion memberships in customer loyalty programs
- The average U.S. household has signed up for 29 Loyalty Programs
- U.S. mobile advertising spending reached $18 billion in 2014
- Mobile is growing faster than all other digital formats in the U.S. and is expected to grow to $42 billion by 2018, a 43% CAGR
- Daily deal websites are expected to reach $5.2 billion in revenues in the U.S. in 2015, representing an annual growth rate of over 600%
Alongside the Company’s unique retail-to-consumer technology, MoPals Businesses are able to provide members with targeted, relevant offers and promotions directly to their smartphones via beacon-triggered messages. MoPals members can also earn additional rewards when taking advantage of these offers, which increases the likelihood that they will visit more often and spend even more at MoPals affiliated businesses.
To review the Company’s September 14, 2015 8-K filing, which includes additional information on the private placements, as well a list of the Company’s financial reports, please visit the Investor page at www.mopals.com or the Securities & Exchange web site at www.sec.gov.
ABOUT MOPALS.COM, INC.
MoPals.com, Inc., based in Toronto, Ontario Canada is a publicly-traded company and is focused on creating an international beacon-enabled loyalty rewards program for consumers and small businesses. MoPals’ mobile-based, big data-driven platform provides its members with exclusive offers and gives them up to twenty-five percent back in rewards for making purchases at participating businesses. MoPals members also earn rewards for engaging in a number of social activities such as: sharing photos, writing reviews and recommending businesses to their friends. For more information, visit www.MoPals.com.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov.
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