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News Update

TICKERS: MTRX

AI Tech Firm Provides COVID-19 Contact Tracing Solution Update
News Update

Source:

Loop Insights continues to educate governments and venue operators around the world about its easily implemented platform.

Loop Insights Inc. (MTRX:TSX.V) announced in a news release that its discussions with various government, live events and stadium officials about its automated COVID-19 contact tracing solution have gained traction since its June launch.

"Receiving this level of interest across verticals and geographical borders is a true testament to Loop's unique Internet of Things connectivity capabilities," CEO Rob Anson said in the release. "Our core technology has always been built on automation, simplicity and usability. To be able to support the health, safety, and economic recovery of communities is incredibly motivating. Our opportunity to expand Loop’s global reach has never been greater."

Interest has come from the United Kingdom, North America, Australia and Indonesia.

Loop noted that its contract tracing platform seamlessly integrates into entities' existing technologies through its SIM-enabled connectivity and compatibility with up to 40 languages. As such, it can be deployed quickly anywhere around the globe and scaled up as needed.

The Vancouver-based artificial intelligence tech firm stated that from its contracts with governments for the contact tracing platform, will garner revenue in various forms: onboarding fees per location, an annual software licensing and service fee and, on ongoing basis, active user fees.

From its contracts with venue operators, Loop will generate revenue from onboarding fees, monthly Software as a Service subscription fees and active user fees, the company noted.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Loop Insights. Please click here for more information. Within the last six months, an affiliate of Streetwise Reports has disseminated information about the private placement of the following companies mentioned in this article: Loop Insights.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Loop Insights, a company mentioned in this article.




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