Datable Technology Corp. (DAC:TSX.V; TTMZF:OTCMKTS) announced in a news release it signed three new agreements, with an estimated total value of about $184,000, to provide licenses for certain modules of its digital marketing software suite PLATFORM³ along with digital rewards.
"PLATFORM³ is being used by some of our customers under long-term licenses where they build loyalty with consumers while collecting data that enhances product development and marketing. Other customers use our solution to launch multiple short-term marketing programs to drive incremental sales and launch new products. These new agreements are with repeat customers who have had success using PLATFORM³ to achieve their goals," CEO Rob Craig said in the release.
Two of the agreements are U.S. based while the third relates to Canada.
One of the U.S. agreements is with a developer and distributor of vaping products, which renewed its annual PLATFORM³ subscription, for an additional two years starting in July 2020, and its loyalty and rewards program in the U.S.
The second U.S. agreement is with a national packaged meat products producer and distributor for a marketing and associated rewards program. Consumers in the United States who buy a qualifying amount of the company's products in September 2020 will be entered into a sweepstakes to win prizes.
A large manufacturer and distributor of chocolate products signed on for a rewards program. Canadian customers who purchase the company's products between August and November 2020 will receive a free movie download from a national cinema chain.
So far in 2020, Datable entered into 23 new agreements, "which together with existing license agreements signed in prior periods represent contracted revenues of over $3.6 million, of which approximately 60% is expected to be recognized in 2020," the release noted.
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