23:39:52 EDT Fri 09 Jun 2023
Enter Symbol
or Name

Perk Labs Inc
Symbol PERK
Shares Issued 206,890,164
Close 2023-03-01 C$ 0.03
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Perk Labs completes merger with Getit Technologies

2023-03-02 15:26 ET - News Release

Mr. Ryan Hardy reports


Perk Labs Inc. and Getit Technologies Inc. have completed their previously announced merger to create a leading solutions company in digital ordering, loyalty and last-mile logistics. The acquisition was completed by way of a share exchange, pursuant to which the company issued an equivalent value of $4,655,000 in common shares of the company at a deemed price of 2.5 cents per share in exchange for all of the issued and outstanding shares of Getit.

Ryan Hardy, the chief executive officer of Getit, who is now the new CEO of the company, said: "The merger of Perk Labs and Getit is an exciting milestone for both companies. By bringing together our technologies and expertise, we will be able to accelerate the development of innovative delivery, digital ordering and loyalty solutions that help merchants engage and retain customers. I am thrilled to lead the combined company and work with our talented team to drive growth and create value for our customers and shareholders."

Jonathan Hoyles, former CEO of the company who is now the chief legal officer, said: "The closing of this merger represents an exciting new chapter for the company. We are thrilled to join forces with Getit to create a stronger, more innovative company that is better positioned to capitalize on the growing demand for our products. The combination of Perk Hero and Getit's technology platforms will provide merchants with a powerful, easy-to-use solution that will help them build deeper relationships with their customers and grow their businesses."

As part of the merger, the company will be changing its name and ticker symbol to reflect the combined entity. The new name and ticker symbol will be announced in a future press release, and the company will provide additional information on the rebranding process and timing. The new name and ticker symbol will better reflect the company's expanded product offerings, vision, and mission to provide innovative and integrated delivery, digital ordering, and loyalty solutions to merchants and consumers. The company is committed to ensuring a seamless transition for its customers, shareholders, and stakeholders, and will provide updates as they become available.

Concurrent with the closing of the merger, the company entered into a lockup agreement with the four largest shareholders of Getit. Pursuant to the lockup agreement, the four largest shareholders have agreed not to sell, assign or otherwise transfer the common shares of the company received, other than pursuant to certain exceptions described in the lockup agreement. The lockup period expires on Feb. 28, 2024.

In connection with the merger, Steve Cadigan and James Topham have stepped down from the board of directors of the company. The company would like to thank Mr. Cadigan and Mr. Topham for their valuable contributions and wish them all the best in their future endeavours. Newly appointed to the board of directors of the company are the co-founders of Getit, Ben Lacroix, and Ryan Hardy, CEO of the company. Patrick Power will assume the position of audit committee chair, succeeding James Topham.

About Perk Labs Inc.

Perk Labs is the owner of Getit and Perk Hero, the company specializes in technology, logistics and connecting communities. The company's digital payments and loyalty software empowers merchants to optimize their business and customer journey. The company's marketplace and driver network connects and supports their business with additional sales and flexible last-mile delivery options.

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