CALGARY, ALBERTA--(Marketwired - June 15, 2017) - DeepMarkit Corp., ("DeepMarkit" or the "Corporation") (TSX VENTURE:MKT)(OTCQB:MKTDF) a producer of gamified marketing solutions for businesses of all sizes, is very pleased to announce that it has concluded a private placement with Allstate Enterprise Consulting Limited ("Allstate"), a private Hong Kong company specializing in discovering and creating quality assets, asset management and asset securitization.
Allstate has agreed to purchase 12,500,000 common shares of DeepMarkit at a price of $0.12 per share for total gross proceeds of $1,500,000. Allstate will also receive warrants to purchase up to an additional 6,500,000 shares at $0.15 per share which, if exercised, would result in additional gross proceeds of $1 million. The warrants have a term of 180 days from the date of issuance.
DeepMarkit and Allstate will collaborate on a business strategy and distribution partnership to bring DeepMarkit's gamified promotions platform into the Chinese market through Allstate's extensive network of over 15,000 agents.
Proceeds from the strategic investment will be used to develop the localized Chinese market version of DeepMarkit's promotions platform, for North America and Asian marketing and for working capital purposes.
With 450,000,000 mobile gamers, the potential to bring gamified promotions into China is a tremendous opportunity. 96% of mobile devices in China have at least one game installed on them and over 280,000,000 mobile gamers spend over 20 minutes per day playing games on their mobile devices. DeepMarkit will be developing a version of its promotions platform specifically tailored to the rapidly growing Chinese market.
"Having a strategic investor with expert local knowledge and strong relationships will greatly assist us in our plans to expand into the Mainland Chinese market," commented Ranjeet Sundher, Director, Corporate Development for DeepMarkit, "We see this investment as a strong vote of confidence in our Company and the potential of our digital marketing platform in China. We are excited to begin work on the business and product strategy for this huge market opportunity."
Completion of the private placement is subject to regulatory approval, including approval of the TSX Venture Exchange. The common shares and warrants issued will be subject to a four-month hold from the date of issuance.
In connection with the private placement, a finder's fee of $150,000 in cash will be paid to Randleson Holdings Limited, a private Hong Kong company.
DeepMarkit is a gamification technology company inventing new ways to engage consumers and other audiences. The Company's proprietary promotions platform enables businesses and agencies to create branded games that incentivize customers, thus driving sales, capturing data and generating leads. DeepMarkit integrates next-gen gamification engagement mechanics with interactive advertising industry standards to offer marketers an advanced solution suitable for campaigns of all sizes, targeting multiple channels on the web, mobile and social media.
DeepMarkit's suite of HTML5 games and gaming solutions for are designed for social media, messaging apps, and other online community services. Instant games can be added to any online environment to encourage usage by providing a fun way to engage audiences with competitive or collaborative games. DeepMarkit offers numerous options to monetize through custom branded games, product placement, corporate sponsorships and prize and incentive awards.
DeepMarkit's shares are listed on the TSX Venture Exchange, trading under the symbol MKT and on the OTCQB trading under the symbol MKTDF. For additional information, please visit www.deepmarkit.com or www.fetchbot.com.
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Neither the 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 news release.
Statements in this press release may contain forward-looking information including, statements regarding the proposed strategic investment, the development of a China focused product and the sale of products in the China market. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of DeepMarkit. Factors that could cause the actual results to differ materially from those in forward-looking statements include, failure to complete the strategic investment, develop viable China product or achieve sales in China, failure to obtain market acceptance of the Company's products, inability to complete further development of the product or business, the failure to raise required additional capital, and general economic, market or business conditions. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this press release are made as of the date of this press release and DeepMarkit does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities law.