Loop Insights Achieves 100% Success in Delivering First Ever Fully Integrated “Venue Bubble” in Live Environments at NCAA College Basketball Tournaments. Live Demonstrations Lead to Significant Discussions About Largest North American Sporting Events

VANCOUVER, British Columbia, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Loop Insights Inc. (MTRX:TSXV) (RACMF:OTCQB) (the “Company” or “Loop”), a provider of contactless solutions and artificial intelligence (“AI”) to drive real-time insights, enhanced customer engagement and automated venue tracing to the brick and mortar space, is pleased to announce the successful execution of its “Venue Bubble” solution in two separate live environments hosting NCAA Division 1 basketball teams.

Loop Insights CEO Rob Anson stated, “There is simply no way to overstate the implications of our live environment Venue Bubble successes in Florida and Las Vegas over the past 10 days. With the whole world watching, including professional sports leagues and teams, college sports leagues and teams, world-renown venues and hospitality companies, Loop hit it out of the park and provided the world with the empirical data necessary to demonstrate our bubble solution is nothing short of world-class. To this end, we have already commenced significant discussions regarding the possibility of Loop protecting and helping to re-open some of North America’s largest sporting events in 2021.”

On October 8, 2020, Loop Insights announced it was selected as the Premier Venue Tracing and Fan Engagement Solution for NCAA College Basketball #VegasBubble in Las Vegas, where games are being played at MGM Grand Garden Arena, Mandalay Bay Events Center, and T-Mobile Arena between November 25 and December 22, 2020.

On November 9, 2020, Loop Insights announced it would Implement the First-Ever Fully Integrated "Venue Bubble" ( End-To-End Testing, Contact Tracing, and Alert Notifications) at the #BeachBubble NCAA College Basketball Tournament in Fort Myers, Florida, hosting 14 NCAA Division I men's and women's basketball teams in November and December that are playing at both Hertz Arena and Alico Arena (FGCU) while lodging at the Hyatt Regency.

The #BeachBubble implementation represented the first-ever end-to-end COVID-19 venue solution in a live environment and a major industry milestone given the global demand for venue solutions from enterprise-level organizations around the world. It was naturally extended to #VegasBubble.

bdG Sports CEO, Brooks Downing stated, “We are very excited with the performance and success of both Fort Myers and the Las Vegas Bubbles. The Loop Insights platform provided a great level of security while providing a very user-friendly experience for our participants. We look forward to working alongside Loop in upcoming future events.”

DATA CONFIRMS 100% SUCCESS AT BOTH #BEACHBUBBLE AND #VEGASBUBBLE TOURNAMENTS

With the #BeachBubble tournament having commenced earlier, the following interim statistics from that specific event can be shared with the public, similarities to which are also being generated at #VegasBubble.

Total Locations – 14

Total Enrolled Users – 553

Total Check-Ins – 3,830

Contact Tracing Checks - 2 reports had to be generated for potential infected cases, with tests confirming both were negative.

Conclusion – The Loop Insights Venue Bubble solution was 100% successful in containing the bubble. Moreover, the system did not suffer any outages and user experiences proved to be as seamless as anticipated, leading to overall satisfaction levels surpassing participant expectations and even Loop’s loftiest internal expectations.

SUCCESS OF VENUE BUBBLES CREATES SIGNIFICANT VISIBILITY AND OPPORTUNITY FOR LOOP #TRAVELBUBBLE SOLUTION SUPPORTED BY APPLE AND GOOGLE WALLET

As the resort convention capital of the world, the #VegasBubble provided Loop with the best possible opportunity to showcase its #TravelBubble solution for the global hospitality and travel industry, the latter of which is set to lose $USD 3.3 Trillion as a result of COVID-19.

To this end, Loop has completed all development and applications for the successful launch of its #TravelBubble solution that is completely embedded into one simple user interface - supported by Apple and Google wallet. Specifically, Loop provides a digital Wallet to users and assigns a digital ID to each user for the highest levels of security. Travelers are then able to upload COVID-19 testing results, vaccination certificates, boarding passes, airline loyalty rewards or points, travel insurance, driver's license, and payments in one interface.

LOOP IS FIRST TO MARKET WITH OPERATIONAL PLATFORM

This complete and ready to deploy solution has garnered greater attention, as a result of the Company’s Venue Bubble success, from large global players who are only beginning to build their solutions, such as IATA, aiming to launch a cross-border solution in the first quarter of 2021.

Loop not only is first to market with a complete operational platform built for deployment, it is also the first to successfully execute its solutions in a large, active, and live environment thanks to the success of the #BeachBubble and #VegasBubble.

This is critical given the fact airlines, who can no longer wait for governments to scale back blanket quarantines to re-build their businesses, have taken the lead to partner directly with hotels and destinations to launch their own private bubbles.

Rob Anson stated, “We are bringing a plug-and-play solution that can plug into any existing platform today. Recent high-level discussions within the airline industry confirm our advanced level of preparedness. Furthermore, we also meet the needs of the various travel bubbles and governments with public health officials looking to endorse the re-opening of economies, including the safe reopening of borders.”

As a result, Loop believes an exponential opportunity to license its entire platform or pieces of it to many potential clients such as IATA, Hotel Chains, Airlines, and Government.

LOOP TRAVEL BUBBLE SOLUTION SOLVES CURRENT QUARANTINE REQUIREMENTS THAT ARE SHUTTING DOWN INTERNATIONAL TRAVEL

As a result of the COVID-19 Pandemic, mandatory 14-day quarantine periods, and the lack of any travel bubble solutions that could reliably track and mitigate the global spread of the virus by plane or cruise ship, countries have been forced to take drastic measures that are leading to significant damage of the global travel industry.

Specifically, as of today, travel restrictions by country are as follows:

50 countries are completely closed

123 countries are partially open with MANDATORY quarantine upon arrival

(Source - https://www.ca.kayak.com/travel-restrictions)

With governments beginning to use rapid testing as a means of limiting the risks of COVID-19 importation when re-opening their borders to travelers without quarantine measures, Loop provides a means to ensure closed-loop COVID-19 testing and proof of vaccination is available for all international travelers, as well as, the information flow infrastructure needed to enable it.

$3.3 TRILLION IN LOSSES FOR GLOBAL TOURISM INDUSTRY

Without a solution to replace the drastic travel measures currently in place around the world, the United Nations Conference on Trade and Development (UNCTAD) reported that COVID-19 may cost the world tourism sector losses of US$ 3.3 trillion.

In Canada alone, according to Statista, the Canadian tourism industry contributed close to $40 billion to the economy in 2019. This year, the COVID-19 pandemic has had devastating consequences for the industry.

This press release is available on the Loop Insights Verified Forum on AGORACOM for shareholder discussion, questions, and engagement with management https://agoracom.com/ir/LoopInsights

About Loop Insights: Loop Insights Inc. is a Vancouver-based Internet of Things (“IoT”) technology company that delivers transformative artificial intelligence (“AI”) automated marketing, contact tracing, and contactless solutions to the brick and mortar space. Its unique IoT device, Fobi, enables data connectivity across online and on-premise platforms to provide real-time, detailed insights and automated, personalized engagement. Its ability to integrate seamlessly into existing infrastructure, and customize campaigns according to each vertical, creates a highly scalable solution for its prospective global clients that span industries. Loop Insights operates in the telecom, casino gaming, sports and entertainment, hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia. Loop’s products and services are backed by Amazon’s Partner Network.

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Forward-Looking Statements/Information: 

This news release contains certain statements which constitute forward-looking statements or information. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Loop’s control, including the impact of general economic conditions, industry conditions, and competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Loop believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Loop does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Loop should be considered highly speculative. There can be no assurance that Loop will be able to achieve all or any of its proposed objectives. 

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