Ackroo $AKR to Acquire Software and Hardware Platform From M3 Rebel

Ackroo(TSX.V: AKR) (OTC PINK: AKRFF)

Ackroo Inc. and M3 Rebel are pleased to announce that the two companies have signed a letter of intent for Ackroo to acquire all of the assets relating to KESM/LoyalMark, M3 Rebel’s gift card and loyalty processing solution. Under the terms of the acquisition, Ackroo will acquire the LoyalMark software and hardware platform and all related customer contracts representing a very significant amount of recurring and one time revenue to Ackroo, and adds over 1,200 total locations in Canada plus another 1,200 in the US.

“The addition of M3 Rebel’s KESM/LoyalMark business is a huge step forward for the Company and further validates our strategy to both simplify and consolidate our industry. Combined we significantly increase the size of our customer base, almost double our recurring revenues and expand Ackroo into the United States. We gain technology advancement through product and feature offerings Ackroo does not have today, plus we gain several enterprise clients to better educate and guide the Company in this area. We gain key talent with domain experience and contacts in order to help us achieve our growth goals. Most importantly we add a significant amount of attributable margin that not only covers our current debt obligation but once normalized pushes the company into profitability. A very material advancement for the Company and our shareholders.”

-Steve Levely, Chief Executive Officer of Ackroo

Completion of the acquisition remains subject to a number of conditions, including the negotiation of a definitive agreement, the approval of the TSX Venture Exchange, and such other closing conditions as are customary in transactions of this nature. There can be no assurance that such conditions will be satisfied and that the transaction will be completed as disclosed