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TORONTO, November 23, 2022 (GLOBE NEWSWIRE) — Clip Money Inc. (TSX-V: CLIP) (OTCQB: CLPMF) (“clip money” or “Company”), a company that operates a multi-bank self-service deposit system for businesses, is pleased to announce financial results for the three and nine months ended September 30, 2022.
Q3 2022 Highlights
- Clip Money’s cash deposit network has officially gone live in the United States (seewe”) In July 2022, we will accept business deposits at ClipDrop Box locations nationwide.
- Trading volume continues to grow steadily. He saw a 91% increase in total transactions in Q3 2022 compared to Q2 2022. The pipeline of new users is robust and growing, and we expect continued quarterly growth acceleration.
- The ClipDrop network is now over 325 units. There were 100 new installs in Q3, following a record Q2 of 169 installs. ClipDrop’s are strategically and conveniently located in upscale malls and large retail stores across the United States. We are committed to expanding our network to meet the needs of our current business users and attracting new customers across the US and Canadian markets.
- Clip continues to expand its malls ahead of the holiday shopping season, signing 22 deals with leading US outdoor lifestyle outlet mall operators. The announcement complements his Clip agreement with Brookfield Properties for installations at 70 malls previously announced this quarter.
- Clip Money was named “Best CashTech Startup” at the CashTech Innovation Awards held at the “Future of Cash Conference” in Madrid, Spain on September 15, 2022. Those who leverage software and modern communications technology to improve cash services, including access to consumers and businesses. Facilitate acceptance of cash by retailers across all channels. Increase the overall efficiency, resilience and sustainability of cash.
- ClipMoney Inc. shares are listed on the TSX Venture Exchange and in the US on the OTCQB Venture Market. The Company currently holds its shares in a depositary trust company (“DTCs”) in the United States under the ticker symbol CLPMF.
“This quarter marked a significant milestone as we welcomed our first clients to our network in the United States, and we opened 100 new major locations in major malls across the United States. We look forward to starting monetizing processing opportunities.Client feedback and interest in our solutions is a result of the value Clip provides to retailers in today’s labor and cost-intensive environment. , continues to be strong, and this value will generate interest and allow Clip to grow its trading volume and revenue in the coming quarters.”
– Joe Arage (CEO & Co-Founder)
Additional Information
The Company’s Interim Condensed Consolidated Financial Statements, Notes to the Financial Statements, and Management’s Discussion and Analysis for the three and nine months ended September 30, 2022 can be found in the Company’s SEDAR profile at www.sedar.com. Available. Unless otherwise stated, all “$” in this press release refer to Canadian dollars.
Forward-Looking Statements
This news release may contain forward-looking statements (within the meaning of applicable securities laws) that reflect our current expectations regarding future events. Forward-looking statements “believe,” “expect,” “predict,” “anticipate,” “intend,” “plan,” “may,” “may,” and “estimate.” Identified by words such as and other similar expressions. These statements are based on our expectations, estimates, projections and projections and include, but are not limited to, statements regarding the future success of our business.
Forward-looking statements in this news release are based on certain assumptions. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from those described in the forward-looking statements. Accordingly, readers should not place undue reliance on such forward-looking statements. In addition, these forward-looking statements are made only as of the date of this news release and may or may not be the result of new information, except as expressly required by applicable law. and does not undertake any obligation to publicly update or revise any forward-looking statements. , future events or otherwise.
NEITHER TSXV NOR ITS REGULATORY SERVICE PROVIDERS (TERMS AS DEFINED IN THE TSXV POLICIES) ASSUME ANY RESPONSIBILITY FOR THE SUITABILITY OR ACCURACY OF THIS RELEASE.
About Clip Money Co., Ltd.
Clip Money operates a multi-bank self-service deposit system for businesses through ClipDrop Boxes, allowing users to make deposits outside bank branches in major retailers and shopping malls. Businesses don’t have to go to a private bank branch or use a cash pickup service, they can deposit cash in his ClipDrop Box nearby. Once deposited, the funds are automatically deposited into the company’s bank account, usually within one business day. The company combines functional hardware, intuitive mobile apps, and an innovative cloud-based transaction engine that maximizes business banking transactions. Combined with a mobile user application, Clip Money offers a cost-effective and convenient solution for business banking deposits in metropolitan areas of Canada and the United States. For more information about the company, please visit www.clipmoney.com.
For more information, please contact:
Joseph Allage
Chief executive officer
IR@clipmoney.com
Phone: 844-593-2547
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