Adcore Reaffirms Guidance for Fourth Quarter 2022 and Boosts Cash Position by 7%
TORONTO, ONTARIO – March 13, 2023 – Adcore Inc. (the “Company” or “Adcore”) (TSX:ADCO) (OTCQX:ADCOF), a leading e-commerce advertising management and automation platform to leverage digital marketing in an effortless and accessible way (“Effortless Marketing”), today announced that it has retained Bristol Capital Ltd. (“Bristol”) and Dr. Reuter Investor Relations (“Dr. Reuter”) for investor relations services in North America and Europe, respectively.
Bristol is a leading investor relations firm servicing Canadian and U.S. microcap and small cap companies across international markets providing investor relations and communication services. Dr. Reuter is a European investor relations agency that provides similar services into the European market.
Bristol has been engaged by the Company for an initial period of 12 months, which shall be renewed automatically for successive one-year periods thereafter unless terminated in accordance with the provisions of the agreement. Bristol will be paid a monthly fee of up to CAD $10,000, plus applicable taxes. In addition, the Company has agreed to grant Bristol an aggregate of 200,000 incentive stock options of the Company at an exercise price of CAD $0.35 per share for a period ending 36 months from the date of grant. Dr. Reuter has been engaged by the Company for an initial term of 6 months, which shall be renewed automatically for an additional 6-month period and afterwards one-month periods, unless terminated in accordance with the provisions of the agreement. Dr. Reuter will be paid a monthly fee of up to €3,000, plus applicable taxes. Neither Bristol nor Dr. Reuter nor its principals or affiliates have an interest, directly or indirectly in the Company or its securities and act at arm’s length to the Company.
The Company also announced that it terminated the engagement of IMS Investor Relations (“IMS”). IMS provided investor relations services to Adcore from January 1, 2021 to February 28, 2023.
Omri Brill, Adcore’s CEO commented: “We are excited to announce the engagement of Bristol Capital and Dr. Reuter for investor relations services in North America and Europe, respectively. As we continue to grow and expand our business, we recognize the importance of effective communication with our shareholders and the investment community. We are confident that Bristol and Dr. Reuter will provide us with the expertise and guidance necessary to enhance and reenergize our investor relations efforts, and we look forward to working with them. We would also like to take this opportunity to thank IMS Investor Relations for their services over the past two years. We appreciate their dedication and support during that time and wish them continued success in their future endeavors.”
Mr. Brill concluded: “At Adcore, we are committed to building a strong and transparent relationship with our shareholders and the investment community. We believe that our partnership with Bristol and Dr. Reuter will be an important part of achieving that important goal.”
Adcore is empowering entrepreneurs, advertisers, and the future of e-commerce through its advertising management and automation platform. By combining extensive industry knowledge and experience with its proprietary artificial intelligence engine, Adcore offers a unique digital marketing solution that empowers entrepreneurs and advertisers by managing and automating their e-commerce store advertising and monitoring and analyzing the performance of their advertising budget to ensure maximum Return on Investment. In addition to being named numerous times on Deloitte’s Fast 50 Technology list, Adcore is a certified Google Premier Partner, Elite Tier Microsoft Partner, Facebook Partner and TikTok Partner.
Established in 2006, the Company employs over fifty people in its headquarters in Tel Aviv, Israel and satellite offices in Toronto, Canada, Melbourne, Australia, Hong Kong and Shanghai, China.
For more information about Adcore, please visit https://www.adcore.com/investors/, https://www.adcore.com/blog or follow us on LinkedIn.
Founded in 2021 in the midst of the pandemic, Amphy is the world’s most diverse 24/7 live online learning marketplace. With Amphy, learners can choose from thousands of classes across hundreds of categories to grow their passions and skills, expand their children’s learning opportunities, and much more. Instructors on the Amphy platform join a vibrant virtual teacher community that promotes and supports their success through enrichment seminars, marketing and advertising, and a suite of tools that allow them to run their classes hassle-free and focus on their students. Amphy students gain access to high-quality, personalized classes accessible from 24/7, as well as join a growing community of lifelong learners.
For more on Amphy please visit – https://www.amphy.com/ and https://blog.amphy.com/ or follow us on LinkedIn, Facebook, Instagram and YouTube.
This press release contains certain forward-looking statements, including statements about the Company. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
For further information please contact:
Telephone: 905-326-1888 ext 1
Email: [email protected]
Investor Relations Europe
Dr. Eva Reuter
Dr. Reuter Investor Relations
Telephone: +49 (0) 69 1532 5857
Email: [email protected]