Intouch Insight Ltd. (TSXV: INX) (OTCQX: INXSF) (“Intouch” or the “Company”), a provider of customer experience measurement solutions, today provided an update on its merchandising initiatives and related growth activities.
As part of its broader growth strategy, Intouch continues to expand its merchandising capabilities, building on the Company’s established reputation and relationships with national and regional brands.
Key updates include:
Renewal of a ClearPoint client in the petro convenience industry, with services having commenced in March
The addition of a salesperson dedicated to merchandising services, supporting the development of an active sales pipeline
Continued advancement of merchandising service offerings aligned with customer experience measurement and compliance programs
Refinancing its existing loan from BDC Capital to allow for additional growth capital of up to $1.38M.
Cameron Watt, President and Chief Executive Officer of Intouch Insight, commented:
“Merchandising represents an important opportunity for Intouch as we continue to broaden the services we provide to clients. By building on our industry experience and existing client relationships, we believe merchandising can complement our core customer experience offerings and support our long-term growth objectives. We are pleased to have a partner in BDC that is helping us deliver on our strategy.”
The Company noted that merchandising initiatives are progressing alongside investments in sales, marketing, and technology. These initiatives form part of Intouch’s broader strategy to create sustainable growth while continuing to deliver value to clients and shareholders.
To support these initiatives, the Company is refinancing its existing BDC Capital loan, providing flexibility to draw on additional growth capital as needed. Under the terms of the refinancing, the total BDC debt could be increased to $2.6M with principal repayments deferred until February 2028 and then continue in equal installments of $30,000 until December 2030, followed by a balloon payment of $1.55M in January 2031. Interest would be payable monthly at a floating interest rate based on BDC floating base rate plus 4.25%, currently at 10.8%.
About Intouch Insight
Intouch Insight offers a complete portfolio of customer experience management (CEM) products and services that help global brands delight their customers, strengthen brand reputation and improve financial performance. Intouch helps clients collect and centralize data from multiple customer touch points, gives them actionable, real-time insights, and provides them with the tools to continuously improve customer experience. Founded in 1992, Intouch is trusted by over 300 of North America’s most-loved brands for their customer experience management, customer survey, mystery shopping, mobile forms, operational and compliance audits, geolocation data capture and event marketing automation solutions. For more information, visit intouchinsight.com.
Certain statements included in this news release contain forward looking statements that are made of the date hereof, which by their nature are necessarily subject to risks and uncertainties and other factors that may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such statements reflect the Company’s current views with respect to future events, including the acquisition, future revenues and references to the Company’s expansion and growth of the business and operations, and are based on information currently available to the Company and on hypotheses which it considers to be reasonable; however, management warns the reader that hypotheses relative to future events which are beyond the control of management could prove to be false, given that they are subject to certain risks and uncertainties. Please refer to the risks set forth in the Company’s most recent annual MD&A and the Company’s continuous disclosure documents that can be found on SEDAR at www.sedar.com. The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Cathy Smith
Chief Financial Officer
csmith@intouchinsight.com
613-270-7916