Jul 13, 2021
EonX Press Release
EonX Technologies Inc. (CSE:EONX), ("EonX" or the "Company") is pleased to announce that it has signed a contract with Stramit Corporation Pty Ltd ("Stramit") to deliver payment and loyalty solutions to their thousands of end business customers.
Stramit is a division of ASX listed Fletcher Building Ltd (Market Cap $5.5B, FY2019 Revenue $7.3B), one of the largest building supply companies in Australasia, supplying products to a national network of businesses and contractors across the industry. EonX will provide Stramit with the SteelCred Program, designed to reward Stramit customers by influencing their spending behavior to help grow Stramit's market share. Customers will earn points from their spending activity that can be redeemable on a wide selection of rewards, products and gift cards via the EonX marketplace.
EonX will receive transaction fees on VISA and MASTERCARD payment processing, and process all marketplace rewards points and transactions on its platform. EonX will also receive a software platform fee of $625,000 including $355,000 payable in the first two years of the contract period and an additional two-year option for a further $270,000.
Chief Executive Officer, Andrew Kallen, said "We are proud to be delivering our loyalty and payments technology to the building industry via Stramit, and are excited about the opportunity to help service the dynamic building industry in Australia, which has recently been supported by the Australian Government's 10 Year Infrastructure Program, with a $110 billion investment launched to help build Australia from the COVID-19 pandemic."
EonX will provide further updates on transactional revenue received from this contract in the fourth quarter of 2021.
On behalf of the board of directors of EonX Technologies Inc. “Andrew Kallen” Andrew Kallen, CEO
For more information about EonX, contact: Andrew Kallen Chief Executive Officer EonX Technologies Inc.
The CSE does not accept responsibility for the adequacy or accuracy of this news release.
Notice regarding Forward Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties as described in the Company's filings with Canadian securities regulators. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.