Nov 11, 2021
EonX Press Release
EonX Technologies Inc. (CSE:EONX), ("EonX" or the "Company") pleased to announce that it has signed a 5 year contract with Australian Venue Co. Pty Ltd (“AVC”) to deliver a range of customer experience, loyalty and payment solutions to AVC’s large and growing national customer base.
AVC owns and operates over 170+ of Australia’s leading and best loved entertainment and gaming venues, pubs, bars restaurants and spectacular event spaces. From landmark institutions to local hot spots, you will find AVC establishments in leading cities, suburbs and regional towns across Australia.
EonX will deliver the end-to-end AVC digital customer experience application (app) which is designed to influence customer spending behavior, increase revenue, improve retention and power real-time customer loyalty. Customers will earn points from their spending activity that can be redeemable on personalized offers and rewards within the AVC ecosystem.
EonX will receive an implementation fee of $500,000 paid once off, plus a license fee based on the number of AVC members registered to the app. For the term, the minimum license fee is calculated at $1,750,000, scaling to a maximum of $3,500,000 based on registered members.
EonX will also be paid for all bespoke technical solutions provided to AVC in order to further enhance the app’s reach and evolution. Post the initial term, upon renewal, EonX will charge an annual fee of a minimum of $350,000, and up to $700,000, based on registered member numbers annually.
Chief Executive Officer, Andrew Kallen, said “Australian Venue Co are leaders in the Australian hospitality, gaming and entertainment sector, and we are excited to partner with AVC in delivering a best in class customer experience, loyalty and payments platform for their customers. With this sector set to erupt post Covid-19 restrictions, we are proud to support the safe return of patrons into venues and to see some heartfelt smiles across the hospitality and entertainment industry across the country”.
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.