Toronto, Ontario--(Newsfile Corp. - March 6, 2025) - RIWI Corp. (TSXV: RIWI) (OTC Pink: RWCRF) (the "Company" or "RIWI"), a market research platform, global trend-tracking and prediction technology firm, provides a general corporate update. All figures are reported in US Dollars unless otherwise indicated. RIWI's financial statements are prepared in accordance with International Financial Reporting Standards ("IFRS").
RIWI announces the appointment of Travis Campbell as Corporate Secretary effective April 1, 2025. Mr. Campbell joined RIWI as Chief Financial Officer on May 15, 2023, and will now take on the additional duties and responsibilities of Corporate Secretary.
RIWI further announces an amendment to the share purchase agreement with TheoremReach Inc. ("TheoremReach") that was announced on October 10, 2024. Earnouts are earned based on specific performance achievements of the TheoremReach business through the 2025 calendar year. Earnouts, if achieved, may be paid out in either cash or shares, at RIWI's discretion. Based on feedback from the TSX Venture Exchange, the earnout portion of the share purchase agreement has been amended to set a floor price of $0.69 CAD per common share should RIWI choose to pay the earnout in shares.
RIWI is pleased to report that the technical integration of the TheoremReach respondent marketplace has proceeded swiftly and with success. TheoremReach serves as a survey monetization platform that seamlessly connects app developers, website owners, and market researchers with RIWI's global audience - to deliver real-time insights programmatically. For this reason, management is happy to report that its transactional revenue systems and processes from the Company's respondent marketplace, the fastest-growth revenue category for the Company, are already 75% integrated with TheoremReach, and the pre-existing transactional-revenue technical team at RIWI has been fully merged with the TheoremReach personnel. Management expects that there will be a complete systems integration by the end of the first quarter of 2025 and that TheoremReach's robust sampling solutions will become a core part of RIWI's full-service projects, another category of the Company's revenues, by the end of the second quarter of 2025. Further to the Company's acquisition of TheoremReach on October 10, 2024, RIWI has achieved $15,000 per month of the expected integration cost savings, with the remaining $5,000 per month expected in the second quarter of 2025.
Additionally, management reports that the recent change in the administration of the US government and the abrupt subsequent changes to US-government funding for USAID - a US agency that funds US-based consultancies that serve as certain RIWI clients - has resulted in several active contracts and pipeline opportunities being canceled. This unexpected development will necessitate a strategic change to RIWI's sales and business development personnel efforts, since, at present, these cancellations would otherwise result in an expected negative revenue impact of approximately $600,000 to RIWI for the 2025 fiscal year. Accordingly, RIWI's international development business is repositioning its sales efforts toward US-based opportunities in both the private and public sectors, and is seeking to expand its business with RIWI's other clients, which are far less susceptible to sudden funding changes by the US government.
Further, RIWI is pleased to announce the public release of its inaugural Packaging Solution for the global consumer packaged goods sector, designed to predict both the shopability and desirability of product packaging. This innovative, AI-enhanced quantitative research solution leverages RIWI's cutting-edge platform and sampling capabilities, seamlessly integrating neuromarketing techniques and implicit testing methodologies that have earned positive client reception during proof-of-concept trials.
This AI-enhanced approach helps brands create packaging that not only captures attention on crowded shelves but also forges powerful emotional connections with consumers. In order to win new sales, RIWI has been invited to showcase this innovative solution at key industry events, including Quirk's Chicago and New York conferences, as well as at the Pangborn Sensory Symposium.
"The market for RIWI solutions has been evolving quickly with several changes, some positive and some disruptive in the last few months," says Greg Wong, Chief Executive Officer of RIWI. "We are immensely excited about the new products we are bringing to market using the RIWI platform as the backbone to meet client needs, such as our new Packaging Solution, which has already resulted in the signing of a Fortune 200 customer."
About RIWI
RIWI is a market research platform and global trend-tracking and prediction technology firm. On a monthly or annual subscription basis, RIWI offers its clients tracking surveys, continuous risk monitoring, predictive analytics and ad effectiveness tests in all countries. https://riwi.com
For more information, please contact investors@riwi.comor call 1-833-FOR-RIWI (367-7494)
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTION REGARDING FORWARD-LOOKING INFORMATION:
Information and statements contained in this news release that are not historical facts are "forward-looking information" within the meaning of Canadian securities legislation that involves risks and uncertainties. Forward-looking information included herein is made as of the date of this news release and RIWI does not intend, and does not assume any obligation, to update forward-looking information unless required by applicable securities laws. Forward-looking information relates to future events or future performance and reflects management of the Company's expectations or beliefs regarding future events. This forward-looking information is based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information.
