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Ackroo is paying down debt as part of capital allocation strategy, The Canadian Business Journal

HAMILTON, ON, September 15, 2022 (GLOBE NEWSWIRE) — Ackroo Inc. (TSX-V: AKR; OTC: AKRFF), a provider of loyalty marketing, payment and POS technology and services (“We”), The company announced that it has paid off more than $650,000 of debt from current cash flow in the third quarter of 2022. We are now profitable and cash flow positive, so the distribution of these profits is a key focus for us. One of our goals for 2022 is to return the debt to income ratio to less than 3:1. These payments allow us to meet our goals as we continue to focus on driving revenue growth in our business. The payment also allows the company to keep his low 7.5% tiered interest rate from partners such as BDC, saving him over $75,000 this year alone.

Ackroo CEO Steve Levely said: “We are focused on generating cash in our business to drive growth while continuing to streamline our business. , can continue to improve the balance sheet in general to lower the debt to income ratio etc. In time it will be eliminated and the majority of the repayments will keep interest rates pegged at 2021 levels We have a multi-stage capital allocation plan over the next few years and debt repayment is certainly an important part of that strategy.”

About Acre

Through vendor and industry integrations, Ackroo provides marketing, payment and POS solutions for merchants of all sizes. Ackroo’s self-service, data-driven, cloud-based marketing platform helps merchants process in-store and online, and manage point-of-sale loyalty, gift card, and promotional transactions. Ackroo’s payment services offer merchants low-cost payment processing options through one of the world’s largest payment technology and service providers. Ackroo’s hybrid management and POS solutions help manage and optimize common operations in niche industries such as golf clubs, car dealerships, and more. All solutions are focused on helping clients integrate, simplify, and improve their merchant marketing, payments, and POS ecosystems. Ackroo is headquartered in Hamilton, Ontario, Canada. For more information, see: www.ackroo.com.

For more information, please contact:

Steve Reverie
Chief Executive Officer | Acre
Phone: 416-360-5619 x730
Email: [email protected]

TSX Venture Exchange neither endorses nor disapproves of the contents of this press release. Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

Forward-Looking Statements
This release contains forecasts and forward-looking statements that are not guarantees of future performance or activities and involve risks and uncertainties. We make these forward-looking statements in light of management’s experience and recognition of historical trends, current conditions, expected future developments and other factors that we believe to be appropriate. and evaluation. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated by these forward-looking statements include, but are not limited to: It will not be. the overall global economic environment; the impact of competition and new technologies; general market, political and economic conditions in the countries in which we operate; Projected capital expenditures and liquidity. changes in our strategy; government regulations and approvals; changing client budgeting priorities; In addition, other factors that may arise. The forward-looking statements in this press release are made as of the date of this press release and the Company does not make forward-looking statements as a result of new information, future events or otherwise, unless necessary. We undertake no obligation to publicly update or revise any statements regarding By law.

CBJ Newsmaker

Ackroo is paying down debt as part of capital allocation strategy, The Canadian Business Journal

Source link Ackroo is paying down debt as part of capital allocation strategy, The Canadian Business Journal

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