21:03:12 EDT Sat 18 May 2024
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Riwi Corp
Symbol RIWI
Shares Issued 18,004,428
Close 2023-11-02 C$ 0.38
Market Cap C$ 6,841,683
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Riwi signs new contract for technology, data services

2023-11-03 17:12 ET - News Release

Mr. Greg Wong reports

RIWI SECURES $1.37 MILLION CAD CONTRACT FOR FIRST YEAR, WITH POTENTIAL FOR $4.11 MILLION TOTAL

Riwi Corp. has signed a new contract to provide survey technology services and automated data analytics for an international research organization. The contract value to Riwi is $1.37-million for the first 12 months, and the client has two option renewal years, for a total potential contract size of $4.11-million. A director of the company will be paid a finder's fee in the amount of 5 per cent of the contract value.

"This contract is a testament to our expertise and commitment to delivering high-quality data solutions for our clients," said Greg Wong, chief executive officer of Riwi. "We are delivering on our growth vision through a determination to win project-based revenue, recurring revenue and transactional revenue," added Mr. Wong.

Recurring revenue is revenue where a customer subscribes to either the Riwi platform or to one of its data products or services. Transactional revenue refers to Riwi revenue arising from matching survey respondents to an active survey commissioned on one of the global research marketplaces or to a direct end customer and the respondent completes the survey. Project-based revenue is where customers purchase Riwi data to run a specific survey or digital message test in one or more countries. "Working on new contracts of this nature positions the Riwi team well for long-term growth and innovation," said Mr. Wong.

About Riwi Corp.

Riwi is a 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 -- without collecting any personally identifiable data.

We seek Safe Harbor.

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