Engagement Labs Announces It Has Been Awarded Patent for TotalSocial from US Patent and Trademark Office
New Brunswick, NJ/Toronto, ON — December 22, 2021 — Engagement Labs Inc. (TSXV: EL) (the “Company”) announced today that it has been awarded a patent by the United States Patent and Trademark Office awarded for TotalSocial, it’s data and analytics platform that uniquely measures offline and online conversation about brands and their impact on business outcomes.
Officially titled “System and Method for Measuring Social Influence of a Brand For Improving the Brand’s Performance,” the patent is based on the proprietary method by which the Company integrates offline and online conversational data for nearly 1000 brands in the U.S. and tie that data to business outcomes such as sales, brand health, and media amplification.
“Being awarded a U.S. patent is a powerful testament to our new technology's leadership. It also illustrates the significant progress we made in intellectual property creation and protection,” said Steven Brown, President and Chief Revenue Officer. “This patent confirms the uniqueness of Engagement Labs’ TotalSocial core technology and our customers can feel confident of our solutions, even as its practical value is something that marketers and insights leaders have been confirming since the launch of TotalSocial.”
The Company is in the process of completing next steps to finalize its previously announced merger agreement with DGTL Holdings Inc. (“DGTL”). Since the Company’s last update on November 25th, DGTL completed a financing that satisfied a key condition to closing the Plan of Arrangement (the "Arrangement") between the Company and DGTL dated August 11, 2021, as amended. A January 6, 2022 court date has been set for the Company to seek an interim court order to permit the Company to put the proposed Arrangement to shareholders for their approval at a virtual shareholders meeting, which is scheduled for February 14, 2022. Under the terms of the Arrangement, the Company’s Chief Financial Officer and President/CRO will remain with the Company following the merger. Ed Keller, the Company's CEO will remain with the Company through the completion date of the transaction after which he is expected to depart based on mutually negotiated terms. As part of the Arrangement, Mr. Keller will receive special consideration upon the Arrangement becoming effective, including an award of 261,250 DGTL warrants. Mr. Keller will also be exempt from the requirement applicable to all other directors and officers of the Company to hold their shares for a period of one year following the effective date of the Arrangement. The Company also announces that Mr. Keller intends to sell up to 105,000 EL shares between now and the end of 2021 for tax purposes. The Company will provide further updates on each step in this ongoing process as they are completed. Both companies are targeting a final closing of the merger in Q1 of 2022.
About Engagement Labs
Engagement Labs (TSXV: EL) is an industry-leading data and analytics firm that provides social intelligence for Fortune 500 brands and companies.
To learn more visit www.engagementlabs.com
Disclaimer in regard to Forward-looking Statements
Certain statements included herein constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward-looking statements. Except as required by law, Engagement Labs does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events.
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