TORONTO, July 29, 2026 (GLOBE NEWSWIRE) -- Clip Money Inc. (TSX-V: CLIP) ("Clip Money" or the "Company"), a company that operates a multi-bank self-service deposit system for businesses, is pleased to announce that it has entered into a master services agreement (the "Agreement") in respect of a commercial partnership that provides for a joint go-to-market and solution development, with both parties providing operational and technology elements and expertise.
The Agreement provides for an upfront commercial fee of US$1.75 million payable to the Company on signing of the Agreement, and up to an additional US$2.75 million in payments contingent on the achievement of specified milestones, representing a total potential contract value of up to US$4.5 million.
The Agreement has an initial term of seven years, with automatic renewals for successive two-year terms unless the Agreement is terminated in accordance with its terms. The Agreement does not include minimum revenue or purchase commitments beyond the commercial integration and milestone-based payments described above.
Forward-Looking Statements
This news release may contain forward-looking statements (within the meaning of applicable securities laws) which reflect the Company's current expectations regarding future events. Forward-looking statements are identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "estimate" and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts and projections and include, without limitation, statements regarding the implementation of the Agreement, expected milestone payments, renewal of the Agreement, and the anticipated commercial benefits of the partnership.
The forward-looking statements in this news release are based on certain assumptions. The forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from results discussed in the forward-looking statements, including but not limited to the achievement of milestones under the Agreement, general economic and market conditions, and other risks described in the Company's public filings. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
About Clip Money Inc.
Clip operates a multi-bank self-service deposit system for businesses through the Clip Money network that gives users the capability of making deposits outside of their bank branch at top retailers and shopping malls. Rather than having to go to their personal bank branch or using a cash pickup service, businesses can deposit their cash at any ClipDrop Box, ClipATM, or ClipCenter located near them. After being deposited, the funds will automatically be credited to the business' bank account, usually within one business day. The Company combines functional hardware, an intuitive mobile app and an innovative cloud-based transaction engine that maximizes business-banking transactions. Combined with mobile user applications, Clip offers a cost-effective and convenient solution for business banking deposits in metropolitan statistical areas across Canada and the United States. For more information about the Company, visit www.clipmoney.com-
For further information, please contact:
Joseph Arrage
Chief Executive Officer
tel: 844-593-2547
