| By Marketwire . |
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| July 17, 2008 04:00 PM EDT |
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TORONTO, ONTARIO -- (MARKET WIRE) -- 07/17/08 -- The Futura Loyalty Group Inc. (TSX VENTURE: FUT) (the "Company") today announced it has entered into a joint venture with the Canadian Federation of Students-Services (the "Federation"), the leading organization in Canada representing the needs and rights of university and college students, to manage day to day operational matters and provide technical and web services to the Federation's existing Studentsaver Program, made available nationally to over 500,000 university and college students annually.
Currently operated as a discount card program, the Studentsaver Program is honoured at over 3,000 merchant locations in Canada that offer discounts to program users ranging from 10 to 20%. One of the Company's key roles in the joint venture will be the migration of the Studentsaver Program and all of its participating merchant sites onto the Futura technology platform thereby offering cardholders more tangible and flexible in-store offers such as earning cash rewards. Participating merchants will also benefit from a better understanding of customer behaviour, program usage and sales results at their place of business. The Company will also provide an on-line mall feature to the Studentsaver Program, allowing members to earn rewards while shopping on-line with an array of over 100 leading retailers.
"We are looking forward to working with the Canadian Federation of Students-Services in improving the overall value proposition of the Studentsaver Program to both students and participating merchants. By combining our technical and operational core competencies with a large and well entrenched base of cardholders and merchants, we believe that the Studentsaver Program will become the leading loyalty program servicing the university/college population," said Mark Farrell, President and CEO of Futura.
"The Studentsaver Program has been delivering savings to students from coast to coast for over 25 years in its current form. In this day and age of advancing technologies, we need to take the program to the next level in terms of providing our membership base with a greater array of offers, and particularly the ability to tailor offers to the specific and ever changing needs of our members on an ongoing basis. Futura's operating platform and strengths in this area made them a perfect partner to work with. We look forward to offering greater value to students and merchant partners in the years to come as a result of this joint venture partnership," said Dave Molenhuis, Chief Financial Officer of the Canadian Federation of Students-Services.
The Company also announced that, subject to regulatory approval, it will extend to November 15, 2008 the expiry date of 29,908,611 common share purchase warrants (the "Warrants"), 15,047,186 of which are scheduled to expire on July 31, 2008 and 14,861,425 of which are scheduled to expire on August 16, 2008. Each Warrant allows the holder to purchase one additional common share of the Company at a price of $0.20 per share.
About The Futura Loyalty Group Inc.
The Toronto-based Futura Loyalty Group Inc. operates the Futura Rewards Program which allows consumers to earn free cash rewards by purchasing a wide variety of consumer products and services from a broad array of retailers, service companies and brands. Members can use their cash-equivalent rewards for any purpose of their choosing such as personal savings, retirement and education savings, donating to a charitable group or everyday spending. Futura's suite of services include marketing tools and expertise to assist groups, merchants, and affinity partners. Our strategy and project services include: co-branded loyalty programs, consumer intelligence and analytics, design services and marketing program execution. For more information, visit www.FuturaRewards.ca.
About The Canadian Federation of Students-Services
The Canadian Federation of Students-Services represents over 500,000 college and university students. The Federation was founded in 1981 and is focused on providing cost saving services to its members and member student unions. For more information, visit www.cfs-fcee.ca.
(TM)Trademark of The Futura Loyalty Group Inc.
The TSX-Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
The Futura Loyalty Group Inc.
Mark Farrell
President and CEO
(416) 775-3160
Email: mfarrell@FuturaRewards.ca
Website: www.FuturaRewards.ca
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