WASHINGTON, DISTRICT OF COLUMBIA--(Marketwire - Aug. 3, 2012) - Snipp Interactive Inc. ("Snipp") (TSX VENTURE:SPN), an international provider of mobile marketing solutions listed on the TSX Venture Exchange (the "Exchange"), announced today that Chairman and Founder, Atul Sabharwal, is succeeding Erik Hallstrom as CEO. Stepping down to pursue another opportunity, Hallstrom will continue with Snipp in an advisory role. Director and Founder Ritesh Bhavnani will take over as Chairman of the Board.
"To ensure a smooth transition and to continue the strong growth and expansion trajectory at Snipp, both the founders have decided to take on more formal operational roles at the company," said Atul Sabharwal. "Snipp is based on a compelling vision and we look forward to its continued growth in mobile marketing. We are excited that Erik will continue on with Snipp in an advisory capacity and thank him for his efforts to transition the company from a start-up to a smoothly functioning public entity. We have a terrific range of mobile solutions for offline above-the-line marketing, events, rebates, loyalty programs, coupons and more, undergirded by best-in-class technology and a strong team."
"Snipp is well positioned to play a key role in the dynamic mobile marketing industry on an international level, and across a range of industry verticals seeking to implement end-to-end mobile solutions. I look forward to continuing to engage with its talented management team." said Erik Hallstrom.
About Snipp Interactive Inc.
Snipp Interactive Inc. (www.snipp.com) provides print publishers, advertising agencies and corporate/consumer brands, including Fortune 500 companies, with a full suite of mobile marketing services across North America and generates revenue by designing, constructing, implementing and managing these mobile marketing services for its customers. Snipp is headquartered in Washington, D.C. with international operations in Canada, Mexico and India.
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect Snipp Interactive Inc.'s current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the closing of the Qualifying Transaction. Such statements and information reflect the current view of Snipp Interactive Inc. with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
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Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and Snipp Interactive Inc. undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
Snipp Interactive Inc. cautions that the foregoing list of material factors is not exhaustive. When relying on Snipp Interactive Inc.'s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Snipp Interactive Inc. has also assumed that material factors will not cause any forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
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