- In conjunction with recent OTCQX trading commencement and obtaining DTC eligibility -
TORONTO, ON / ACCESSWIRE / September 20, 2021 / Adcore Inc. (the "Company" or "Adcore") (TSX:ADCO)(OTCQX:ADCOF)(FSE:ADQ)(TSX:ADCO.WT), a leading e-commerce advertising management and automation platform to leverage digital marketing in an effortless and accessible way ("Effortless Marketing"), announces that it has established Adcore US Inc., a wholly-owned U.S. Delaware subsidiary as part of its strategic plan to expand its operations to address the increasing demand for digital marketing solutions in the U.S. market.
Since becoming a public company, Adcore has rapidly expanded its global operations and broadened its reach by providing its digital marketing technologies and services to local customers in key geographical locations, with offices in Toronto, Canada; Tel Aviv, Israel; Melbourne, Australia; and Hong Kong and Shanghai, China. In conjunction with its global expansion strategy, the Company made the strategic decision to focus more on the U.S. market, which is projected to reach $304 billion in digital ad spend by 2025*. The establishment of this new subsidiary will set the foundation for a much larger activity in this important market.
"The U.S. represents a tremendous opportunity for our digital marketing solutions," commented Adcore's Chief Executive Officer, Omri Brill. "In conjunction with our recent trading commencement on the OTCQX and obtaining DTC eligibility, we have established this subsidiary as a fundamental step towards increasing our market penetration in the U.S. Our international expansion has been an important component of our rapid growth to date. We are targeting increased activity in the U.S. as early as the fourth quarter of this year and expect the market to develop into a key growth driver for us in 2022 and beyond."
*Source: eMarketer, March 2021
ABOUT ADCORE
Adcore is empowering entrepreneurs, advertisers, and the future of e-commerce through its advertising management and automation platform. By combining extensive industry knowledge and experience with its proprietary artificial intelligence engine, Adcore offers a unique digital marketing solution that empowers entrepreneurs and advertisers by managing and automating their e-commerce store advertising and monitoring and analyzing the performance of their advertising budget to ensure maximum Return on Investment. In addition to being named numerous times on Deloitte's Fast 50 Technology list, Adcore is a certified Google Premier Partner, Microsoft Partner, Facebook Partner and TikTok Partner.
Established in 2006, the Company employs over fifty people in its headquarters in Tel Aviv, Israel and satellite offices in Toronto, Canada, Melbourne, Australia, Hong Kong and Shanghai, China.
For more information about Adcore, please visit https://www.adcore.com/investors/.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements, including statements about the Company. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
For further information please contact:
ADCORE INC.
https://www.adcore.com/investors/
| Martijn van den Bemd, GM North America | U.S. Investor Relations John Nesbett/Jennifer Belodeau IMS Investor Relations |
| Telephone: 647-497-5337 | Telephone: 203-972-9200 |
| Email: martijn@adcore.com | Email:jnesbett@imsinvestorrelations.com |
SOURCE: Adcore Inc.
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