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Lightspeed Introduces Initiatives Supporting Local Businesses

03/23/2020

Small and medium-sized businesses around the world impacted by COVID-19 will receive free resources from global POS leader

MONTREAL, March 23, 2020 /CNW Telbec/ - Lightspeed POS Inc. ("Lightspeed" or the "Company") (TSX: LSPD) today announced several new initiatives to support its local retail and restaurant customers who have been affected by the global COVID-19 pandemic. Effective immediately, and for the next 3 months, Lightspeed is now offering the following services for free to help customers adapt:

In addition, and to directly support our businesses, Lightspeed has also rolled out a #lightspeedlocal initiative that engages its company employees to shop locally and support small businesses in our network. The program reimburses employees in its 14 global offices up to $500 in local currency on purchases employees make from any Lightspeed retail or restaurant customer, whether through eCommerce shopping, meal takeout or delivery.

"Our employees and customers are at the heart of everything we do, and during this time of social distancing and uncertainty, it is more important than ever that we support them in a tangible way," said Dax Dasilva, Founder and CEO of Lightspeed. "I'm inspired by the spirit and innovation from some of our customers leveraging omni and creative home delivery options to make the best of an incredibly difficult time. Helping others do the same is at the heart of these incentives that we are putting in place."

To further help SMBs protect their businesses, Lightspeed launched an online COVID-19 Retail and Restaurant Resource Guide. The guide includes tips for operational tasks, as well as tools for new revenue streams to help businesses navigate changes in consumer behaviour. Our efforts aim to help small and medium-sized businesses remain agile in the current socio-economic climate and provide them with resources to safeguard a prosperous future.

On the heels of its recent bought deal offering, which closed February 27, 2020, Lightspeed remains well capitalized to support its highly diversified retail and restaurant customer base through this difficult time. 

About Lightspeed
Lightspeed (TSX: LSPD) is a cloud-based commerce platform powering small and medium-sized businesses in over 100 countries around the world. With smart, scalable, and dependable point of sale systems, it's an all-in-one solution that helps restaurants and retailers sell across channels, manage operations, engage with consumers, accept payments, and grow their business.

Headquartered in Montréal, Canada, Lightspeed is trusted by favorite local businesses, where the community goes to shop and dine. Lightspeed has offices in Canada, the USA, Europe, and Australia.

For more information, please visit: www.lightspeedhq.com

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Forward-Looking Statements

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward looking information may relate to anticipated events or results and may include information regarding our financial position, business strategy, growth strategies, addressable markets, budgets, operations, financial results, taxes, dividend policy, plans and objectives. Particularly, information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information.

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Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that we considered appropriate and reasonable as of the date such statements are made, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward‐looking information, including but not limited to the risk factors identified in our most recent Management's Discussion and Analysis of Financial Condition and Results of Operations and under "Risk Factors" in our most recent Annual Information Form, both of which are available under our profile on SEDAR at www.sedar.com, and risks and uncertainties associated with the COVID-19 pandemic. If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information.

Although we have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this news release represents our expectations as of the date of hereof (or as of the date they are otherwise stated to be made), and are subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws. All of the forward-looking information contained in this news release is expressly qualified by the foregoing cautionary statements.

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SOURCE Lightspeed POS Inc.

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