Snipp Announces Closing of Third Tranche of Private Placement Bringing the Total Amount Closed to $6.7MM

WASHINGTON, DISTRICT OF COLUMBIA--(Marketwired - April 28, 2016) - Snipp Interactive Inc. ("Snipp" or the "Company") (TSX VENTURE:SPN)(OTCQX:SNIPF), an international provider of marketing promotions, rebates and loyalty solutions listed on the OTCQX and the TSX Venture Exchange, is pleased to announce that, further to its press releases dated April 21, 2016, and April 25, 2016, it has completed the third tranche (the "Third Tranche") of a non-brokered private placement (the "Financing"). The Third Tranche is comprised of 1,453,334 common shares (the "Shares") at a price of CAD $0.30 per Share for additional gross proceeds of CAD $436,000. Together with the proceeds raised under the first and second tranches, Snipp has now raised $6,697,000 pursuant to the Financing.

The net proceeds raised through the Financing will be used for product development, sales & marketing and general working capital purposes. The Financing will strengthen the Company's balance sheet and is expected to better position it to develop deeper relationships with clients and brands looking for long-term partners for loyalty, promotions and rebate solutions. It will also enable Snipp to fund the development of its next-generation analytical solutions based on the unique receipt-based purchase data that it has been accumulating over the years.

Snipp has received final approval from the TSX Venture Exchange for the closing of the Third Tranche. Closing of any additional tranches may be subject to receipt of regulatory approvals, including acceptance by the TSX Venture Exchange.

The four-month hold period for all Shares issued under the Third Tranche will expire on August 29, 2016 in accordance with Canadian securities laws. No commissions or finder's fees were paid in connection with the Third Tranche.

About Snipp:

Snipp's incentive marketing technology platform enables brands and retailers to drive customer engagement and purchase. Our solutions include loyalty, rebates, promotions, rewards and data analytics. SnippCheck, Snipp's unique receipt processing engine is now the market leader for receipt-based purchase validation, having powered several hundred programs for leading Fortune 500 brands and world-class agencies and partners. 99% of all households in the United States have been exposed to our programs.