Intrinsyc Receives Orders for Product Development Services Valued at US$623,000, plus Potential Per-Unit Royalty
Development to be based on Next-Generation Designs of the Company’s Open-Q™ Embedded Computing Modules
VANCOUVER, BC – August 1, 2017 –– Intrinsyc Technologies Corporation (TSX: ITC and OTC: ISYRF) (“Intrinsyc” or the “Company”), a leading provider of solutions for the development of embedded and Internet of Things (“IoT”) products, today announced the receipt of orders from last week, that are in aggregate valued at US$623,000. One order is from a medical device company that plans to use a next-generation design of the Company’s Open-Q™ embedded computing modules, currently in development; and the second order is for the development of a custom designed embedded computing module. The second order includes a provision for a per-unit royalty fee as the client ships their product. Product development services are expected to be completed in 2017.
“We are pleased with the continued momentum in winning new clients for our Open-Q™ embedded computing modules and product development services,” stated Mark Waldenberg, Vice President Global Sales, Intrinsyc Technologies Corporation. “Intrinsyc’s computing module solutions are distinguished by industry-leading processing power and efficiency, as well as our ability to provide turnkey product development services; including electrical, mechanical, and software design and development.”
This press release contains statements which, to the extent that they are not recitations of historical fact, may constitute forward-looking information under applicable Canadian securities legislation that involves risks and uncertainties. Such forward-looking statements or information may include statements regarding the Company’s future plans, objectives, delivery performance, revenues, or the company’s underlying assumptions. The words “may”, “would”, “could”, “will”, “likely”, “expect,” “anticipate,” “intend”, “plan”, “forecast”, “project”, “estimate” and “believe” or other similar words and phrases may identify forward-looking statements or information. Persons reading this press release are cautioned that such statements or information are only predictions and that the Company’s actual future results or performance may be materially different. Risk factors are described in the Company’s reports filed on SEDAR, including its Annual Information Form and financial report for the year ended December 31, 2016. All forward-looking statements made in this press release are qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by the Company will be realized. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
About Intrinsyc Technologies Corporation
Intrinsyc Technologies Corporation is a product development company that combines production-ready computing engines with unmatched product development expertise to enable rapid commercialization of embedded and Internet of Things (“IoT”) products. Intrinsyc has successfully delivered over 1,100 projects from mobile phones and tablets to IoT products like robotics, wearables, connected cameras, augmented reality glasses, and many more. Intrinsyc’s Open-Q™ System on Modules incorporate the industry’s most advanced processor technology available, and help OEMs to rapidly bring industry leading products, with rich functionality and high performance, to market. Intrinsyc is publicly traded (TSX: ITC and OTC: ISYRF) and is headquartered in Vancouver, BC, Canada, with additional product development centers in Boulder, CO, and Taipei, Taiwan.
For more information, please contact:
Senior Marketing Communications Coordinator
Intrinsyc Technologies Corporation