Intrinsyc (TSX: ITC and OTC: ISYRF) Announces New Client for the Company’s Open-Q™ 820 Embedded Computing Module and Engineering Services Agreement
Orders received from Clients valued in excess of US$500,000
VANCOUVER, BC – February 5, 2018 –– 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 attainment of a new production client for the Company’s Open-Q™ 820 computing module and receipt of orders, last week that are in aggregate valued in excess of US$500,000. The new client placed an initial order for the Company’s Open-Q™ computing modules that is valued at approximately US$205,000. The Company also signed a product development services agreement with an existing client that is valued at approximately US$311,000. Hardware shipments and services are expected to be provided during the first and second quarters of 2018.
“We are making excellent progress in expanding our client base of companies utilizing Intrinsyc’s Open-Q™ family of embedded computing modules.” stated Mark Waldenberg, Vice President, Global Sales, Intrinsyc. “Open-Q™ embedded computing modules are known for their high-performance, power-efficiency, robust software support, and superior quality and reliability.”
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 1,000 projects from mobile phones and tablets to IoT products like robotics, wearables, connected cameras, augmented reality glasses, and much 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