Intrinsyc (TSX: ITC and OTCQX: ISYRF) Announces New Orders for the Company’s Open-Q™ Edge Computing Modules and Product Development Services
New Orders received from Clients valued at US$920,034 Including Initial order from a new production client valued in excess of $500,000
VANCOUVER, British Columbia, June 25, 2019 (GLOBE NEWSWIRE) -- Intrinsyc Technologies Corporation (TSX: ITC and OTCQX: 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, over the past week, that are in aggregate valued at US$920,034.
Orders for the Company’s Open-Q™ embedded computing modules are valued at US$659,434 and include an initial stocking order for a new production client building robotic devices valued in excess of US$500,000. The Company also received orders from existing and new clients for product development services and support valued in aggregate at US$260,600. Products and services ordered are expected to be delivered over the next two quarters.
“We are pleased to see our client making a successful product launch in the fast-growing robotics market,” stated Cliff Morton, Vice President, Client Solutions, Intrinsyc. “Intrinsyc’s edge computing modules are ideal platforms for creating robots and other sophisticated products using computer vision and artificial intelligence.”
Forward-Looking Statements
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 involve risks and uncertainties. Such forward-looking statements or information may include statements regarding the Company’s 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, 2018. 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 provides comprehensive product development services, as well as the industry’s highest-performance edge computing modules, to enable rapid commercialization of intelligent Internet of Things (“IoT”) products. Intrinsyc has successfully delivered over 1,400 client projects including sophisticated consumer and industrial IoT products like: robotics, connected cameras, smart displays, augmented reality, smart buildings, wearables, in-vehicle infotainment, and many others. Intrinsyc’s Open-Q™ System on Modules incorporate the industry’s most advanced processor technology from Qualcomm Technologies Inc., and help OEMs to rapidly bring industry leading products, with rich functionality and high performance, to market. Intrinsyc is publicly traded (TSX: ITC and OTCQX: ISYRF) and is headquartered in Vancouver, BC, Canada; with additional product development centers in Taipei, Taiwan, and Bangalore, India.
For more information, please contact:
Rachele Webb
Marketing Manager
Intrinsyc Technologies Corporation
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