VANCOUVER, BC--(Marketwired - November 03, 2016) - Intrinsyc Technologies Corporation (TSX: ITC) (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 a follow-on order from an existing client valued at $572,500. Combined with two previous orders received over the last 60 days, the aggregate value exceeds $1.2 million.
The client creates high resolution imaging and analytic products for commercial customers. Delivery of the Open-Q™ embedded computing modules is expected to occur over the current quarter, ending December 31, 2016, and first quarter, ending March 31, 2017. Additional follow-on orders from this client are anticipated in 2017.
"Intrinsyc's Open-Q™ embedded computing modules deliver outstanding performance and power/thermal efficiency, and are ideal for advanced multimedia and imaging products," stated Cliff Morton, Vice President, Solutions Engineering, Intrinsyc Technologies Corporation. "We are happy to see our client achieve commercial traction with their products and to be able to share in that success."
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 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, 2015. 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 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) (OTC: ISYRF) and is headquartered in Vancouver, BC, Canada, with additional product development centers in Boulder, CO, and Taipei, Taiwan.