Intrinsyc Technologies Corporation
TSX : ITC

Intrinsyc Technologies Corporation

August 06, 2015 07:30 ET

Intrinsyc Announces Organization Changes to Support and Accelerate Growth

Company Investing in Personnel, Programs, Equipment and Facilities

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 6, 2015) - Intrinsyc Technologies Corporation (TSX:ITC) ("Intrinsyc" or the "Company"), a leading provider of solutions for the development of intelligent connected devices, today announced the Company is expanding the Company's executive leadership team and is increasing investment in several areas over the next few quarters to support and accelerate growth, including: hiring engineering personnel for delivery of clients' projects as well as new product development, sales and marketing personnel and programs, facilities expansion, and engineering equipment, to support expected growth.

"As one of the first steps in our accelerated growth plan, the leadership team has been expanded with the addition of three key management positions," stated Tracy Rees, President and CEO, Intrinsyc Technologies Corporation.

Mark Waldenberg is the new Vice President of Global Sales. Mark has been with Intrinsyc since 2009 and has been a key contributor responsible for many of the Company's highest revenue producing projects. Mark has a lengthy track record of sales and business development success at other product development services and software companies such as Airbiquity, CalAmp and Bsquare.

Cliff Morton is the new Vice President, Client Solutions. Cliff has been with Intrinsyc since 2000 and manages the Company's Solution Architect team, which supports the Company's sales team and collaborates with clients on project and product planning. In addition to these responsibilities, Cliff leads the Company's Product Development Council, responsible for guiding product development initiatives. Prior to Intrinsyc, Cliff held various technical and customer support roles with MacDonald Dettwiler and RCA.

Victor Gonzalez is the new Vice President, Engineering. Victor has been an Intrinsyc employee since 2005, with positions as a Principal Engineer and most recently as Senior Director of Engineering Services. Prior to Intrinsyc, Victor held engineering positions at wireless technology companies such as Sierra Wireless and Glenayre.

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 financial and other projections as well as statements regarding the Company's future plans, objectives, performance, revenues, growth, profits, operating expenses 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 described in the Company's reports filed on SEDAR, including its Annual Information Form and financial report for the year ended December 31, 2014 should be considered when evaluating forward looking statements. This list is not exhaustive of the factors that may affect the Company's forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. 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 is a product development company that provides comprehensive and tailored solutions that enable the development and production of next-generation intelligent connected devices. Solutions span the development life cycle from concept to production and help device makers and technology suppliers create compelling differentiated products with faster time-to-market. Intrinsyc is publicly traded (TSX:ITC) and is headquartered in Vancouver, BC, Canada.

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