VANCOUVER, BC--(Marketwired - December 20, 2016) - Intrinsyc Technologies Corporation (TSX: ITC) (OTC: ISYRF) ("Intrinsyc" or the "Company"), a leading provider of solutions for the development and production of embedded and Internet of Things ("IoT") products, today announced the Company received this week, orders from two new clients for Intrinsyc's Open-Q™ 410 System on Modules ("SOM") valued at US$76,800, and also signed a product development services agreement with a new client valued at US$327,525, and an extension of a services agreement with an existing client valued at US$374,035.
The new products introduced by our clients are in the wearable computing and connected camera segments of the IoT market. The orders are expected to begin shipping in the next thirty days. The product development services agreements covers a range of product management and software development services to be performed over the next year.
"We are pleased to have two new production clients launching commercial products with Intrinsyc's Open-Q™ 410 SOM, as well as the signing of a new product development agreement and extension of a current agreement," stated Mark Waldenberg, Vice President, Global Sales, Intrinsyc Technologies Corporation. "The Open-Q™ 410 SOM is a cost-effective, powerful computing platform, with guaranteed long-term availability; and enables IoT products to be rapidly developed and launched to market."
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 Internet of Things ("IoT") products. 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) (OTC: ISYRF) and is headquartered in Vancouver, BC, Canada.
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.
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