SOURCE: Intrinsyc Technologies Corporation

Intrinsyc Technologies Corporation

March 14, 2016 09:00 ET

Intrinsyc Expanding Operations with Engineering Centers in Boulder, Colorado and Taipei, Taiwan

Centers to Service the Growing Demand for the Company's Embedded and IoT products and Turnkey Product Realization Services

VANCOUVER, BC--(Marketwired - March 14, 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 announced today that in response to the Company's embedded and IoT computing products and turnkey product realization services, it is expanding operations with the recent opening of an engineering center in Boulder, Colorado, and with an additional office planned to open in Taipei, Taiwan in the second quarter of 2016. 

The Company has hired Ted Santos, as its Senior Director, Engineering, to lead the engineering center in Boulder, Colorado and plans to hire a manager for the Taipei operations in the second quarter. Mr. Santos previously was a sixteen year veteran of Qualcomm Incorporated ("Qualcomm"), most recently serving as Director, Engineering, with Pixtronix Inc., a Qualcomm company.

"Intrinsyc's performance-leading Open-Q™ computing modules are gaining increasing traction in a variety of embedded and IoT applications," said Victor Gonzalez, Vice President, Engineering, Intrinsyc Technologies. "With our expanded operations in Boulder and Taipei, we will be able to provide better collaboration with regional customers and technology partners, as well as attract new engineering talent to the Company. I'm excited to have Ted leading a team with extensive experience in the key technology powering our embedded computing solutions."

Intrinsyc is currently recruiting staff for both the Boulder and Taipei offices. Open positions are listed on the Company's website: https://www.intrinsyc.com/about-us/career/

Fiscal 2015 Fourth Quarter and Annual Financial Results

The Company will release its quarterly and annual financial results for the fiscal 2015 fourth quarter and year ending December 31, 2015, on Wednesday, March 23, 2016 at 4:00 p.m. Eastern Time (1:00 p.m. Pacific Time). The Company will hold a conference call to discuss the financial results at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) on the same day. On the call, Tracy Rees, President and Chief Executive Officer, and George Reznik, Chief Financial Officer, will discuss the financial results announced. This conference call may be accessed in North America, toll-free, by dialing 1-800-952-4972 or direct, and internationally by dialing 1-416-340-9432 approximately 10 minutes prior to the start of the call. This conference line is operator assisted and an access PIN is not required. The conference call will also be broadcast live over the Internet and available for replay on the Company's Investor Relations Conference Calls web page. Analysts and investors are invited to participate on the call. Questions may be submitted to invest@intrinsyc.com prior to the call.

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. Factors that could cause actual events or results to differ materially from those suggested by these forward-looking statements include, but are not limited to; the timing of entering into significant contracts; customers' continued commitment to the deployment of the Company's solutions; market acceptance of the Company's products and services; possible disruptive effects of organizational or personnel changes; dependence upon key personnel and hiring; industry growth; competition; and other 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. 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 Corporation is a product development company that provides comprehensive and tailored solutions that enable the development and production of next-generation embedded and IoT 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) (OTC: ISYRF) and is headquartered in Vancouver, BC, Canada.

Contact Information

  • For more information, please contact:
    George Reznik
    Chief Financial Officer
    Intrinsyc Technologies Corporation
    Email: greznik@intrinsyc.com
    Phone: +1-604-678-3734