DENVER, COLORADO--(Marketwired - Jan. 11, 2017) - TrackX Holdings Inc. (TSX VENTURE:TKX) ("TrackX" or the "Company"), a global leader in providing cloud-based, asset tracking solutions for supply chain and logistics-intensive businesses, is pleased to announce that it has appointed Sophic Capital Inc. (Sophic Capital) as its Investor Relations (IR) firm. Sophic Capital is a comprehensive capital markets advisory firm that will focus on increasing investor awareness of TrackX by developing a comprehensive communications strategy and introducing TrackX to investment advisors, investment dealers, institutions and other financial professionals.
"Adoption of TrackX's cloud-based, enterprise-based asset tracking solution is accelerating as customers and prospects seek to unlock their assets' hidden value," said Tim Harvie, President and CEO of TrackX. "After conducting our own comparative analysis, TrackX has selected Sophic Capital to help communicate our market opportunity and growth strategy to institutional and retail investors."
"We are excited that TrackX has chosen Sophic Capital to execute its capital markets and investor relations strategies," said Sean Peasgood, CEO of Sophic Capital. "After completing our own due diligence process, we believe that TrackX's growth prospects could be sizeable. Management has substantial industry experience, and several blue-chip, name brand customers have implemented the Company's platform. We look forward to communicating TrackX's successes to the investment community."
TrackX's engagement with Sophic Capital is for a 12-month term, on a fee for services basis of $7,000 per month. In addition, Sophic has been granted options to purchase up to 200,000 shares of TrackX at a price of $0.36 per share. The options will vest quarterly in four tranches of 50,000 each starting January 11, 2017 and will expire on the earlier of (i) 90 days after termination of the engagement and (ii) January 11, 2020. The options are governed by the provisions of the Company's stock option plan and the policies of the TSX Venture Exchange.
TrackX is a global leader in providing cloud-based, asset tracking solutions for supply chain and logistics-intensive businesses. Headquartered in Denver, Colorado, TrackX's patented platform combines support for multiple auto-ID technologies, workflow, event management, alert notifications, and analytics, to deliver significant value its customers. TrackX solutions include high-value asset tracking, yard management, returnable asset management, and mobile inventory management solutions. TrackX delivers value to Fortune 500 customers in a variety of industries, including transportation, beverage, brewery, healthcare, hi-tech, hospitality, mining, agriculture, horticulture, manufacturing, and government.
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur including the Company's anticipated pipeline and value of current and customer deployments and future opportunities are the managements best estimates and cannot be guaranteed or relied upon and is forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements in this news release, whether as a result of new information, future events or otherwise, except as required by law.