whytestocks
4 years ago
News: $INOTF Aerospace Engineering Firm, Who Works With NASA, Conducts Rigorous Testing on ThermalPass Fever Detection System
Aerospace Engineering Firm, Who Works With NASA, Conducts Rigorous Testing on ThermalPass Fever Detection System Canada NewsWire TORONTO, Aug. 6, 2020 Accepting Conditional Purchase Orders in Advance of Commercial Rollout TORONTO , Aug. 6, 2020 /CNW/ - Internet of Thi...
Got this from INOTF - Aerospace Engineering Firm, Who Works With NASA, Conducts Rigorous Testing on ThermalPass Fever Detection System
IoT II
4 years ago
IBI Group and Weather Telematics Collaborate to Develop Winter Ice and Snow Decision Support System for Operations Management (WISDOM) Platform
TORONTO, May 28, 2020 (GLOBE NEWSWIRE) -- Global design and technology firm, IBI Group (TSX: IBG), and Weather Telematics Inc. (“Weather Telematics”), a subsidiary of Internet of Things Inc. (TSX VENTURE: ITT) (OTC: INOTF) (FRANKFURT: 71T), a software and solutions provider in the artificial intelligence and industrial IoT markets, are collaborating to develop the Winter Ice and Snow Decision Support System for Operations Management (“WISDOM”) platform – a resource management and decision support tool to assist in the effective and timely response to winter road conditions. The companies have partnered with two Ontario counties to pilot the platform in the winter of 2020/21. The collaboration has been brought together by Ontario Centres of Excellence (“OCE”).??
Winter road maintenance accounts for a large portion of Canadian cities’ operating expenses. In 2018 alone, governments across North America spent upwards of $2 billion on winter operations. With rapid population growth and more frequent extreme weather events, costs of snow clearing are projected to increase further each year, prompting governments to analyze means to improve winter maintenance efficiency.
“We are extremely excited to be collaborating with IBI Group on the WISDOM platform,” said Michael Lende, President and CEO of the Internet of Things Inc. “Surprisingly, most governments rely on basic solutions to manage their winter maintenance and cleaning processes. WISDOM has the potential of dramatically improving the ability to manage government resources, significantly lower costs and improve driver safety.”
“This project is exactly the type of partnership we are seeking to foster through our Autonomous Vehicle Innovation Network (AVIN) WinterTech Development Program,” said Vic Fedeli, Ontario Minister of Economic Development, Job Creation and Trade. “Ontario is home to some of the brightest and most innovative people and businesses in the world and AVIN helps weave these talents together to propel pioneering technologies that will make our roads safer and our economy stronger.”
“IBI Group is an industry leader in developing and managing smart city solutions. We are excited to be partnering with Weather Telematics — a global leader in weather risk — to develop the WISDOM platform. We believe the platform holds great promise in its ability to help governments better manage their winter snow/ice road clearing operations, and to lower their use of salt products without negatively impacting vehicle and pedestrian safety,” said Derek Sims, IBI Group’s Global Director of Intelligence.
The WISDOM platform consists of three interactive components:
Real-time traffic and AI-predicted road conditions. Traffic information is used to route snowplows to designated areas efficiently, while predicted road conditions allow for more informed resource deployment in response to upcoming weather events.
Automation of the selection of procedures and dynamic routing of appropriate vehicles to assist dispatchers.
Deployment of sensors on select vehicles to obtain ground-truth road condition data that feeds into the previous two components, bettering prediction accuracy and adjusting responses based on corrected outputs.
Together, these components create a feedback loop that achieves precise dispatching of winter operation units and reduces excessive use of salt and de-icing materials. Moreover, efficient ice and snow removal will support Vision Zero and mitigate traffic congestions through improved response time, providing a higher level of service to residents across the pilot area.
Media Contacts:
Weather Telematics / Internet of Things Inc.?Dwain Schenck?Schenck Strategies?Mobile: 203-223-5230?Email: dwain@schenckstrategies.com
IBI Group?Julia Harper?julia.harper@ibigroup.com?1-416-596-1930 ext. 61187?or 1-647-330-4706
About Weather Telematics Inc. ?Weather Telematics Inc. is a data science-based company who, through its distinctive patented artificial intelligence and sensor technology, provides government, insurance, agriculture, public safety, fleet management and outdoor sporting event industries with up to 72-hours advance predictive hyperlocal weather data. Weather Telematics uses a proprietary vehicle-mounted mobile IoT sensor network and AI deep machine learning to generate historical, real-time and predictive road weather conditions for road hazard risk alerts and dynamic routing applications. Their industry leading Predictiv RC and Predictiv SA platforms mitigate weather risk, reduce traffic congestion and make connected and autonomous navigation safer in all types of road conditions
About Internet of Things Inc. (TSX VENTURE: ITT) (OTC: INOTF) (FRANKFURT: 71T): ?Internet of Things Inc. is a technology company which helps businesses and organizations make smarter decisions using advanced artificial intelligence, deep machine learning and data science techniques. Its Weather Telematics Inc. subsidiary uses patented air quality monitoring sensors to provide predictive weather risk information to the insurance, logistics, fleet management and public safety sectors. The Company’s R&D division, AI Labs Inc., develops new products that solve real-world business problems. The joint venture with Commersive Solutions Corp. is developing innovative technologies for use in various public spaces, starting with the ThermalPass™ fever detection system.
For more information on Internet of Things Inc. visit: www.iotintl.com and follow ITT on:
Facebook: https://www.facebook.com/InternetofThingsInc/?Twitter: https://twitter.com/iotintl?lang=en?LinkedIn: https://www.linkedin.com/company/internet-of-things-inc-/
Company Contact:?Michael Lende, President & CEO?Mobile: 416-884-5911?Email: mlende@iotintl.com
About IBI Group:?IBI Group Inc. (TSX:IBG) is a global architecture, engineering, planning, and technology firm with over 60 offices and 2,700 professionals around the world. For more than 40 years, its dedicated professionals have helped clients create livable, sustainable, and advanced urban environments. As a technology-driven design firm, IBI Group believes that cities thrive when designed with intelligent systems, sustainable buildings, efficient infrastructure, and a human touch. Follow IBI Group on Twitter @ibigroup and Instagram @ibi_group.
About Ontario Centres of Excellence (OCE) Inc.:?OCE maximizes the commercial impact of research developed in Ontario’s colleges, universities, and research hospitals, and accelerates the commercialization of emerging technologies. A pan-provincial collaboration platform, with a broad and deep network across industry, academia, and government, OCE initiates unparalleled partnership opportunities, develops and manages successful industry-academic collaborations, supports high potential SMEs in commercializing ground-breaking research and provides hands-on training and skills development opportunities for the next generation of highly-skilled talent.
Cautionary and Forward-Looking Statements?Statements contained in this news release, which are not historical facts, are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements included in this news release are based on information available to the companies on the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results of the companies to differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to factors referenced in the companies’ other continuous disclosure filings, which are available at sedar.com. Readers should not place undue reliance on these forward-looking statements. The companies assume no obligation to update any forward-looking statements, except as required by applicable securities laws.
____________________________________________________________________________?NEITHER THE TORONTO STOCK EXCHANGE NOR THE TSX VENTURE EXCHANGE NOR THEIR REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TORONTO STOCK EXCHANGE OR THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
Weather Telematics Logo
IoT-
5 years ago
INTERNET OF THINGS INC. CLOSES ACQUISITION OF WEATHER TELEMATICS INC.
Source: InvestorsHub NewsWire
Toronto & Ottawa, Canada -- June 04, 2018 -- InvestorsHub Newswire -- Internet of Things Inc. (TSX VENTURE: ITT OTC: INOTF; FRANKFURT: 71T) (“IoT Inc.” or the “Company”) a strategic investor and operator of emerging technology companies with innovative IoT, AI and Blockchain solutions, has completed the previously announced acquisition of Weather Telematics Inc. (“WTX Inc.” or “Weather Telematics”). WTX Inc. is a data science company offering real-time advanced artificial intelligence (AI) based predictive road condition weather analytics for safer, connected and autonomous transportation. The acquisition combines a world-leader in Weather Telematics providing real-time road condition predictive weather analytics with a strong business partner in IoT Inc. to accelerate sales and to expand the potential vertical applications for WTX Inc.’s AI platform.
Iot Inc. has acquired 100% of the issued and outstanding shares of WTX Inc. for $2.53 million on the following terms: (i) $230,000 in cash payable at closing; (ii) $300,000 in cash payable on the 6-month anniversary post closing; and (iii) 20,833,332 IoT Inc. treasury shares priced at $0.0963, with 50% or 10,416,666 shares to be released over three years in three equal tranches of 3,472,222 shares on the 12th month, 24th month and 36th month anniversaries post closing. The 50% balance or 10,416,666 shares to be released on WTX Inc. achieving $8.2 million minimum net sales target over 36 months with pro rata releases every six months (the “Transaction”).
“We are thrilled to be a part of Internet of Things and to leverage the expertise and relationships that IoT Inc. and its portfolio companies have established.” said Robert Moran, CEO of Weather Telematics. “With the power of AI-based technologies, we can convert extremely complex datasets into useful actionable intelligence”
“Weather Telematics is at the forefront of AI-based and machine learning technologies for predictive road and weather analysis feeding into the growing autonomous vehicle sector”, said Michael Frank, CEO of IoT Inc. “We have already seen the benefits of their technology in applications related to transportation, insurance and logistics. WTX’s recent deal with Teletrac Navman provides integration benefits for market acceptance and ease of adoption. Together we’ve identified the next level of verticals to target, which includes, insurance companies, ride sharing programs for companies like Uber and Lyft and direct solutions for drivers. This acquisition will add long-term diversification and value to our investment portfolio and we welcome Weather Telematics’ team to become part of the IoT’s family.”
“With this transformative acquisition, we are positioned to build Internet of Things Inc. into a real-time road and environment data collection company. This technology is vital for autonomous driving platforms like Tesla and others. Additionally, our strategy with Weather Telematics will be to build out a new mobile app and then to rollout the full-suite of WTX technologies to the marketplace”, said James Sutcliffe, President & COO of IoT Inc.
About Weather Telematics Inc.
Founded in 2010, Weather Telematics Inc. is a Canadian-based, IoT data science company offering road safety data products for industrial, government and consumer markets. Weather Telematics uses a proprietary vehicle-mounted mobile IoT sensor network and AI machine learning system to generate real-time and predictive road weather conditions, road hazard risk alert notifications and dynamic routing applications. The Weather Telematics platform mitigates weather risk, reduces traffic congestion and makes connected and autonomous navigation safer in all types of road conditions.
To learn more, visit: www.weathertelematics.com
Follow Weather Telematics on: Twitter: https://twitter.com/weathertx
About Internet of Things Inc.
Internet of Things Inc. is a strategic investor and operator of high growth companies with innovative technology solutions. The Company creates value through our portfolio companies’ expertise in the IoT, AI and Blockchain solutions, by turning data into actionable intelligence to drive more efficiency into organizations.
The Company owns Weather Telematics Inc., and has a joint venture partnership, New Hope IoT Intl Inc., with New Hope Data Technology Co. Ltd. Internet of Things Inc. also has strategic investments in Braingrid Corp. and Blockstrain Technology Corp. and has its headquarters in Toronto, Canada.
Follow Internet of Things Inc. on:
Facebook: https://www.facebook.com/InternetofThingsInc/
Twitter: https://twitter.com/iotintl
LinkedIn: https://www.linkedin.com/company/internet-of-things-inc-
For further information, contact:
Internet of Things Inc.
Kim Nguyen, Director of Corporate Communications
Tel: (416) 792-9088
Email: knguyen@iotintl.com
To learn more, visit: www.iotintl.com
Cautionary and Forward-Looking Statements
Statements contained in this news release, which are not historical facts, are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results of the Company to differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to factors referenced in the Company’s other continuous disclosure filings, which are available at sedar.com. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws. _____________________________________________________________________________________________
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION 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
IoT-
5 years ago
INTERNET OF THINGS INC. PROVIDES CORPORATE UPDATE
Source: InvestorsHub NewsWire
Toronto, Canada -- May 25, 2018 -- InvestorsHub NewsWire -- Internet of Things Inc. (TSX VENTURE: ITT; OTC: INOTF; FRANKFURT: 71T) (“IoT Inc.” or the “Company”) a strategic investor in growth-ready companies with innovative IoT, AI and Blockchain solutions, is pleased to provide a corporate update detailing its recently accomplished milestones and current growth initiatives.
Appointment of President & COO
IoT Inc. recently announced the appointment of James Sutcliffe as President & COO. Mr. Sutcliffe will oversee operations, investee companies and merger & acquisition opportunities.
Mr. Sutcliffe brings more than 20 years’ experience in global operational and financial leadership. Earlier in his career, he was as a key member of a management team that grew a Fortune 150 Tier 1 automotive supplier’s Asian operations ten-fold. During this time, Mr. Sutcliffe held senior corporate development, finance and executive management roles. Spearheading entry into new markets in Asia, he was instrumental in guiding start-ups and acquisitions in China, India and Korea.
Mr. Sutcliffe commented, “IoT Inc. is at a critical inflection point given its growth opportunities in Asia and North America. I am excited to leverage my relationships and operating experience as the company pursues very compelling and complementary accretive acquisitions.”
Corporate Repositioning
The Company has developed a new website designed to encourage investor signups and inbound business opportunities and enhanced marketing collateral including a new corporate presentation. In addition, IoT Inc. has signed up to participate in investor focused conferences over the next few months to raise awareness. This corporate repositioning reflects the new strategic vision of the Company and will serve as the foundation to expand its strategic plan to acquire and operate growth-ready technology companies.
Equity Financing
After the original public announcement of a private placement financing in December 2017, the Company closed an over-subscribed funding round of $2,300,000. This working capital provides a sufficient runway to continue execution of its long-term corporate growth strategy and to pursue strategic acquisitions.
Portfolio Company Updates
Weather Telematics Inc.
The Company announced that it has entered into a letter of agreement to acquire Weather Telematics Inc. (“WTX Inc.” or “Weather Telematics”), a data science company offering real-time advanced AI-based predictive road condition weather analytics for safer, connected and autonomous transportation. For further details read the May 14, 2018 press release.
Weather Telematics recently announced a partnership with Teletrac Navman, a global software-as-a-service provider that leverages location-based technology for GPS tracking solutions, to provide dynamic weather data including a real-time view of hazardous road conditions to the DIRECTOR® fleet management platform.
New Hope IoT Intl. Inc. (or the “JV”)
Management is pleased with the progress that continues to be made with factory automation initiatives as IoT Inc. expands its presence in Greater China. The JV continues to make headway with artificial intelligence in China and pending the closing of WTX Inc., the Company will look to leverage their unique data and technology by integrating it into its manufacturing process optimization platform to turn traditional manufacturing operations into smart industrial IoT enabled facilities.
Blockstrain Technology Corp. (“Blockstrain”)
The Company made a strategic investment in Blockstrain Technology Corp. (TSX-V:DNAX). Blockstrain delivers a secure and immutable blockchain platform to establish global certainty for cannabis strains and their ownership.
Blockstrain closed a non-brokered private placement raising gross proceeds of $10,500,000, and also completed its go public transaction earlier this week. Based on yesterday’s closing price of Blockstrain, IoT Inc’s position in the company is worth more than 250% of its original investment.
The Company is in discussions with Blockstrain and is evaluating how to deploy and leverage its strategic technology applications into the Blockstrain ecosystem.
Braingrid Corp. (“Braingrid”)
In December 2015, IoT Inc. acquired an 8.33% minority equity position in Braingrid for $500,000.
Braingrid recently closed a $2,500,000 equity financing and continues to work on its public listing on the Canadian Securities Exchange. Braingrid intends to use the net proceeds from the offering for general corporate purposes, such as continuing expansion of its R&D department as well as furthering the execution of its long-term roadmap.
Management expects that Braingrid’s go-public transaction will be accretive to IoT Inc.
New Opportunities
IoT Inc. looks to capitalize on new opportunities when they fit the Company’s core investment criteria. There are occasionally new legislation and regulatory guidelines that open new markets, particularly the recent Supreme Court of the United States ruling that struck down the Professional and Amateur Sports Protection Act of 1992 (PASPA), an act that largely outlawed sports betting outside of Nevada. This change in legislation effectively clears a path for the legalization of sports betting in the United States.
Research firm Eilers & Krejcik Gaming estimates a regulated United States sports betting market could generate $6.03 billion in annual revenue by 2023. Additionally, the Canadian Gaming Association estimates that Canadians are wagering approximately $10 billion annually through illegal bookmaking operations in Canada, and more than $4 billion through offshore online sports gambling websites, meaning that many people are betting through illegal and nefarious channels.
As a result of these regulatory changes, IoT Inc. sees an opportunity to develop, commercialize and monetize an AI-based platform leveraging the Company’s innovative technologies within the sports wagering marketplace.
About Internet of Things Inc.
Internet of Things Inc. is a strategic investor in growth-ready companies with innovative technology solutions. The Company creates value through its portfolio companies’ expertise in the IoT, AI and Blockchain solutions, by turning data into actionable intelligence to drive more efficiency into organizations
The Company has a joint venture partnership, New Hope IoT Intl Inc., with New Hope Data Technology Co. Ltd. Internet of Things Inc. also has strategic investments in Braingrid Corp. and Blockstrain Technology Corp. and has its headquarters in Toronto, Canada.
Follow Internet of Things Inc. on:
Facebook: https://www.facebook.com/InternetofThingsInc/
Twitter: https://twitter.com/iotintl
LinkedIn: https://www.linkedin.com/company/internet-of-things-inc-
For further information, contact:
Internet of Things Inc.
Kim Nguyen, Director of Corporate Communications
Tel: (416) 792-9088
Email: knguyen@iotintl.com
To learn more, visit: www.iotintl.com
Cautionary and Forward-Looking Statements
Statements contained in this news release, which are not historical facts, are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results of the Company to differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to factors referenced in the Company’s other continuous disclosure filings, which are available at sedar.com. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws. _____________________________________________________________________________________________
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION 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
IoT-
5 years ago
Internet of Things Inc. to Acquire Weather Telematics Inc.
Source: InvestorsHub NewsWire
Internet of Things Inc. to Acquire Weather Telematics Inc.
TORONTO and OTTAWA -- May 14, 2018 -- InvestorsHub NewsWire -- Internet of Things Inc. (TSX VENTURE:ITT) (OTC:INOTF) (FRANKFURT:71T) (“IoT Inc.” or the “Company”) a strategic investor in growth-oriented companies with innovative IoT, AI and Blockchain solutions, is pleased to announce that it has entered into a letter agreement to acquire Weather Telematics Inc. (“WTX Inc.” or “Weather Telematics”) a data science company offering real-time advanced artificial intelligence (AI) based predictive road condition weather analytics for safer, connected and autonomous transportation.
The Company intends to acquire 100% of the issued and outstanding shares of WTX Inc. for $2.53 million on the following terms: (i) $230,000 in cash payable at closing; (ii) $300,000 in cash payable on the 6-month anniversary post closing; and (iii) $2,000,000 in IoT Inc. treasury shares priced on a 5-day VWAP over the next five days, with 50% of the shares to be released over three years on the 12th month, 24th month and 36th month anniversaries post closing and the 50% balance to be released on achieving $8.2 million minimum net sales target over 36 months with pro rata releases every six months.
Weather Telematics uses an AI system, a proprietary mobile sensor network and a data fusion platform to generate its information. WTX Inc. has developed a unique set of meteorological data (based on hundreds of millions of miles of road weather data) that allows it to make real-time hyper-local road condition predictions. Weather Telematics has patents pending in multiple jurisdictions for its sensor and a growing sales pipeline consisting of globally recognized automotive OEMs, electric vehicle manufacturers, telematics and logistics providers, media companies, and insurance firms. Additionally, IoT Inc. will look to expand WTX Inc. into China through its New Hope IoT Intl Inc. joint venture partnership.
WTX Inc. has assembled a strong and highly qualified management team, led by Robert Moran, CEO. Mr. Moran is an accomplished serial technology entrepreneur with several successful exits and he will continue to lead WTX Inc. Darryl Smith, Chief Technology Officer, has co-founded four technology start-ups. Michael Keefe, Chief Strategy Officer, has 20+ years of senior management experience driving innovation and global market growth. Dr. Shiven Sharma, Chief Data Scientist, has conducted extensive research in the field of AI, particularly machine learning, and has published over a dozen research papers on the subject matter.
“We are excited to launch a new era of growth for WTX with IoT Inc.,” said Robert Moran, CEO of Weather Telematics. “Internet of Things Inc.’s vision closely aligns with our strategy to apply AI-based predictive data and IoT sensor networks to solve some of the global challenges facing the transportation, insurance, and weather sectors.”
“Weather Telematics is poised for significant growth with a clear path to increased revenue and profitability. Since the signing of our global distribution agreement with WTX this past fall, we have worked alongside their team and have been extremely impressed with their continual progress,” said Michael Frank, CEO of IoT Inc. “We are looking forward to working with Weather Telematics management even more closely to accelerate and expand their market penetration and to maximize the return on investment for our shareholders.”
It is anticipated that IoT Inc. will close the acquisition of WTX Inc. by May 31, 2018. The transaction is subject to the approval of both companies’ board of directors and the TSX Venture Exchange.
About Weather Telematics Inc.
Founded in 2010, Weather Telematics Inc. is a Canadian-based, IoT data science company offering road safety data products for industrial, government and consumer markets. Weather Telematics uses a proprietary vehicle-mounted mobile IoT sensor network and AI machine learning system to generate real-time and predictive road weather conditions, road hazard risk alert notifications and dynamic routing applications. The Weather Telematics platform mitigates weather risk, reduces traffic congestion and makes connected and autonomous navigation safer in all types of road conditions.
To learn more, visit: www.weathertelematics.com
Follow Weather Telematics on: Twitter: https://twitter.com/weathertx
About Internet of Things Inc.
Internet of Things Inc. is a strategic investor in high growth companies with innovative technology solutions. The Company creates value through our portfolio companies’ expertise in the IoT, AI and Blockchain solutions, by turning data into actionable intelligence to drive more efficiency into organizations.
The Company has a joint venture partnership, New Hope IoT Intl Inc., with New Hope Data Technology Co. Ltd. Internet of Things Inc. also has strategic investments in Braingrid Corp. and Blockstrain Technology Corp. and has its headquarters in Toronto, Canada.
Follow Internet of Things Inc. on:
Facebook: https://www.facebook.com/InternetofThingsInc/
Twitter: https://twitter.com/iotintl
LinkedIn: https://www.linkedin.com/company/internet-of-things-inc-
For further information, contact:
Internet of Things Inc.
Kim Nguyen, Director of Corporate Communications
Tel: (416) 792-9088
Email: knguyen@iotintl.com
To learn more, visit: www.iotintl.com
Cautionary and Forward-Looking Statements
Statements contained in this news release, which are not historical facts, are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results of the Company to differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to factors referenced in the Company’s other continuous disclosure filings, which are available at sedar.com. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION 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
IoT-
5 years ago
C:ITT C:SR Internet of Things Inc. Announces Strategic Investment Into Blockstrain Technology Corp.
Source: InvestorsHub NewsWire
TORONTO, Ontario -- March 21, 2018 -- InvestorsHub NewsWire -- Internet of Things Inc. (TSX VENTURE:ITT); (OTC:INOTF); (FRANKFURT:71T) (“ITT Inc.” or “the Company”) a software and solutions provider to the Internet of Things market, is pleased to announce that it has made a strategic investment in Scorpion Resources Inc., to be renamed Blockstrain Technology Corp. (TSX-V:SR.H) (“Blockstrain”). Blockstrain delivers a secure and immutable blockchain platform to establish global certainty for cannabis strains and their ownership.
“Blockstrain is our first investment into our new wholly-owned subsidiary, Digital Blockware Inc. The timing is right for a truly decentralized blockchain platform to protect cannabis intellectual property and uphold stringent regulatory requirements,” said Michael Frank, CEO of Internet of Things. “The sector is still in its infancy and while a lot of focus to date has been on the producers, industry research shows that there is actually more money in the associated ancillary markets. We look forward to working with the Blockstrain team in developing cannabis specific IOT solutions, and we have high expectations for our investments into Blockstrain and Braingrid Corporation and expect both to bring value to shareholders.”
A 2016 Deloitte report estimates the base retail market value of recreational marijuana could be up to $8.7 billion. With ancillary services such as security thrown in, Deloitte projects a total market size of $22.6 billion. In arriving at these estimates, Deloitte included another 17% of respondents who said they “might” try marijuana if legalized, “suggesting the total potential marketplace…is close to 40% of the adult population.”
Internet of Things Inc. has invested $100,000 into Scorpion Resources, Inc., who has entered in to an agreement to acquire Blockstrain, which will serve as its Qualifying Transaction.
About Internet of Things Inc.
Internet of Things Inc. (www.iotintl.com) is an Internet of Things (IoT) software and solutions provider. The company acquires and implements strategic and disruptive technology solutions targeting the industrial IoT markets, including manufacturing, energy management, agriculture, transportation, social, cybersecurity, e-commerce and fintech. ITT Inc. has a joint venture partnership with New Hope Data Technology Co. Ltd for China. Its wholly-owned subsidiary Blockchain of Things develops and provides customized, scalable blockchain solutions. The Company is headquartered in Toronto, Canada.
About Blockstrain Technology Corp.
Blockstrain is developing a comprehensive, community-driven cannabis genetics registration and licensing archive platform, dedicated to making it safe and conformable for breeders and growers, large and small, to protect and release their varieties into the public domain, while also being compensated and rewarded. Blockstrain has accomplished this by utilizing blockchain and cryptocurrency features to create an ecosystem that encourages contribution of genetics and intellectual property, coupled with the security, authenticity and verification methods that modern distributed ledger technology provides.
Blockstrain combines traditional cannabis culture with modern crypto-technology to deliver a truly intelligent platform powered by the people. By being open and available to everyone, the platform is expected to help shape the future adoption and authenticity of the cannabis industry. Through use of a secure API network, Blockstrain makes it easy for testing providers, grow facilities, app and software developers, research groups and major supply chain platforms to build applications and solutions, thereby helping fuel technology and innovation for the cannabis industry as a whole.
Follow Internet of Things Inc. On:
Facebook: https://www.facebook.com/InternetofThingsInc/
Twitter: https://twitter.com/iotintl
LinkedIn: https://www.linkedin.com/company/internet-of-things-inc-
For further information, contact:
Internet of Things Inc.
Michael Frank
President & CEO
Tel: (416) 677-9277
Email: investor@iotintl.com
To learn more, visit: www.iotintl.com
Cautionary and Forward-Looking Statements
Except for the statements of historical fact contained herein, certain information presented constitutes "forward-looking information" within the meaning of applicable Canadian securities laws. Such forward-looking information, includes, but is not limited to, the relationship between Company and New Hope, the parties entering into definitive agreements with regards to the joint venture, the use of the Company and the joint venture within the New Hope's manufacturing processes and projected revenue and income of the joint venture. While such forward-looking statements are expressed by the Company, as stated in this release, in good faith and believed by the Company to have a reasonable basis, they are subject to important risks and uncertainties. As a result of these risks and uncertainties, the events predicted in these forward-looking statements may differ materially from actual results or events. These forward-looking statements are not guarantees of future performance, given that they involve risks and uncertainties. The Company does not undertake any obligation to release publicly revisions to any forward-looking statement, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at an investors' own risk.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION 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
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