DENVER, COLORADO--(May 15, 2018) - TrackX Holdings Inc. (TSX VENTURE:TKX; FRANKFURT: 3TH) ("TrackX" or the "Company”), a software-as-a-service (SaaS)-based enterprise asset management solution provider, announces the expansion of an existing contract with a leading provider of portable toilet rental services. While TrackX’s Global Asset Management for Enterprises (GAME) solution already tracks some of the client’s portable toilets, it now expands to manage portable washroom trailers and associated workflows. Part of the solution includes advanced reservation and appointment scheduling, in addition to the automated inventory functions of GAME. TrackX’s client will benefit from the expansion of service by being able to more effectively fulfill rental orders and improve service to their customers. The solution will be deployed at the first of potentially twelve client facilities at which this particular asset class is being inventoried.
“As we continued to educate our customer on the further benefits of the GAME platform, it was quickly realized that additional assets within the enterprise could also benefit from the solution,” said Tim Harvie, CEO of TrackX. “Through asset class expansion and additional workflow processes, we continue to provide invaluable business intelligence to our customers, further increasing our footprint within the enterprise and remaining consistent with our ‘Land and Expand’ strategy.”
The Company also announces that after undertaking its annual performance review, it has granted a total of 885,000 incentive stock options to directors and employees of the Company, subject to TSX Venture Exchange acceptance. Each option is exercisable to purchase one common share of the Company for five years at a price of C$0.285 per common share in accordance with the terms of the Company’s stock option plan.
The Board of Directors of the Company also approved the grant of 1,100,000 restricted share units to certain directors, officers, and employees of the Company, subject to the meeting of certain vesting and performance conditions. The restricted share units were granted in accordance with the Company’s fixed, restricted share unit plan.
TrackX, Inc. (TSX VENTURE:TKX), based in Denver, Colorado, is an enterprise asset management company deploying SaaS-based solutions leveraging multiple auto-ID and sensor technologies for the comprehensive tracking and management of physical assets. TrackX's Global Asset Management for Enterprises (GAME) platform enables the IIoT by providing unique item level tracking, workflow processing, event management, alerting and powerful analytics to deliver solutions across a growing number of industries. TrackX delivers significant value to a growing list of Fortune 500 companies and for customers in industries such as transportation, beverage, brewery, healthcare, hi-tech, hospitality, mining, agriculture, horticulture, manufacturing and government.
For more information, please contact:
Gene McConnell, TrackX Holdings
Sean Peasgood, Sophic Capital
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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.