GlobeNewswire by notified

SpotLite360 IOT Solutions Announces Contract Expansion with KORcannabis

Share

DENVER and VANCOUVER, British Columbia, Nov. 23, 2022 (GLOBE NEWSWIRE) -- SPOTLITE360 IOT SOLUTIONS, INC, (“SpotLite360” or the “Company”) (CSE: LITE) (OTC: SPLTF) (Frankfurt:87A0) an emerging supply chain technology solutions company, announces a contract to provide design services, equipment and technology for KORcannabis, a large indoor cannabis cultivation and environmental control operation. This contract represents an expansion of an existing agreement and will exceed $21 million once fully implemented. This implementation is expected to be completed in fiscal year 2023. E3 Service Group, a subsidiary of SpotLite360 IOT Solutions, will be responsible for the execution of the new construction and ongoing maintenance services.

Bryson Guyer, founder of E3 Service Group, states, “We are thrilled to be working with an industry leader such as KORcannabis. We are leveraging years of expertise in designing and implementing state-of-the-art solutions to generate optimal cultivation environments. The concept of ‘environment-as-a-service’ drives a philosophy of facility optimization and product quality, using technology for real-time data capture and analytics. In today’s indoor cultivation facilities, environmental control hardware is IoT-enabled and monitored in real time, allowing for better decision making, process improvement and product quality.”

In response to the expansion of business with KORcannabis, E3 has formed a general construction management division to manage a tight deadline for completion in one hundred and twenty-nine days from date of permit issuance. The current project represents the development and configuration of a fifty thousand square foot, multi-level cultivation facility. Revenue for this project will largely be the result of hardware and equipment sales along with the necessary installation and management services required to achieve a timely completion and fully operational facility for the customer. Given the revenue composition, the Company expects gross margin on total contract revenue to be more in line with that of typical hardware and services contracts completed by the Company in previous quarters.

Neil McCabe, Vice President of E3, states, “E3 has built a strong reputation around innovation, quality and execution and is committed to exceed our customer’s expectations and timelines. We leverage technology extensively to offer full facility design, scheduling, staffing and project management for all parties and partners involved with our growing list of opportunities.”

E3 and other key partners are working closely with KORcannabis in support of their growth objectives and anticipates seeing additional facility design and construction projects nationwide, including in such states as Massachusetts, Alabama, Florida, Montana and even South Dakota, all of which are very exclusive and new markets for indoor cultivation. “E3’s custom design went above and beyond and merged with our cultivation philosophy,” said Gary “Benji” Baker, KORcannabis Director of Cultivation.

James Greenwell, President and CEO, added, “We are entering an era where chain of custody, proof of origin, authenticity and proof of sustainability are mandatory not just after thoughts. We use sensors, IoT devices, live alerts and comprehensive analytics to capture real-time data and ensure consistent quality for every cultivation cycle.”

SpotLite360 IOT Solutions, Inc, is a publicly traded company on the CSE, OTC and Frankfurt exchanges. The company was first listed in June 2021 and has made significant progress demonstrating value to the marketplace.

On behalf of the Board of Directors of the Company,

SpotLite360 IOT Solutions, Inc.

“James Greenwell”

James Greenwell, President and CEO
ir@spotlite360.com

For more information about SpotLite360, please visit: www.spotlite360.com

THE CANADIAN SECURITIES EXCH (“CSE”) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE, NOR HAS OR DOES THE CSE’S REGULATION SERVICES PROVIDER.

About KORcannabis

KORcannabis is an innovator of the medical cannabis industry striving to uncover new breakthroughs, provide alternative solutions, and deliver a personalized approach to enhance mental and physical wellness.  Chronic conditions like the opioid crisis are devastating families across America, and people are seeking alternative forms of medication. KORcannabis believes in the transformative power of cannabinoids given their potential as an alternative solution that may also limit negative responses from the human body. The Company strives to deliver a multifaceted approach to cannabinoids to achieve the right amount for the right individual at the right time.

About SpotLite360 IOT Solutions, Inc.

SpotLite360 is a logistics technologies solutions provider unlocking value, opportunities, and efficiencies for all participants in a supply chain. Building upon existing applications of IoT technologies, distributed ledgers, and machine learning, SpotLite360 endeavors to set new standards of transparency, integrity, and sustainability in the pharmaceutical, healthcare, and agriculture industries. As regulators across the globe begin to impose new tracing and accountability requirements for the protection of consumers (e.g., DSCSA and FSMA from the U.S. Food and Drug Administration), the need for reliable, cost-effective, and versatile tracking technology is expected to grow considerably. SpotLite360’s flagship SaaS solution has been engineered to seamlessly track the movement of a product by integrating with systems of all major stakeholders in a supply chain ranging from the raw materials to the hands of the end consumer. With a primary objective of onboarding new clients in 2021, SpotLite360 plans to explore innovative use cases for its proprietary stack of technologies which could transform logistics workflows in some of the world’s largest industries.

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation, with respect to the Company. The forward-looking information included in this news release is not based on historical facts, but rather on the expectations of the Company’s management regarding the future growth of the Resulting Issuer, its results of operations, performance, business prospects, and opportunities. This news release uses words such as “will”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions to identify forward-looking information. Such forward-looking information reflects the current beliefs of the Company’s management, based on information currently available to them.

This forward-looking information includes, among other things, statements relating to: the intentions, plans and future actions of the Company; statements relating to the business and future activities of the Company; anticipated developments in operations of the Company; market position, ability to compete, and future financial or operating performance of the Company; the timing and amount of funding required to execute the business plans of the Company; capital expenditures of the Company; the effect on the Company, of any changes to existing or new legislation or policy or government regulation; the length of time required to obtain permits, certifications and approvals; the availability of labor; estimated budgets; currency fluctuations; requirements for additional capital; limitations on insurance coverage; the timing and possible outcome of regulatory and permitting matters; goals; strategies; future growth; the adequacy of financial resources; our expectations regarding revenues, expenses and anticipated cash needs; and the opening of new offices. Without limiting the generality of the foregoing, the forward-looking statements in this news release includes the Company's anticipated completion of rendering services to KORcannabis in a timely manner, that the completion of the services is within the anticipated budgets, and potential new contracts with KORcannabis at other locations.

In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Forward-looking statements are based on certain assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions, and expected future developments and other factors it believes are appropriate and are subject to risks and uncertainties. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and there can be no assurance that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties, and assumptions, prospective investors should not place undue reliance on these forward-looking statements. Whether actual results, performance, or achievements will conform to the expectations and predictions of the Company is subject to a number of known and unknown risks, uncertainties, assumptions, and other factors, including those listed in the Company's non-offering prospectus dated May 26, 2021.

If any of these risks or uncertainties materialize, or if assumptions underlying the forward-looking statements prove incorrect, actual results might vary materially from those anticipated in the forward-looking statements. Information contained in forward-looking statements in this news release is provided as of the date of this news release, and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information or future events or results, except to the extent required by applicable securities laws. Accordingly, potential investors should not place undue reliance on forward-looking statements, or the information contained in those statements.

All of the forward-looking information contained in this news release is expressly qualified by the foregoing cautionary statements.

Statement Regarding Third-Party Investor Relations Firms

Disclosures relating to investor relations firms retained by SpotLite360 IOT Solutions, Inc. can be found under the Company's profile on http://sedar.com. 

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Multitude SE successfully places EUR 50 million in senior unsecured bonds7.12.2022 16:15:00 CET | Press release

Multitude SEsuccessfully places EUR 50 million in senior unsecured bonds Helsinki, 7 December 2022 - Multitude SE (“Multitude” or the “Group”) is pleased to announce the successful placement of an EUR 50 million in senior unsecured bonds (NO0012702549) with maturity in December 2025 (the “Bonds”). The net proceeds from the Bonds will, together with existing cash, be used towards refinancing Ferratum Capital Germany GmbH's outstanding bonds maturing in April 2023 (ISIN SE0012453835) (the “Outstanding Bonds”). The Outstanding Bonds will be repaid shortly after the settlement of the new bond issue. The bond issue saw strong demand from both existing and new investors, it will carry a floating rate coupon of 3 month Euribor plus 7.50 per cent and was priced at 97.00 per cent of the nominal amount. The Bonds will be listed on a regulated market within six months and the Frankfurt Stock Exchange Open Market within 60 days (with intention to list within 30 days). “We are proud of a successful

Chain Cloud is Officially Live to the Public7.12.2022 16:00:00 CET | Press release

Developers can now access the full version of Chain Cloud to deploy nodes and access over 18 public blockchain networks on-demand CHARLESTOWN, Saint Kitts and Nevis, Dec. 07, 2022 (GLOBE NEWSWIRE) -- The wait is finally over. Chain is excited to announce that Chain Cloud is officially live and available to access for developers worldwide. The decentralized and distributed infrastructure protocol was created for developers to access blockchain networks instantly and on demand. Chain Cloud supports over 18 blockchains that are EVM compatible - meaning developers can write and deploy smart contract code that is compatible with the Ethereum Virtual Machine, and can be read by nodes on the Ethereum network. Developers can readily access the most prominent public networks, such as Ethereum, Solana, Polygon, BNB Chain, and many more. The majority of the open blockchain networks are available for free thanks to the standard RPC API, giving developers quick, private, and secure endpoints to bui

CoinShares International Limited has been approved for listing on Nasdaq Stockholm7.12.2022 16:00:00 CET | Press release

Wednesday, 7 December 2022 |SAINT HELIER, Jersey -Nasdaq Stockholm's listing committee has today approved CoinShares International Limited's ("CoinShares" or the "Company") application for admission of the Company's shares to trading on Nasdaq Stockholm's main market. The approval is conditional upon customary conditions being fulfilled, for example that a prospectus is approved by and registered with the Swedish Financial Supervisory Authority ("SFSA") (Sw. Finansinspektionen) and that the requirements on liquidity of the Company's shares are fulfilled. First day of trading on Nasdaq Stockholm is scheduled to 19 December 2022 and last day of trading on Nasdaq First North Growth Market is scheduled to 16 December 2022. The Company listed on Nasdaq First North Growth Market in March 2021 under the ticker "CS" and since the listing, the Company has worked strategically to develop the organization and its internal processes to meet the enhanced requirements placed on companies listed on N

Innofactor Plc: Managers’ Transactions – Martin Söderlind7.12.2022 16:00:00 CET | Press release

Innofactor Plc Managers' Transactions, on December 7, 2022, at 17:00 Finnish time Innofactor Plc - Managers' Transactions ____________________________________________ Person subject to the notification requirement Name: Martin Söderlind Position: Other senior manager Issuer: Innofactor Plc LEI: 7437008OSKQFEDZYD835 Notification type: INITIAL NOTIFICATION Reference number: 7437008OSKQFEDZYD835_20221207160906_5 ____________________________________________ Transaction date: 2022-12-07 Venue: OFF-EXCHANGE TRANSACTIONS (XOFF) Instrument type: SHARE ISIN: FI0009007637 Nature of the transaction: SUBSCRIPTION Transaction details (1): Volume: 10,000 Unit price: 1.00 EUR Aggregated transactions (1): Volume: 10,000 Volume weighted average price: 1.00 EUR Espoo, December 7, 2022 INNOFACTOR PLC Michaela Skrabb, General Counsel Additional information: Michaela Skrabb, General Counsel Innofactor Plc Tel. +358 40 724 5282 michaela.skrabb@innofactor.com Distribution: NASDAQ Helsinki Main media www.inno

Boreo Plc new shares registered to trade register7.12.2022 16:00:00 CET | Press release

Boreo Plc Stock exchange release 7 December 2022 at 17:00 EET Boreo Plc new shares registered to trade register Boreo Plc announced on 1 December 2022, that it had signed and completed a share purchase agreement to acquire the entire share capital of J-Matic Oy and J-Matic Rent Oy and executes a directed share issuance of 5 000 new shares to the seller as part of the acquisition price. The new shares subscribed have been registered into the Finnish Trade Register today, on 7 December 2022. After the registration of the new shares, the company will have 2 691 708 shares in total. The new shares produce the shareholder rights as of the registration date to Euroclear Finland Ltd book-entry system, on about 8 December 2022. The new shares will be admitted to trading on the official list of Nasdaq Helsinki Ltd on about 8 December 2022. Vantaa, 7 December 2022 Boreo Plc Kari Nerg CEO Distribution: NASDAQ Helsinki Ltd Principal media www.boreo.com For more information: CEO Kari Nerg +358 44 3