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TORTOLA, BVI / ACCESSWIRE / September 23, 2020 / TraceSafe Inc. ("Tracesafe") (CSE:TSF) announced today that they have received a letter of authorization (LOA) from a large Southeast Asian conglomerate primarily focused on technology, defense and engineering. The LOA provides for an initial purchase of 30,000 wristbands and LTE Gateways, with additional purchase options over the next 12 months for sale into a major national government in the region.
This order differs from previous large-scale product procurements in that TraceSafe will deliver wristbands combined with an all-new TraceSafe LTE enabled gateway, and the complete ecosystem, including cloud management.
This deal marks another example of TraceSafe's growing presence throughout Southeast Asia and speaks directly to the success and trust our solutions are gaining throughout the region. TraceSafe's iMSafe product continues to provide scalable quarantine management solutions to governments in various countries around the world.
TraceSafe is committed to enabling its customers to implement a privacy-first user experience that helps curb the spread of COVID-19. TraceSafe's LTE gateway acts as a GPS and LTE-enabled substitute for cellphones. This provides an end-to-end solution for self-quarantine monitoring that does not require a personal mobile phone for connectivity. Since the Gateway is not connected to the user's personal mobile device, it provides users additional privacy safeguards to help ensure their personal information and data remain secure end to end. Once the self-quarantine period is over, all data is securely disposed of.
"TraceSafe is proud to be launching another major initiative in Southeast Asia who is seen as a leader in the region" announced TraceSafe CEO Dennis Kwan. "Not only does this deal bolster our position in Southeast Asia, but it gives us an opportunity to showcase the evolution of our product line - iMSafe Gateway technology. This latest development in our product line was designed to assuage personal privacy concerns by providing users with a centralized hub for self-quarantine management. Completion of this large order will have a significant impact on our top line results for 2020."
Tracesafe is a full suite of real-time location management services and contact tracing solutions enabled through advanced low power bluetooth beacons and enterprise cloud management. TraceSafe's leading cloud management solution ensures both user privacy and comprehensive administrative control. TraceSafe's patented contact tracing bracelet has already been deployed in mission critical quarantine applications around the world in partnership with leading governments. In addition to their government work, TraceSafe is developing leading edge solutions for enterprise, healthcare, education and large-scale venue management.
For further information, please contact:
Wayne Lloyd, CEO
Alan Tam, CFO
The Canadian Securities Exchange has in no way approved or disapproved the contents of this news release.
Statements in this news release may contain forward-looking statements that are based on Tracesafe's expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to expectations regarding the TraceSafe assets and their application, future business plans and relationships, future developments in respect of COVID-19 and solutions adopted in response to the virus, and the deployment and acceptance of the Tracesafe technology, revenue derived from contracts, and future orders. Although TraceSafe believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict, including the suitability of our products to help businesses and governments reopen, competition, the spread or containment of COVID-19 and government responses thereto and general economic and market conditions. Therefore, outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and TraceSafe undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.
SOURCE: TraceSafe Inc.
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