Toronto, Ontario--(Newsfile Corp. - July 15, 2024) - BeWhere(TSXV: BEW) (OTCQB: BEWFF) ("BeWhere" or the "Company"), a leading Mobile Internet of Things (M-IoT) company, proudly announces that further to the company's November 27, 2023 press release, follow-up orders have been received exceeding 16,000 low-power 5G IoT asset trackers, platform and integration services. The order is to a global Fortune 100 shipping and logistics company. While the identity of our client remains confidential, the additional orders represent both expansion within the original division and deployment to a new division.
Brian Boychuk, Senior Vice President of Sales and Marketing remarked: "This is the outcome of a series of milestone achievements. Notably, a key result of the winter implementation was to demonstrate a 15% savings to a sizeable operational budget investment related to managing peak season activity for one department. But more generally speaking, the project highlights BeWhere's strengths as an end-to-end solution provider and our ability to adapt to rigorous security requirements and to customize to internal business processes."
Alban Hoxha, Chief Technology Officer, emphasized the team's collaborative spirit and technological expertise, stating: "Our partnership model with the client exemplifies our adaptability and flexibility. We successfully navigated stringent security protocols, seamlessly integrated with their enterprise systems, and customized our application to align with their unique workflows. The dedication and skill demonstrated by our Technology teams, both Hardware and Software, have shone throughout this endeavor. Our agility in adapting to the expanding mobile IoT market will continue to be an important differentiator."
The company further announces the appointment of A F Parker Consulting, a new London-based marketing consultancy, to support marketing activities including communicating its latest solutions and successes.
A F Parker Consulting, which is led by telecom marketing industry veteran, Andrew Parker, has a remit to promote BeWhere's innovative mobile tracking solutions and demonstrate their benefits to a wider customer audience. The appointment comes as the demand for BeWhere's low-power 5G wide area tracking solutions continues to soar in North America and worldwide.
A F Parker founder, Andrew Parker has over forty years of relevant global marketing experience including roles at Nokia, GSMA, BT, Cable & Wireless and 3UK Hutchison Whampoa.
Owen Moore, CEO at BeWhere commented, "We're thrilled to be working with Andrew, who brings a wealth of mobile industry experience and an established network of technology experts to the table. His expertise will help us communicate BeWhere's innovative mobile tracking solutions and support us in the next stage of our growth."
Andrew Parker, Founder and CEO at A F Consulting added, "5G IoT is rapidly reshaping our world, offering unprecedented benefits to businesses and consumers. Success in this dynamic market hinges on effectively communicating not just the technology, but its real-world impact. BeWhere are successful market leaders, in low-power wide area 5G IoT tracking, with a proven business model. I'm excited to be working with the BeWhere team to help them grow even faster."
Grant of Options - The Company has granted an aggregate of 100,000 options each to purchase 100,000 Common Shares at an exercise price of $0.45 per share which options will expire on July 12, 2029, to two independent directors.
Non-IFRS Measures
Adjusted EBITDA is a non-IFRS measure and does not have standardized meaning as it relates to performance measures and may not be comparable to other issuer disclosures of similar performance measures. The Company has provided a reconciliation of Adjusted EBITDA to IFRS profit (loss) in the Management's Discussion and Analysis for the period ended December 31, 2023. Adjusted EBITDA is defined as earnings before interest income, taxes, depreciation and amortization, share-based compensation, and other non-recurring gains and losses. Management believes that Adjusted EBITDA is a useful measure that facilitates period to period operating comparisons. Adjusted EBITDA should not be considered superior to IFRS net income (loss).
About BeWhere
BeWhere (TSXV: BEW) (OTCQB: BEWFF) is a Mobile Internet of Things ("M-IoT") solutions company that designs and sells self-powered hardware with sensors and software applications. Our solutions serve two main markets: (1) Asset Tracking, consisting of remote location tracking various non-powered fixed and movable assets such as trailers, dry vans etc., and (2) Connected Sensors, to remotely track information on assets for water pressure, water detection and soil moisture. BeWhere's devices use the latest available cellular technologies (LTE-M and NB-IoT) to transmit collected data into mobile applications and cloud-based platforms, at a much lower cost than traditional cellular networks. BeWhere also offers solutions that can be fully integrated with existing software, and white-labeled. BeWhere' solutions are innovative, offering low-cost sophisticated technology which allows customers to deploy remote tracking technology where cost was previously prohibitive.
BeWhere Inc. Margaux Berry, VP Strategy and Growth 1 (844) 229-4373 x 107 [email protected]
Cautionary Statements Regarding Forward Looking Information
Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance, are "forward-looking statements".
We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements.
Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including technology development, anticipated revenues, projected size of market, and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
BeWhere Holdings Inc. (the "Company") does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, technology development and marketing activities, the Company's historical experience with technology development, uninsured risks. Actual results may differ materially from those expressed or implied by such forward-looking statements.
The Company's audited Interim Consolidated Financial Statements for the period ended December 31, 2023 and 2022, together with its corresponding Management's discussion and analysis can be found under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.bewhere.com.
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.
