TORONTO, Aug. 13, 2018 (GLOBE NEWSWIRE) -- Imex Systems Inc. ("Imex" or the "Company") (TSX VENTURE:IMEX), a software solution provider to Governments, Municipalities and Public Authorities, has signed a Definitive Agreement with Blockgration Global Corp.(“BGC”), an established mobile wallet and Blockchain company that is quickly expanding its global presence both in government and private enterprise.
The intent is to establish a new strategic partnership that leverages each company’s unique strengths and assets to enhance product & service offerings and expand market reach and revenue growth. Imex's i-Gov platform will be integrated with Blockgration’s mobile wallet and Blockchain platform to create a completely unique payment, communication and software services platform to enable all levels of government to manage their processes with greater efficiency, security and transparency.
Some Highlights of the Imex and Blockgration Strategic Partnership:
- IMEX and BGC will add Blockchain infrastructure to the IMEX i-Gov Platform for certain government functions such as data security and payment transactions.
- BGC will customize the IMEX i-Gov. Platform for the initial Proof of Concept launch in Guyana and then expand into other CARICOM countries.
- Imex’s i-Gov gateway will be integrated with BGC’s mobile wallet for deployment in Nigeria. BGC will pave the way for Imex to secure contracts utilizing the i-Gov software.
- Imex & BGC have agreed to a revenue sharing arrangement in each of the deployments. The revenue and cost sharing will be on a case by case basis depending on which partner the primary contract has with the customer. In all cases both parties will share revenues.
"This is a very natural combination that enables us to bolt on a best in class e-government platform with a Blockchain driven mobile wallet facilitator. Imex is taking advantage of new technology and cost synergies for overall product enhancement and market development. Many governments are struggling to execute on their digital transformation and this strategic partnership is a very timely opportunity for Imex to create substantial and highly scalable revenues and profits,” stated Kris Parthiban, Interim CEO.
About Imex Systems
Imex Systems Inc. is a Canadian software products and solution provider to Governments, Municipalities and Public Authorities in Canada and internationally. Imex primarily focuses on E-Government and the Smart Cities market that also include the integration to payment processing. The company helps public sector entities to provide "Any Time, Any Where, Any Device and Any Channel" convenience for citizens to access government services and help with digital transformation of government operations and streamline revenue. Imex's various product and service offerings include: i-Gov - a Digital Government Platform for all levels of governments, which provides all the pre-built components for building an effective Digital Government and supporting payment processing through multiple channels; iCity - a Smart City Solution; and miGov - a Mobile Government Framework.
About Blockgration Global Corp.
Blockgration is a Canadian Based private company that provides a one-stop Digital Payment and Blockchain solution. Blockgration aims at serving the consumers (Banked, Unbanked and Underbanked) with Online and Mobile Banking facilities on Traditional and Blockchain Platforms from anywhere to anywhere by incorporating its Global Compliance engine to settle transactions globally.
Forward-Looking Statements
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities laws. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.
This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information in this news release include, but are not limited to, statements with respect to: increased sales from existing customers and new customers and the potential opportunities to be created from the joint venture with BGC related to mobile payments and cyber security. Forward-looking information necessarily involve known and unknown risks, including, without limitation : the need for approvals from the relevant government body; future capital needs and uncertainty of additional financing; the competitive nature of the industry; the effects of product development and need for continued technology change; and those risks set out in the Company's public documents filed on www.sedar.com.
Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION
Imex Systems Inc.
Kris Parthiban, Interim President and CEO
416 899 9720
krisp@imexsystems.com