Mr. Tim Harvie reports

TRACKX ACCELERATES DEPLOYMENT FOR WORLD LEADING BEVERAGE COMPANY

TrackX Holdings Inc. is accelerating the nationwide implementation and deployment of asset-tracking, manufacturing work-in-process and yard-management solutions across multiple divisions of one of the world's largest beverage companies.

Among the implementations scheduled in the near term will be the deployment of TrackX's yard-management solution for one of the customer's largest fully automated sortation and distribution facilities in North America. Leveraging GPS (global positioning system) and RFID (radio-frequency identification) technologies simultaneously, the TrackX yard-management solution will provide real-time visibility to trailer location, status and utilization. Combined with powerful data analytics and sophisticated workflow processing, TrackX is delivering operational efficiencies at the dock, within the yard and at the entry gates.

Revenue to TrackX is derived from deployment of hardware including RFID tags and readers, and GPS on shunt trucks in the yard, application and integration services, and recurring revenue for cloud-based software deployed in a monthly software-as-a-service (SaaS) model.

To effectively respond to the increased demand from both existing customers as well as a rapidly growing pipeline of new opportunities, TrackX continues to focus efforts on both expanding its partner program, as well as hiring additional resources internally. This expansion facilitates the implementation and support of the TrackX solution suite throughout a growing number of enterprise accounts.

"The continued deployment of TrackX moves this world-leading beverage customer one more step towards a standardization of improved and efficient operational processes that includes integration into their ERP system," said TrackX president and chief executive officer, Tim Harvie. "The operational and labour efficiencies they gain at these initial sites will become replicable across the multiple dozens of locations that this enterprise account represents."

Grant of company stock options

The company also announces the grant of 450,000 stock options to its recently appointed chief operating officer, Jason Read. Each option is exercisable to acquire one common share of the company at a price of 39.5 cents until Oct. 31, 2021, in accordance with the terms of the company's stock option plan.

About TrackX

TrackX is a cloud-based asset-tracking solutions provider. TrackX's patented, enterprise-scalable, cloud-based asset-tracking platform combines support for multiple auto-ID technologies with workflow, event management, alert notification and a comprehensive analytics platform to deliver significant value to a growing list of Fortune 500 customers.

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