05:51:23 EDT Tue 14 May 2024
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Integrated Cyber Solutions Inc
Symbol ICS
Shares Issued 61,495,676
Close 2024-04-03 C$ 0.225
Market Cap C$ 13,836,527
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Integrated Cyber clarifies status of deal with HSG

2024-04-03 18:22 ET - News Release

An anonymous director reports

INTEGRATED CYBER SOLUTIONS CORRECTS STATEMENT IN PREVIOUS RELEASE ISSUED ON APRIL 2, 2024

Integrated Cyber Solutions Inc. wishes to correct an error in its previously issued press release titled, "Integrated Cyber Solutions Unveils Joint Venture Partnership with Hospitality Company in the Middle East," issued on April 2, 2024.

The error pertains to the status of the relationship with HSG Middle East. The company apologizes for any inconvenience this may have caused and appreciates your understanding.

The company intended to announce that it has entered into a letter of intent to form a joint venture (JV) partnership (ICS Middle East) with an established company based in the United Arab Emirates, HSG Middle East. Since 2012, HSG has been delivering specialized hospitality network and technology solutions across the Middle East. HSG is a member of the Gulf Cooperation Council (GCC), with relationships totalling over 500 hotels and 55,000 rooms in the region.

The purpose of the joint venture with HSG will be multifaceted and strategic by nature. By establishing ICS Middle East, Integrated Cyber seeks to cultivate business alliances involving strategic partnerships with local entities to leverage their expertise and networks. Through this partnership, the company anticipates gaining access to local market insights, cultural nuances and regulatory knowledge essential for navigating and participating in this unique regional landscape.

Specifically, ICS Middle East will initially be focused on five key areas to grow its presence and commercial opportunities in the region:

  • Collaborate with the UAE government to develop a credentialling system tailored for individuals, corporations and government agencies within the UAE;
  • Maintain focus on delivering cyber services to the power generation industry, leveraging its expertise honed through serving a major electricity generator company with over 15 power plants. It is anticipated that ICS Middle East will be in contention to provide cyber services to a power plant supplying approximately 20 per cent of Dubai's electricity;
  • Offer cyber services to existing hotel and hospitality clients of HSG, which include prominent names such as EMAAR Hospitality, Fairmont, Hilton, Atlantis, Jumeirah Hotels, Rotana and Starwood hotels;
  • Establish a partnership with a leading provider of critical IT (information technology) services and hardware to the UAE health care sector to offer cyber services to the company's existing client base;
  • Capitalize on the momentum created by HSG's new office in Riyadh, Saudi Arabia, with plans to replicate the successful approach in the UAE by providing cyber services to hospitality, health care and governmental sectors. This initiative builds upon existing relationships with entities such as the Saudi Arabia National Guard, Neom and the sovereign investment fund PIF (Public Investment Fund).

ICS Middle East participated in the ISACA (Information Systems Audit and Control Association) infosec/cybersecurity 2023 conference in Dubai, winning the best newcomer award. ISACA is a global professional association and learning organization that leverages the expertise of its more than 165,000 members which work in digital trust fields such as information security, governance, assurance, risk, privacy and quality. It has a presence in 188 countries, including 225 chapters worldwide.

About Integrated Cyber Solutions Inc.

Integrated Cyber Solutions is a managed security service provider (MSSP) that humanizes cybersecurity managed services to the small-to-medium business (SMB) and small-to-medium enterprise (SME) sectors. The company integrates capabilities from third party cybersecurity providers, ensuring customers have access to the latest cybersecurity solutions. Apart from providing essential cybersecurity services, Integrated Cyber's managed services and IC360 technology platform consolidate vast amounts of information to generate actionable intelligence from the numerous software point solutions within its customer's environments. The results enable simple, understandable and actionable insights to help customers comprehend and better secure their organization.

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