Affluence Corporation's OneMind Technologies Awarded Multi-Million Dollar Contract For Smart City Project in Saudi Arabia's Capital

Rhea-AI Summary

Affluence Corporation has secured a multi-year, multi-million dollar contract to provide its smart city software solution to a high-profile smart city project in Riyadh, Saudi Arabia. The contract was secured by one of their premier technology partners, and there are more contracts associated with this project that will be awarded in the next twelve months. The company's Q2 financials will include the software for Phase 1 of the project.

Positive

• Affluence Corporation has secured a multi-year, multi-million dollar contract for a high-profile smart city project in Riyadh, Saudi Arabia. This contract will positively impact the stock price.

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• None.

OAK BROOK, IL / ACCESSWIRE / June 28, 2023 / Affluence Corporation (OTC PINK:AFFU) a leader in Smart City Software and Internet of Things (IoT) technology announced today that it has received a multi-year, multi-million dollar contract to provide it's best in class smart city software solution to a high profile smart city project for the city of Riyadh, Saudi Arabia. The contract was secured by one of our premier technology partners and there are several more contracts associated with this project that will be awarded over the next twelve months. There will be a formal signing ceremony amongst all three parties in the next 60 days that will bring to light the magnitude of this contract. OneMind Technologies has already shipped the software for Phase 1 of the project and it will be included in the company's Q2 financials.

"This Smart City Project in Riyadh is one of the largest, highest priority and high profile projects in the Middle East and in the world," said Stephane Eyme, Global CEO of OneMind Technologies. "This was an incredibly hard fought win for the OneMind Technologies team and in the final analysis we won the contract because of the ease of use, technological connectivity and a coordinated joint sales effort with one of premier partners. This is the second time that we went head-to-head against a Fortune 200 company and won a multi-million dollar opportunity where the customer viewed our technology and approach as superior. This is significant because there are at least 4 more smart city projects associated with this Riyadh contract and because of our win here OneMind will be viewed as the incumbent for those as well. While the contract has been executed and the Phase 1 software has been shipped, we are under a strict non-disclosure until the formal signature ceremony amongst all three parties at which time the market will realize the significance of this win," said Eyme.

About Affluence Corporation

Affluence Corporation (AFFU.PK) is a diversified technology company focused on smart city software and innovative solutions that capitalize on IoT, AI and 5G technologies. We are investing in mid-market businesses to create a cohesive unit which brings together technology for the next generation of internet. For more information go to https://affucorp.com

About OneMind Technologies SL

OneMind Technologies SL is a wholly owned subsidiary of Affluence Corporation. The OneMind Intelligent IoT solution builder is used to create applications for smart construction and smart city operations. Functioning as systems of systems, OneMind connects data sources to one single point of insight to provide real-time information on operational processes. It is a key component in the enterprise solutions currently being offered by several Fortune 50 companies that resell, distribute, and integrate smart city enterprise solutions. The OneMind Smart City solution is deployed in Barcelona, San Francisco, Guadalajara, Oslo and many other cities throughout the world. For more information go to https://www.onemindtechnologies.com

For further information contact Affluence Corporation Investor Relations at 720-295-6409.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: general economic business conditions, competitive and technological factors, markets, services, products and prices, availability and the cost of capital, success of growth initiatives, limited operating history and other factors discussed in our filings with the Securities and Exchange Commissions. Additionally, this release may not be considered as legal, accounting, or investment advice, and is not, and may not be considered, a solicitation for the purchase of any securities issued by Affluence Corporation.

SOURCE: Affluence Corporation

View source version on accesswire.com:
https://www.accesswire.com/764227/Affluence-Corporations-OneMind-Technologies-Awarded-Multi-Million-Dollar-Contract-For-Smart-City-Project-in-Saudi-Arabias-Capital

FAQ

What is the contract for?

The contract is for providing smart city software solution to a high-profile smart city project in Riyadh, Saudi Arabia.

Who secured the contract?

The contract was secured by one of Affluence Corporation's premier technology partners.

Will there be more contracts awarded?

Yes, there are more contracts associated with this project that will be awarded in the next twelve months.

What will be included in the company's Q2 financials?

The software for Phase 1 of the project will be included in the company's Q2 financials.