EYEfi Signs Strategic Engagement to Support Growing Opportunities in California and the United States
EYEfi Group Technologies Inc. has partnered with Thomas Armstrong of Tyley Capital Group, LLC, to explore opportunities for its SPARC technology in the autonomous vehicle and drone sectors across the U.S. Armstrong brings 37 years of legal experience in venture capital and M&A, enhancing EYEfi's strategic outreach. The SPARC technology, equipped with proprietary algorithms, is designed for covert geo-targeting without GPS reliance, expanding its use in various industries. EYEfi aims to leverage this partnership to grow its U.S. customer base, particularly within the drone market.
- Strategic partnership with industry veteran Thomas Armstrong to enhance U.S. market outreach.
- SPARC technology's unique capabilities allow for advanced geo-targeting without GPS, broadening its application.
- None.
TORONTO, ON / ACCESSWIRE / November 15, 2021 / EYEfi Group Technologies Inc. (CSE:EGTI)(OTC PINK:EGTTF) ("EYEfi") is pleased to announce an agreement with Thomas Armstrong of Tyley Capital Group, LLC in California, to facilitate the development of opportunities in EYEfi's SPARC technology and associated product suite, for use in autonomous vehicles, unmanned aerial/sea vehicles and drones, and across a wide range of industry and defense applications in the United States. Mr. Armstrong has over 37 years of legal experience in representing companies and investors in venture capital financings, private placements, angel financings, mergers and acquisitions, and general corporate matters. His practice includes representation of companies and investors in various industries including medical devices, software, internet, consumer goods, telematics and entertainment. Mr. Armstrong is also a FINRA registered investment banker holding a Series 63 license, a Series 79 license and a Series 82 license.
EYEfi's geospatial technology, ‘EYEfi SPARC' powers EYEfi's product suite, such as EYEfi Cloud and our Smartphone App, SpatialEye, and has registered patents in 7 countries including Canada and the United States. The technology includes a set of proprietary algorithms that can be installed on cameras and sensors and used to determine the location of any object being viewed or pointed at by the device. The system does not use GPS, satellite, or the internet and is totally covert and undetectable when in use. The algorithms also have several proprietary modules, for instance, an image that has been captured using SPARC can be shared or integrated into 3rd party applications to conduct a real-time query on any pixel to pull location data, plus any other dataset on the internet that is relevant to that location at that time.
There is a broad range of use cases for the SPARC technology for use in drones, autonomous vehicles, military, defense, smartphone, on-person, and wearable devices, that can all leverage geo-spatial and 3D data to provide real-time targeting of geo-locations using cameras; significantly extending their on-board sensory from just meters to miles, using EYEfi's proprietary SPARC technology.
Mr. Armstrong, as an industry veteran in the United States, is well placed to assist the Company with strategic introductions to potential new US based customers and distributors with several key targets having already beenidentified.
Mr. Armstrong said: "I am excited to be working with EYEfi in their efforts to grow their customer base in the US with key targets where EYEfi's SPARC technology can be leveraged."
EYEfi's CEO and Head of Research and Development, Simon Langdon, said "EYEfi is thrilled to secure Tom's services to assist us with our growth plans in the US. Tom is an industry veteran with strong, quality relationships in our target market and in particular, the drone/UAV segment. We are looking forward to working with Tom as we continue our expansion plans into the US"
More information on EYEfi SPARC can be found on our website here
Investors and brokers can contact Mark van der Horst at mark@galecapital.com or on 604 200-1480 (Cell 604 760-7604)
About EYEfi in detail:
EYEfi is connecting the world's people and devices with the world around them, in real-time and in ways not previously possible.
EYEfi is a software and electronics engineering company that has developed, patented and commercialized an innovative spatial technology; spatial, predictive, approximation and radial convolution (SPARC) and an associated product suite, that turns sensors, cameras and smartphones (fixed, mobile, airborne, portable or handheld) into geo-target co-ordinate acquisition devices.
EYEfi has also developed IIoT sensor hardware and associated cloud software, as a second pillar within its product offering. EYEfi Cloud is a next generation cloud platform that provides a secure and centralized environment where customers can manage their EYEfi product deployments and applications.
On behalf of the board of directors of
EYEFI GROUP TECHNOLOGIES INC.
"Simon Langdon"
Simon Langdon, CEO
For more information contact:
| Simon Langdon Chief Executive Officer EYEfi Group Technologies Inc. Email: info@eyefi.com.au | Mark van der Horst Investor Relations EYEfi Group Technologies Inc. Telephone: +1 (604) 760 7604 Email: mark@galecapital.com |
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE. NO SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.
FORWARD-LOOKING INFORMATION
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information.
The forward-looking statements are based on the reasonable assumptions, estimates, opinions and analyses of management made in light of its experience and perception of historical trends in the delivery of services through its Cloud, current conditions, expected future developments and other factors management of EYEfi believes are appropriate, relevant and reasonable in the circumstances at the date that such statements are made. All of these assumptions, estimates and opinions will necessarily be subject to change due to future events and other circumstances outside the control of EYEfi, including the effect of the Covid 19 virus. EYEfi has based the forward looking information on various material assumptions, including: despite the threat of the Covid 19 virus, EYEfi will sustain or increase profitability although on a slower projection then previously planned, and will be able to fund its operations with existing capital and projected revenue from its current agreements with its Channel Partners; EYEfi will be able to attract and retain key personnel in future if required; the general business, economic, financial market, regulatory and political conditions in which EYEfi operates will remain positive as its services can be provided in EYEfi's Cloud although deliver of its hardware may be affect by supply chain disruptions; that the general regulatory environment will not change in a manner adverse to the business of EYEfi; the tax treatment of EYEfi and its subsidiary will remain constant and EYEfi will not become subject to any material legal proceedings; the economy generally; competition, and anticipated and unanticipated costs
Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors, assumptions and exclusions is not exhaustive.
The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Canadian Securities Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
SOURCE: EYEfi Group Technologies Inc.
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FAQ
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