DENVER, COLORADO--(Marketwired - Sept. 27, 2016) - TrackX Holdings Inc. (TSX VENTURE:TKX)
("TrackX" or the "Company"), a leading provider of enterprise level RFID-enabled asset tracking and supply chain management
solutions, has signed an enterprise-wide implementation and software licensing agreement with a leading U.S. used car retailer
(the "Customer"). Phase one of the agreement, including hardware and software customer integration and ongoing monthly-billed
software as a service (SaaS) is initially valued at over C$1,000,000.
Through the remainder of 2016, TrackX will deploy its asset tracking and supply chain management solutions in all of the
Customer's current locations to track more than 10,000 cars located in 20 lots throughout the United States. The TrackX solution
will also be deployed in new sites in 2017 as the Customer continues its expansion throughout the United States.
In addition to real-time location data, the TrackX solution includes powerful inventory management and workflow solution, and
data analytics which will be deployed in a cloud-based application fully integrated with the Customer's enterprise
systems.
Phase one of the install is to manage the Customer's inventory of automobiles across all locations. Phase two is to provide
workflow tracking data and analytics to manage the flow of vehicles through the Customer's automotive processing facilities,
within which the automobiles are put through mechanical checks, various maintenance and repairs and finally a sophisticated media
shop to prepare for the addition of the vehicle to the Customer's retail website.
The Customer selected TrackX for its proven expertise in supply chain management solutions and capability to support the
Customer's requirements for work-in-process as it refurbishes and accessorizes vehicles throughout its facilities. TrackX will
become an essential component to the Customer's operations as it continues provide the highest quality of service for the highest
quality of vehicle, with the timeliest delivery of vehicles to its customers.
Tim Harvie, President and CEO of TrackX, said, "This enterprise-wide application of TrackX will utilize our supply chain
management solution and the capabilities we have around real-time locationing using passive RFID -- a low cost alternative to
GPS. It will also leverage the work we already do for Fortune 500 companies, such as vending machine maintenance, for work
in-process, managing assets through their receipt, assessment phase, customization and repair through to their media
center. This implementation is a classic example of how TrackX customers are embracing its SaaS based solutions and further
enabling the Internet of Things through the unique item level tracking and management of high-valued assets. It aligns the value
and efficiencies they gain from TrackX with their operational goals. Key to TrackX investors is the long-term customer
retention and recurring revenue and that is built into both the SaaS model and the sustainable differentiation of TrackX solution
offerings."
About TrackX
TrackX, headquartered in Denver, Colorado, is a cloud based asset tracking solutions provider. We deliver a highly
configurable software platform along with the design and implementation of holistic solutions offering business intelligence,
visibility, utilization and analytics pertaining to high-value assets in a vast array of industries. 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. Today, TrackX is providing high-value asset tracking, yard management, returnable asset management and mobile
inventory management solutions to customer in such industries as transportation, beverage, brewery, healthcare, hi-tech,
hospitality, mining, agriculture, horticulture, manufacturing and government.
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking
statements" under applicable Canadian securities legislation. Forward looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other
factors which may cause the actual results and future events to differ materially from those expressed or implied by such
forward-looking statements. All statements that address future plans, activities, events or developments that the Company
believes, expects or anticipates will or may occur including the Company's anticipated pipeline and value of current and customer
deployments and future opportunities are the managements best estimates and cannot be guaranteed or relied upon and is
forward-looking information. 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 statements. The Company disclaims any intention or obligation to update or revise any forward-looking
statements in this news release, whether as a result of new information, future events or otherwise, except as required by
law.