EYEfi Signs Its Next Major Distributor for EYEfi Cloud Connect with VSP Solutions

TORONTO, ON / ACCESSWIRE / July 6, 2022 / EYEfi Group Technologies Inc. (CSE:EGTI) (OTC PINK:EGTTF) ("EYEfi") is pleased to announce it has signed its next major distributor, Video Security Products (VSP Solutions), for the forthcoming launch of the EYEfi Axis product, EYEfi Cloud Connect (ECC), creating yet another major platform for EYEfi's sales opportunities and revenue growth.

VSP Solutions is an Australian owned and independently operated business that was established in 1993, who pride themselves on being a distributor which ensures that all stakeholders achieve their desired outcome. VSP Solutions adds yet another strong and respected sales channel for EYEfi, and will be marketing and selling ECC being launched in August 2022 at ASIAL in Sydney, Australia.

The agreement with VSP Solutions provides further sales reach for EYEfi; maximizing the opportunity for the rapid adoption of ECC and generating strong sales revenue.

VSP's Group General Manager, Tony Elhag, said "VSP are extremely proud to be partnering up with such a dynamic company. EYEfi presents a holistic cloud-based solution, working hand in hand with our Axis offering, and distribution network".

EYEfi has been working closely with VSP Solutions ahead of the formal launch, and in conjunction with our product partner, Axis Communications, has provided important insights and feedback enabling EYEfi to further refine the product and commercial offering to ensure its well positioned for success with their resellers and end customers.

This innovative product will offer customers an easy way to connect, monitor and manage Axis cameras on the internet. ECC is an entirely cloud-based video service platform and will enable the EYEfi and Axis sales channels with recurring subscription-based revenue, while providing end customers with a reliable and effective monitoring solution for Axis cameras.

EYEfi's CEO, Simon Langdon said "We're really pleased to have signed VSP as a major distributor for our ECC product offering. Tony Elhag and I have had a long association within our industry, both having worked with each other previously in the supply chain and vendor space. People buy from people, and now we have an opportunity to take that relationship to the next level and value-add to this for the benefit of both of our organizations and downstream customers".

The ECC subscription-based offering will be available initially via Axis' vast distributor, reseller and partner networks across Australia and New Zealand. Axis plans to expand this offering into other major regions around the world, once launched here in Oceania.

More information about EYEfi can be found here

More information about VSP Solutions can be found here

More information about Axis Communications can be found here

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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:

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.

About VSP Solutions

VSP Security Wholesale is an Australian owned and independently operated business that was established in 1993. We pride ourselves in being a distributor which ensures that all stakeholders achieve their desired outcome.

Over the years we have listened to the needs of our customers and built a team that focuses on service and assistance. We will stand behind our customers and never leave you in a compromised or unsupported situation with your client.
We support our product and our partners to ensure that projects are delivered on time, on budget and will meet the expectations of all stakeholders.

Regardless of the size or scope of the project, we will always be 100% committed.

https://www.vspsolutions.com.au/

SOURCE: EYEfi Group Technologies Inc.