Montreal – TheNewswire - August 18, 2022 – ATW Tech Inc. (The « Company » or « ATW Tech ») (TSXV:ATW) announces today its results for its quarter ending June 30, 2022.

• The Company maintained its revenues of $720k during the three-month periods ended June 30, 2022 and 2021; 

• Cost of sales totaled $653k for the three-month period ended June 30, 2022 compared to $665k for the same period in 2021; 

• Administrative expenses increased by $99k compared to the same period in 2021; 

• On June 21, 2022, the Company announced the signing of two letters of intent to acquire complementary technology companies in the fields of business intelligence, data analytics and public safety softwares powered by artificial intelligence (AI). 

Outlook

“The second quarter of fiscal 2022 was a transformational quarter on our go-to-market strategies, partnerships and expansion plans for the Company,” said Michel Guay, Founding President and Chief Executive Officer.

As expected, our partnership signed in April 2022 with the Neos Group is already demonstrating great synergy for commercial qualification with large-scale customers.

In pursuit of its efforts to identify and make strategic acquisitions, the Company has signed two letters of intent that will allow us to develop a complete suite of AI solutions to leverage data on a large scale, while maximizing the synergies of cross-selling and opening new international markets for ATW Tech.

In parallel with our due diligence, we have started our Pre Merger Integration “PMI” in twelve steps in order to optimize post-transaction efficiency.

“Despite the strong growth potential announced by these acquisitions, our share performance has unfortunately not followed. We see this as an opportunity to engage with our shareholders on the full potential of these strategics acquisitions and of ATW Tech as a whole,” said Michel Guay, Founding President and Chief Executive Officer.

The information presented above is a summary of the highlights. For additional information, please refer to the Company’s interim condensed consolidated financial statements and the Management’s Discussion and Analysis for the three-month and six-month periods ended June 30, 2022 at www.sedar.com.

Forward-Looking Statements and Disclaimer

Certain information in this press release may constitute “forward-looking” statements that involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, such information may include words such as “anticipate”, “estimate”, “may”, “will”, “expect”, “believe”, “plan”, “project” and other terminology. This information reflects current expectations regarding future events and operating performance and speak only as of the date of this press release. Except as may be required by law, we do not assume any obligation to update or revise any forward-looking information to reflect new events or circumstances.

Additional information regarding ATW Tech is available on SEDAR www.sedar.com

The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept no responsibility for the adequacy or accuracy of this release. The Plan remains subject to the approval of the TSX Venture Exchange.

ATW Tech’s Profile

ATW Tech (TSX-V: ATW) is a technology company, owner of several recognized technology platforms such as VoxTel, Option.vote and Semeon. VoxTel specializes in telephone billing and alternative payment solutions for fixed and mobile lines. Option.vote offers a customized multimethod voting system for unions, political parties, professional associations, and anyone looking for a secure way to reduce their voting costs and improve their participation rate. Semeon is a highly accurate and flexible text analysis platform for customer reviews and uses a unique combination of machine learning and natural language processing (NLP) to discover significant trends in customer reviews across all channels.

SOURCE :       

ATW TECH

Michel Guay

President, Founder, & CEO

Tel. : 844.298.5932 x 301

mguay@atwtech.com

www.atwtech.com