CALGARY, Dec. 30, 2016 /- Trakopolis IoT Corp. (“Trakopolis“) (TSXV:TRAK) a cloud based platform for interfacing mobile communications, software applications and location based services, today announced that it has cancelled 949,993 of its common shares issued into escrow (the “Bonus Shares“) in connection with the reverse takeover of Lateral Gold Corp. and Trakopolis’ going public transaction as the conditions to release of the Bonus Shares were not satisfied prior to the release deadline of December 31, 2016.
As a result of the cancellation, Trakopolis’ issued and outstanding common shares have been reduced to 23,194,630 from 24,144,623 on an undiluted basis.
Trakopolis provides business intelligence to organizations that require current data for equipment, devices, vehicles and people in remote locations. Trakopolis customers benefit from industry-leading data security through Microsoft Azure, powerful analytics and mobile access to their solution across leading mobile operating systems.
FOR FURTHER INFORMATION, PLEASE CONTACT
Brent Moore, President and Chief Executive Officer
Trakopolis IoT Corp.
Telephone: (403) 450-7854
Neither TSX Venture Exchange nor its Regulation 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.