Trakopolis Provides Corporate Update

CALGARY, Feb. 15, 2017 / – Trakopolis IoT Corp. (TSXV: TRAK) (the “Company” or “Trakopolis”) is pleased to announce a number of positive developments for the Company.

  1. Trakopolis has received a grant of $164,000 from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP). The investment is earmarked for further enhancements of the Company’s Electronic Logbook (ELOG) hours of service software assets. Trakopolis is currently offering its ELOG software, which was acquired by the Company last November, to early adopters in the USA and Canada.  The U.S. Federal Motor Carrier Safety Administration (FMCSA) has mandated that all commercial vehicle drivers are required to maintain record keeping relating to hours of service. Over 6 million vehicles and drivers in Canada and the USA must be using an hours of service record keeping solution similar to Trakopolis’ ELOG solution by the end of 2019.
  2. The Company has also received $402,000 from the Canadian Scientific Research and Experimental Development (SR&ED) Tax Incentive Program. These funds will be used to reduce the Company’s current institutional debt facility. Combined with the principal repayment of $14,000 in the month of February, this will reduce the facility from approximately $2.3 M to approximately $1.75 M as at February 28th, 2017. Under the terms of the debt agreement, the Company will not be required to make any further principal repayments until November 2017.

    Brent Moore, CEO of Trakopolis, states, “These are both positive developments for Trakopolis that highlight our success securing non-dilutive government funding that has been allocated towards debt reduction and product enhancement while we focus on aggressively growing our sales programs.”

  3. The Company would also like to announce that the Board of Directors of Trakopolis has approved a change in the fiscal year-end from June 30th to December 31st. The change in the fiscal year-end will become effective on December 31st, 2016 and the Company will file results for the six-month period ending on that date. Thereafter, the Company will operate with a fiscal period beginning on January 1st and ending on December 31st.

About Trakopolis

Trakopolis is a Software as a Service (SaaS) company with proprietary, cloud based solutions for real time tracking, data analysis and management of corporate assets such as equipment, devices, vehicles and workers. The Company’s asset management platform works across a variety of networks and devices. Trakopolis has a diversified revenue stream from oil and gas, forestry, transportation, construction, rentals, urban services, mining, government and others.

FOR FURTHER INFORMATION, PLEASE CONTACT

Brent Moore, President and Chief Executive Officer
Trakopolis IoT Corp.
Telephone: (403) 450-7854
Email: bmoore@trakopolis.com

The Howard Group Inc.
Dave Burwell, Vice President
Tel: (403) 221-0915
Toll Free: 1-888-221-0915
Email: dave@howardgroupinc.com

NON-GAAP Financial Measures
“Closed opportunities” does not have any standardized meaning under with International Financial Reporting Standards (“IFRS”) and therefore may not be comparable to similar measures presented by other issuers. Closed opportunities are recognized upon shipment of the hardware and activation of the subscription and recorded in financial statements under hardware revenue and subscription revenue upon satisfaction of the accounting criteria for each revenue stream in accordance with (“IFRS”). The Company highlights closed opportunities as a key metric in measuring sales performance across all verticals.

Disclaimer for Forward-Looking Information
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the ongoing services of The Howard Group and the achievement of Trakopolis’ capital markets objectives. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to the success of The Howard Group and Trakopolis in achieving Trakopolis’ capital markets objectives, general business, economic and social uncertainties, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments, those additional risks set out in the Trakopolis’ public documents filed on SEDAR at www.sedar.com and other matters discussed in this news release. Although Trakopolis believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, Trakopolis disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

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.

Electra Meccanica Opens First Solo Intro Store in Downtown Vancouver

Electric Vehicle Maker Establishing Retail Footprint for SOLO Dealerships

Vancouver, British Columbia – February 15, 2017 – Electra Meccanica Vehicles Corp. (EMV), a Canadian-based designer and manufacturer of the SOLO, an all-electric single passenger vehicle developed to revolutionize the way people commute, opened its first retail Intro Store today in downtown Vancouver. Located in Bentall Centre, the Intro Store welcomes interested customers to learn more about the SOLO, talk with EMV representatives and place their reservations.

Jerry Kroll, founder and CEO of Electra Meccanica, explains, “Our stores will lay the groundwork for the distribution of the SOLO and serve as an introduction to the public of this unique, new clean energy vehicle. The stores also represent a blueprint for interested individuals who would like to own an Intro Store dealership.”

“Our business is expanding quickly and we will be working with our Intro Store operators to introduce new retail locations across North America and internationally,” added Mark West, President of Electra Meccanica. “Located in high foot-traffic locations, our Electra Meccanica stores are designed to engage and inform customers and show the benefits of driving electric.”

Developed by Electra Meccanica, the SOLO is the first all-electric, single-seat vehicle designed to reduce traffic congestion, air pollution and vehicle operating costs. The SOLO has been engineered as a perfect vehicle for the more than 80% of drivers who commute and drive less than 50 km/36 miles per day as a single occupant. It can comfortably achieve highway speeds and has a 160 km/100 mile range on a full charge, making it the ideal supplementary vehicle that is also fun to drive. Available in four stunning colors: Titanium Silver, Electric Red, Raven Black and Arctic White, the SOLO retails at CAD$19,888 (approx. USD$15,500) and with various incentives and rebates, it is the most affordable EV in the market.

More information on ownership or becoming a SOLO retailer can be found at http://electrameccanica.com. Interact with ElectraMeccanica at Facebook/EMVSolo, @ElectraMecc and view videos on YouTube at http://bit.ly/2bigEaF.

About Electra Meccanica Vehicles Corp.

Electra Meccanica strives to be the driving force behind sustainable transport by creating the compelling mass market, all-electric SOLO. The vehicle will make the urban commute more efficient, cost-effective and environmentally friendly. The SOLO’s futuristic design is powered by a 16.1 kWhs lithium ion battery and the drive system is tuned for higher speed and mobility. With a range of 160 kms (100 miles), and a top speed of 130 kms/h (80 mph), the SOLO delivers superior performance and spirited driving.

About Bentall Centre

Located at the centre of downtown Vancouver’s business district at 505 Burrard Street, Bentall Centre is one of the largest integrated office complexes in Canada, providing a first class working environment for many of Canada’s leading corporations. Few other developments have had a greater impact on the architectural appearance of Vancouver. Spanning over 1.5 million square feet, Bentall Centre offers four office towers and an expansive retail mall, complete with exterior waterfalls, reflecting pools and a multitude of wide, open spaces filled with native foliage and colourful planters.

With panoramic views over Burrard Inlet, Stanley Park and the North Shore Mountains, Bentall Centre is truly a city landmark. Combining superior office space with exceptional standards of service, it remains the choice for discerning tenants and the measure by which all others are judged.

CONTACT INFORMATION

Jeff Holland
Head of Media Relations
Electra Meccanica Vehicle Corp.
Tel. 562-640-1758
Email: JeffHolland@electrameccanica.com

Alexia Helgason
Director, Investor Relations
Tel. 604-728-4407
Email: alexia@electrameccanica.com

Electra Meccanica Vehicles Corp.
102 East First Avenue
Vancouver, BC Canada V5T 1A4

Safe Harbor Disclosure
Except for the statements of historical fact contained herein, the information presented in this news release constitutes “forward-looking statements” as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as “forward-looking statements”. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of activities, variations in the underlying assumptions associated with the estimation of activities, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. 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 contained in this news release and in any document referred to in this news release. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

LGC Capital Investee Company Melbana Energy Provides an Update on the Cuban Onshore Oil Block 9

Not For Distribution to U.S. News Wire Services or Dissemination In The United States

MONTREAL, Feb. 3, 2017 / – LGC Capital Ltd. (TSXV: QBA) (“LGC“) is pleased to announce that one of its portfolio companies, Australian listed Melbana Energy Limited (“Melbana”) (ASX: MAY), has issued a press release providing an update on its Cuban Block 9 onshore oil acreage.

Melbana stated the following in its press release:
“We are highly encouraged by the continued growth in the exploration potential of the Block 9 PSC. … Melbana is currently progressing plans for a potential accelerated initial drilling program of up to two exploration wells in Block 9, with a target of finalizing well proposals this quarter, with drilling potentially commencing approximately twelve months after commiting to such activity.”

Melbana’s press release dated February 1, 2017 is available on its web site at www.melbana.com, under “Recent Announcements”.

LGC holds approximately 13.7% of Melbana and is its largest shareholder.

Caution Regarding Press Releases
LGC has not made any independent inquiries as to the accuracy or completeness of the press release issued by Melbana Energy and LGC assumes no responsibility for the contents thereof. The press release issued by Melbana Energy refers to “prospective resources” in connection with that company’s onshore Block 9 PSC located along trend from the Varadero oil field. LGC assumes that such reference was made in accordance with applicable Australia regulations but is not able to so confirm. Further, LGC is not able to confirm whether applicable Australian regulations are equivalent to those in the Canadian Oil and Gas Evaluation (COGE) Handbook and National Instrument 51-101 (NI 51-101). The disclosure in the Melbana press release does not comply with NI 51-101 or the guidelines of the COGE Handbook. Investors are cautioned to take all of the foregoing into consideration when reading the press releases issued by LGC and by Melbana, particularly any references to “prospective resources”.

About LGC Capital

LGC Capital has significant investments and joint ventures in international companies with Cuban ties, that are well positioned to grow with the Cuban economy. Sectors include the following: Oil and Gas, Sports Management, Consulting, Travel & Tourism, Events, TV & Film Production, Agricultural, Renewable Energy and Import & Export.

Caution Regarding Press Releases
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information please contact:

Canada Contact:
Rafi Hazan, Secretary and Director
Tel.: (514) 839-7234

London Office Contact:
David Lenigas, Co-Chairman and Chief Executive Officer
Mazen Hadad, Co-Chairman
Anthony Samaha, Chief Financial Officer
Tel.: +44 (0) 20 7440 0640

Investor Relations Contact:
Dave Burwell
The Howard Group Inc.
Tel.: (403) 221-9015
Toll Free: 1-888-221-0915
Email: dave@howardgroupinc.com

LGC Capital’s Blue Sky Just Got a Little Brighter

In addition to holding a variety of interests in Cuba based businesses, LGC has substantial ownership in two energy exploration companies, one of which has issued a news release under the banner headline of 50% Upgrade to Exploration Potential in Melbana’s Cuba Acreage.

LGC has a 13.76% interest in Australian listed Melbana Energy (MAY), which announced results of a new assessment of the oil and gas exploration potential of the conventional onshore play known as Block 9.  

In its news release, Melbana included this first bullet point to catch the reader’s attention: Exploration potential of Block 9 upgraded by more than 50% to ~12 billion barrels of Oil-in-Place with Prospective Resources of 612 million barrels (unrisked Best Estimate, 100% basis)”.

Admittedly, high potential plays of this size take a considerable amount of time and money to develop. However, Melbana is looking to finalize well proposals by the end of this quarter and possibly be drilling within a year or so. The first target area is called Alameda.

The Alameda Prospect (formerly I Lead) is currently the highest ranked exploration target in Block 9 PSC. Alameda is a large structure located in the western part of Block 9 and is in a similar structural position to the Varadero field, the largest oil field in Cuba, approximately 35km away. Alameda has an estimated chance of discovery of 32% and recoverable volumes ranging from 3 – 214 million barrels, with a best estimate of 65 million barrels recoverable.”

Block 9 is certainly not virgin territory as it is surrounded by prolific producing areas.

Covering 2,380km2 onshore the north coast of Cuba, is in a proven hydrocarbon system with multiple producing fields within close proximity, including and the Majaguillar and San Anton fields immediately adjacent to Block 9 and the multi-billion barrel Varadero oil field. Block 9 contains the Motembo field, the first oil field discovered in Cuba.”

The bonus for LGC is that not only is it the single biggest shareholder in Melbana, but owns 15.4% of Petro Australis (private).

Melbana is prequalified as an onshore and shallow water operator in Cuba and was awarded a 100% interest in the Block 9 PSC on 3rd September 2015. Melbana has secured a 100% interest in Block 9, subject to a conditional 40% back-in option to be exercised no later than September 2017 held by Petro Australis Limited.

To read the detailed Melbana news release, click here.
To view Melbana’s corporate presentation, click here.

The TRAKOPOLIS Operational Update – A Bit More Colour

In the company’s update that was issued on Wednesday (February 1st), there were several positive developments noted that nudged our curiosity and prompted a conversation with management. Most certainly, this is not “inside” information, but it does provide somewhat more dimension as to the progress being made at TRAKOPOLIS.

The news release stated that four new salespeople had joined the team, two in Canada and one each in Texas and Pennsylvania. When it comes to Canada, one is in Ottawa and the other is in Atlantic Canada with the principle responsibility of supporting the company’s partnership with Bell Mobility and the new “Electronic Log Book” offering. Management is providing additional resources to this sales push because of its belief in the size of the prize. The release stated that this is the “first phase” of its growth expansion as it is adding more boots on the ground to its existing sales team.

On the U.S. side, the people now located in Texas and Pennsylvania are there to add weight to the launch of an offering that sees Honeywell’s new Wi-Fi enabled gas detector incorporating TRAKOPOLIS’ software technologies. Even as written in the recent report from Canaccord that placed TRAKOPOLIS on the firm’s Watch List, “the addressable market for this type of offering in North America alone could be 150 thousand units”. It’s very understandable why TRAK management is “enthused” in context of the market opportunity and the partnering with Honeywell that has the potential to greatly accelerate growth in the company’s recurring revenue stream.

The news release also stated that 1036 new devices (subscribers) were added through December and January representing 51 customers. Remembering that in the last corporate presentation TRAK had a subscriber base numbering eleven thousand, a nine percent increase to that base over the course of two months, especially as it was the holiday season, at least deserves an “attaboy.” Of the 51 customers mentioned, 25 were new names representing different verticals such as energy, mining, transportation, etc.

Management says that revenue will be recognized as hardware is shipped, installed and activated, which is ongoing.  

As we were about to end the phone conversation, management adeptly reminded us that this growth came on the heels of all the work required to complete the public listing in November, the four new salespeople were in training and not yet selling and the new product offerings played no role in the recent wins.

The first big target for TRAK is reaching 25 thousand subscribers and 500 customers, which management forecasts puts the company on a $10+ million annualized run rate.

To view news release, please click here.

Trakopolis IoT Corp. Provides Operational Update

CALGARY, Feb. 1, 2017  – Trakopolis IoT Corp. (TSXV: TRAK), is pleased to provide an operational update.

Since commencing trading on the TSX Venture Exchange (“TSXV“) on November 1st, 2016, the Company has executed the first phase of its accelerated growth plan that focuses on positions that will have an immediate impact on sales, subscriber and customer growth. This includes 4 additional sales members in Canada (2), Texas (1) and Pennsylvania (1).

Through December, 2016 and January, 2017 the Company has closed opportunities representing 1036 new devices to 51 customers. These sales were to a variety of verticals including construction, utilities, oil and gas, government, commercial services, transportation and forestry.

The Company continues to see strong interest in our products and services from our traditional offering and our new segments, connected gas detection and electronic driver log books.

Brent Moore, CEO of Trakopolis stated, “I am pleased with the speed and ability in which we were able to recruit and on-board new staff and have been very encouraged with operational results across the organization since completing our going public transaction on the TSXV.  Sales from new and existing customers, combined with the positive response to our new products and services confirm we are making strong progress in achieving our growth plan.”

About Trakopolis

Trakopolis is a Software as a Service (SaaS) company with proprietary, cloud based solutions for real time tracking, data analysis and management of corporate assets such as equipment, devices, vehicles and workers. The Company’s asset management platform works across a variety of networks and devices. Trakopolis has a diversified revenue stream from oil and gas, forestry, transportation, construction, rentals, urban services, mining, government and other.

FOR FURTHER INFORMATION, PLEASE CONTACT

Brent Moore, President and Chief Executive Officer
Trakopolis IoT Corp.
Telephone: (403) 450-7854
Email: bmoore@trakopolis.com

The Howard Group Inc.
Dave Burwell, Vice President
Tel: (403) 221-0915
Toll Free: 1-888-221-0915
Email: dave@howardgroupinc.com

NON-GAAP Financial Measures
“Closed opportunities” does not have any standardized meaning under with International Financial Reporting Standards (“IFRS”) and therefore may not be comparable to similar measures presented by other issuers. Closed opportunities are recognized upon shipment of the hardware and activation of the subscription and recorded in financial statements under hardware revenue and subscription revenue upon satisfaction of the accounting criteria for each revenue stream in accordance with (“IFRS”). The Company highlights closed opportunities as a key metric in measuring sales performance across all verticals.

Disclaimer for Forward-Looking Information
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the ongoing services of The Howard Group and the achievement of Trakopolis’ capital markets objectives. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to the success of The Howard Group and Trakopolis in achieving Trakopolis’ capital markets objectives, general business, economic and social uncertainties, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments, those additional risks set out in the Trakopolis’ public documents filed on SEDAR at www.sedar.com and other matters discussed in this news release. Although Trakopolis believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, Trakopolis disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

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.