TrackX Hires Chief Operating Officer

DENVER, COLORADO--(Marketwired - Oct. 18, 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, is pleased to announce that Mr. Jason Read has joined the Company as Chief Operating Officer. Mr. Read is a supply-chain logistics veteran with more than 15 years in operations and deployment of customer facing solutions for market leading companies including The Descartes Systems Group, a global leader in supply-chain software-as-a-service (SaaS) solutions.

"As TrackX continues to experience significant growth, we are excited to bring Jason on as an individual who can lead the Company's operational goals and drive the expansion of our partner program in support of an increasing number of large enterprise customers," said TrackX President and CEO, Tim Harvie. "TrackX is receiving an enthusiastic response in the marketplace and our existing customers continue to add more locations and demand more capabilities at a rapid pace. The need to further accelerate our customer deployments and delivery of services is imminent."

Mr. Read will be driving the expansion of the Company's operational capabilities, enlisting additional resources, and executing strategy around its cloud-based asset tracking and inventory management platform, which provides unique, item level, visibility and powerful analytics for industrial, returnable and high value assets. His experience in the deployment of cloud-based applications delivered in a SaaS model is highly valuable as TrackX continues to grow its monthly recurring revenue.

Of his appointment, Mr. Read said, "TrackX has an unparalleled competitive advantage as an enterprise platform provider with significant potential in the supply-chain marketplace. I am eager to be a part of its future as it carves out a leadership position enabling the Industrial Internet of Things."

TrackX is accommodating its growing customer-base with an aggressive talent build-out of operational, technical and sales personnel at its head office in Denver, CO and its development office in Ontario, Canada. With Mr. Read based in Ontario's Kitchener-Waterloo region, the Company is expanding its presence in Canada and building a regional team to better service customers throughout North America.

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.