DENVER and VANCOUVER, British Columbia, Nov. 10, 2021 (GLOBE NEWSWIRE) -- SPOTLITE360 IOT SOLUTIONS, INC. (“SpotLite360” or the “Company”) (CSE: LITE) (OTC: SPLTF) (Frankfurt: 87A) is pleased to announce that it has been contracted by E3 Service Group LLC (“E3”) to provide professional services relating to the development and integration of technologies including Internet-of-Things (“IoT”) sensors as well as corresponding software applications to gather and leverage data collected on a continuous basis. Established in 2012, E3 develops, designs, and builds cannabis cultivation facilities with a focus on optimally configuring heating, ventilation, and air conditioning (“HVAC”) infrastructure to create an ideal environment for growing cannabis plants. E3’s primary business objective in working with SpotLite360 is to harvest a wide range of data from cultivation facilities through IoT sensors, and incorporate such metrics into supply chain workflows which could be used for making business decisions. Following initial execution of this approach, SpotLite360 and E3 intend to expand the use of IoT sensors into more granular aspects of cannabis cultivation (e.g., irrigation effectiveness, seed performance, etc.).
E3 is a vendor partner of HVAC equipment suppliers such as Carrier, Honeywell, and Anden who have recently incorporated IoT sensors into their solution offerings. SpotLite360 intends to work directly with E3 to develop a technological infrastructure for the purpose of aggregating readings from IoT sensors made by a variety of providers, in addition to SpotLite360’s existing hardware integrations. By offering the option to consolidate these data feeds, E3 believes it can provide greater value to its clients who operate indoor cannabis cultivation facilities in several U.S. states including Colorado, Oklahoma, Michigan and Florida.
During the annual MJBizCon trade show in October 2021 in Las Vegas, NV, SpotLite360 co-sponsored a social function with E3, creating the opportunity for several connections to be made with cannabis industry players who can benefit from E3’s offerings, as well as the IoT data aggregation enhancements to be made available to E3 clients as a result of the development work to be undertaken by the Company.
James Greenwell, President and Chief Executive Officer of SpotLite360 commented, “The team behind E3 has been instrumental to the success of hundreds of cannabis cultivation sites across the United States. By taking an interdisciplinary approach to developing cultivation facilities for long-term success, E3 has an impressive engineering track record underpinned by an unparalleled familiarity with leading-edge technologies such as blockchain and IoT. We are excited to create efficiencies by consolidating data from a wide range of IoT sensor models while empowering E3’s clients to maximize the value they can derive from information they can effortlessly collect using the IoT sensors of their choice.”
Bryson Guyer, Founder of E3 commented, “Commercial-scale cannabis growing is a sophisticated discipline in which data about the environment where the crop is grown is an extremely valuable resource. Measuring attributes such as temperature and humidity is relatively easy with legacy instruments and technology, however IoT sensors are proving increasingly popular for automatically taking readings around the clock, thus allowing for an unparalleled level of insight. We look forward to working with SpotLite360 to create an advanced bespoke IoT solution for our clients, who will be able to benefit from exceptionally simplified data-harvesting capabilities as yet another defining feature of our world-class cultivation spaces.”
On behalf of the Board of Directors of the Company,
SpotLite360 IOT Solutions, Inc.
“James Greenwell”
James Greenwell, President
For more information about SpotLite360, please visit: http://spotlite360.com
Charles Lee
Investor Relations and Media Inquiries
+1 (720) 830-6120
ir@spotlite360.com
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About SpotLite360 IOT Solutions, Inc.
SpotLite360 is a logistics technologies solutions provider unlocking value, opportunities, and efficiencies for all participants in a supply chain. Building upon existing applications of IoT technologies, distributed ledgers, and machine learning, SpotLite360 endeavours to set new standards of transparency, integrity, and sustainability in the pharmaceutical, healthcare, and agriculture industries. As regulators across the globe begin to impose new tracing and accountability requirements for the protection of consumers (e.g., DSCSA and FSMA from the U.S. Food and Drug Administration), the need for reliable, cost-effective, and versatile tracking technology is expected to grow considerably. SpotLite360’s flagship SaaS solution has been engineered to seamlessly track the movement of a product by integrating with systems of all major stakeholders in a supply chain ranging from the raw materials to the hands of the end consumer. With a primary objective of onboarding new clients in 2021, SpotLite360 plans to explore innovative use cases for its proprietary stack of technologies which could transform logistics workflows in some of the world’s largest industries.
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation, with respect to the Company. The forward-looking information included in this news release is not based on historical facts, but rather on the expectations of the Company’s management regarding the future growth of the Resulting Issuer, its results of operations, performance, business prospects, and opportunities. This news release uses words such as “will”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions to identify forward-looking information. Such forward-looking information reflects the current beliefs of the Company’s management, based on information currently available to them.
This forward-looking information includes, among other things, statements relating to: the intentions, plans and future actions of the Company; statements relating to the business and future activities of the Company; anticipated developments in operations of the Company; market position, ability to compete, and future financial or operating performance of the Company; the timing and amount of funding required to execute the business plans of the Company; capital expenditures of the Company; the effect on the Company, of any changes to existing or new legislation or policy or government regulation; the length of time required to obtain permits, certifications and approvals; the availability of labour; estimated budgets; currency fluctuations; requirements for additional capital; limitations on insurance coverage; the timing and possible outcome of regulatory and permitting matters; goals; strategies; future growth; the adequacy of financial resources; our expectations regarding revenues, expenses and anticipated cash needs.
In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Forward-looking statements are based on certain assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions, and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and there can be no assurance that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties, and assumptions, prospective investors should not place undue reliance on these forward-looking statements. Whether actual results, performance, or achievements will conform to the expectations and predictions of the Company is subject to a number of known and unknown risks, uncertainties, assumptions, and other factors, including those listed in the Company's non-offering prospectus dated May 26, 2021.
If any of these risks or uncertainties materialize, or if assumptions underlying the forward-looking statements prove incorrect, actual results might vary materially from those anticipated in the forward-looking statements. Information contained in forward-looking statements in this news release is provided as of the date of this news release, and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information or future events or results, except to the extent required by applicable securities laws. Accordingly, potential investors should not place undue reliance on forward-looking statements or the information contained in those statements.
All of the forward-looking information contained in this news release is expressly qualified by the foregoing cautionary statements.
Statement Regarding Third-Party Investor Relations Firms
Disclosures relating to investor relations firms retained by SpotLite360 IOT Solutions, Inc. can be found under the Company's profile on http://sedar.com.
