Shareholders of Intrinsyc Technologies Corporation Approve Sale of Company to Lantronix, Inc.
VANCOUVER, British Columbia, Dec. 30, 2019 (GLOBE NEWSWIRE) — Intrinsyc Technologies Corporation (TSX: ITC and OTCQX: ISYRF) (“Intrinsyc” or the “Company”), a leading provider of solutions for the development of embedded and Internet of Things (“IoT”) products, today announced that shareholders of Intrinsyc approved the sale of the Company (the “Transaction”) to Lantronix, Inc. at the Special Meeting of Shareholders held in Vancouver, British Columbia today. Detailed results of the vote are set out below:
Closing of the Transaction remains subject to Court approval as well as other customary closing conditions.About Intrinsyc Technologies CorporationIntrinsyc provides comprehensive product development services, as well as the industry’s highest-performance edge AI computing modules, to enable rapid commercialization of intelligent IoT products. Intrinsyc has successfully delivered over 1,400 client projects including sophisticated consumer and industrial IoT products like: robotics, connected cameras, smart displays, augmented reality, smart buildings, wearables, in-vehicle infotainment, and many others. Intrinsyc’s Open-Q™ System on Modules incorporate the industry’s most advanced processor technology from Qualcomm Technologies Inc., and help OEMs to rapidly bring industry leading products, with rich functionality and high performance, to market. Intrinsyc is publicly traded (TSX: ITC and OTCQX: ISYRF) and is headquartered in Vancouver, BC, Canada; with additional product development centers in Taipei, Taiwan, and Bangalore, India.CONTACT INFORMATION For more information, please contact:
George W. Reznik, CPA-CA, CBV, CFE
Chief Financial Officer
Intrinsyc Technologies Corporation
Email: Phone: +1-604-678-3734