TrackX Extends Partnership with Fortune 500 Insurance Company

• TrackX is the enterprise system of record for nearly 200,000 IT assets across 20 facilities
• TrackX consolidates 19 disparate server systems to a cloud environment
• Client projects 75% annual reduction in IT asset management costs with upgraded solution
• Solution upgrade delivers new features supporting additional expansion opportunities

DENVER, Sept. 29, 2021 (GLOBE NEWSWIRE) -- TrackX Holdings Inc. (TSXV:TKX), (OTC:TKXHF), (FSE:3TH) ("TrackX" or the "Company), a leading provider of real-time end-to-end asset tracing, tracking and collaboration solutions announced today that it has expanded its relationship with a U.S. Fortune 500 insurance company (the "Client") by completing an enterprise-wide upgrade of the TrackX Asset Management solution across 20 administrative facilities.

The Client, an award-winning 65-year-old business with the highest revenues of any insurance company in the United States, anticipates that this TrackX upgrade will save more than 75% in IT asset management expenses. Already tracking nearly 200,000 IT assets including desktops, laptops, and servers, this upgrade provides the Client additional configurability, security, scale, and system performance. TrackX Control Tower will now deliver multi-site analytics and expanded workflow capabilities while the consolidation of 19 on-premises server systems to a cloud environment (Microsoft Azure) facilitates centralized administration of the IoT network responsible for tracking the growing number of enterprise assets. This upgraded asset management solution delivers a significant reduction in IT support costs and a lengthy list of new features and capabilities which will accommodate expansion opportunities down the road.

"This Client upgrade is yet another example where TrackX has delivered demonstrable ROI to our customer," said Tim Harvie, CEO of TrackX. "Our platform is built to scale across an organization. As a result, we were able to migrate all the TrackX IoT servers to a cloud environment, reducing costs, driving centralized administration, and creating improved operational efficiency. In today's environment, organizations are seeking ways to manage their IT infrastructure without the need to have support personnel on site at every facility. The implementation of this TrackX solution upgrade will help our Client achieve that goal."

About TrackX

TrackX, Inc. (TSX.V: TKX), based in Denver, Colorado, is the SaaS-based enterprise tracing, tracking & collaboration solution that leading brands trust to achieve more sustainable and better performing supply chains. TrackX solutions are built on an enterprise scalable and fully customizable platform that leverages a broad array of RFID, IoT (Internet of Things) and Sensor Technologies to provide item level visibility to customers across a broad array of industries, including food, beverage, brewery, automotive, retail, financial services, technology, and government. For more information, visit www.trackx.com.

For more information, please contact:

Marc Spezialy, TrackX Holdings Inc.
[email protected]
303-325-7300

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 few 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.