Canuc Announces Internet of Things (IoT)
www.canucresources.ca
6939553 v6
FOR IMMEDIATE RELEASE
TSX
-
V: CDA | CNUCF |
WKN:
A14 ZX4
November 13
th
, 201
9
Shares Outstanding:
62,264,150
ISIN: CA1389093040
Canuc
Announces
Internet of Things
(IoT)
Partnership Agreement
Canuc
Resources Corporation (“
Canuc
” or the “
Company
”) (TSX
-
V
:
CDA)
is pleased to
announce the signing of a
Partnership Agreement
with
a
n Internet of Things
(IoT)
service provider
firm
(“IOT Firm”)
.
The
Partnership Agreement
is
structured
for Canuc
to become a
Strategic
Partner
to
the IOT Firm
with the
ability
to sell and promote
its IoT dedicated
network services and
its IoT technologies
throughout North America.
Under the
Partnership
Agreement
, Canuc
will receive a 20%
gross revenue share from
the IOT
Firm
for all sales
brought forward by Canu
c
.
Canuc is provided exclusiv
ity
for Oil and Gas
and
Mining business ap
p
lications
in the Provinces of Alberta
and
Saskatchewan
in Canada
,
and
in the
State of Texas, USA.
The IOT
Firm
will be responsible for providing equipment
, labor and
warranty
for
all sales.
The IOT Firm
is
a
privately
-
owned
technology company that specializes in private wireless
networks for
the
industrial Internet of Things.
The IOT Firm
has applications in many
industrial
areas such as
: Construction, Oil & Gas, Mining, Pipeline
Management
and
Utilities
. The IOT
Firm’s
purpose
-
built
industrial
IoT
network
utilizes A
rtificial Intelligence
for its
applications
and
deliver
s
mission critical data
to companies while
employing
enterprise grade security.
T
he World Economic Forum estimates that
“digital transformation in the oil and gas industry could
unlock approximately $1.6 trillion of value for the industry, its customers and wider society.”
Through the signing of this Partnership Agreement Canuc will
be able to
take part in the expansion
of the IoT market
in the Oil & Gas and Mining sectors in North America
and receives
exclusive
rights in key energy jurisdictions
.
A
recent article published by BIS
R
esearch
indicates that
I
oT
spending in the Oil & Gas industry
is
expected to grow to more than
a
$30 billion dollar
s
per year
in the next five to ten years
,
as
part of the Fourth Global Industrial Revolution.
In a world with aging infrastructure
, cost
pressures,
fluctuating margins and
regulatory scrutiny,
the need for
efficient and
capable maintenance technology
is becoming increasingly critical.
A
l
ack of data transparency results in accidents, rework
s
and unplanned downtime, which costs
facilities tens of billions of dollars each year.
Industrial
I
oT
can help leverage new sources of data
to improve maintenance processes and realize substantial cost
savings
and
is expected to generate
between $4 and $11
trillion USD in value over a
five
-
year
period
(Mackenzie Global Institute).
The
business opportunity
resulting from this Partnership is anticipated
to bring the p
otential
for
significant cash flow to
the company
. This
will
compliment existing
cash flow from energy assets
and support undiluted development of
Canuc
’s 100% owned
San Javier Silver
-
Gold Project.
www.canucresources.ca
6939553 v6
“
We are excited
for the company to
be
ventur
ing
into
the fast
-
growing
market fo
r IoT applications
,
and to
be able to
bring
I
ndustrial I
oT
applications
to
c
ompanies within our
resource
network.
Canuc
’s
exclusive
rights
for
energy and mining sector
IoT
applications
in key jurisd
ictions
in
North America
can
bring
meaningful
success
a
t a time when
these
technologies
are
revolutioniz
ing
extractive industries
with
productivity
, logistical
and
safety
improvements
”
s
tated Chris Berlet,
CEO of Canuc
.
About Canuc
Canuc is a junior resource company
holding
the San Javier Silver
-
Gold Project in Sonora State,
Mexico. The
C
ompany
generates cash flow from natural gas production
at its
MidTex Energy
Project
in Central West Texas,
USA
where Canuc has an interest in
eight
producing gas wells and
has rights for fur
ther in field developments.
Canuc also has exclusive rights
through a Partnership
Agreement
to sell
Industrial
IoT applications
and infrastructure
in
the Provinces of
Alberta and
Saskatchewan
,
Canada
and
in
the State of Texas, USA.
For further information please contact Canuc Resources Corporation:
(416) 548
–
9748
Disclaimer and Forward
-
Looking Statements
This news release cont
ains forward
-
looking statements within the meaning of applicable securities laws relating to
the Transaction, including statements regarding the terms and conditions of the Transaction. Readers are cautioned
not to place undue reliance on forward
-
looking s
tatements.
Actual results and developments may differ materially
from those contemplated by these statements depending on, among other things, the risk that the parties will not
proceed with the Transaction, that the ultimate terms of the Transaction will
differ from those currently contemplated,
and that the Transaction will not be successfully completed for any reason (including the failure to obtain the required
approvals or clearances from regulatory authorities, including the
Exchange
). If the Transact
ion is not completed,
and the Company continues as an independent entity, there is the risk that the announcement of the Transaction and
the dedication of substantial resources of the Company to the completion of the Transaction could have an adverse
impac
t on the Company’ s existing business and strategic relationships, operating results and business generally.
When
used in this news release, the words “estimate”. “project”, “anticipate”, “expect”, “intend” “believe”, “hope”,
“may” and similar expressions,
as well as “will”, “shall” and other indications of future tense, are intended to identify
forward
-
looking statements. The forward
-
looking statements are based on current expectations and apply only as of
the date on which they were made.
The statements in
this news release are made as of the date of this release.
Additional information identifying risks and uncertainties is contained in Canuc's filings with the Canadian securities
regulators, which are available at www.sedar.com.
Completion of the Transac
tion is subject to Exchange acceptance. There can be no assurance that the Transaction
will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the
Transaction, a
ny information released or received with respect to the Transaction may not be accurate or complete
and should not be relied upon.