Interbit™ Provides an Update ON Citizenos Project with Xinova, Llc and Helix Applications Inc. Canada
INTERBIT™ PROVIDES AN UPDATE ON CITIZENOS PROJECT WITH
XINOVA, LLC AND HELIX APPLICATIONS INC.
Canada / London, UK July 22, 2019
INTERBIT LTD. (TSX Venture: IBIT) (the “Company”) is pleased to provide an update with
regards to the CitizenOS Project, which is a smart cities initiative it joined with Xinova, LLC
(“Xinova”) and Helix Applications Inc. (“Helix”). As described in the Company’s November 29,
2018 press release announcing it had joined the CitizenOS venture (the “Venture”), the InterbitTM
platform is expected to serve as the software platform upon which the CitizenOS Project will
provide new infrastructure and the latest Interbit of Things (IoT) technology solutions to cities and
state groups in a citizen privacy friendly manner.
The Venture has entered into a letter of intent with Tomo Spaces Inc. (“Tomo”), developer of
River Market, located in New Westminster, British Columbia, regarding collaboration in a pilot
project involving data analysis and the latest sensor technology. This project represents a
particularly exciting opportunity for the CitizenOS Project and represents the first customer for the
Venture. Launch of this project is subject to execution of more definitive documentation between
the Venture and Tomo, which the parties are currently working towards.
“Our team is excited to work with CitizenOS,” says Mark Shieh, Director of Tomo. “These new
tools will enable us to see in depth how people use River Market as a community hub. This new
way of understanding social interactions will help us cultivate more vibrant places.”
“As we develop the technical solutions that will deploy the CitizenOS Project at large scale, it is
important to demonstrate value and operating principles in a more managed smaller environment
first,” said Chal Davidson, Venture Manager for Xinova. “Partnering with Tomo in respect to its
River Market will be a wonderful opportunity for us. River Market is a microcosm of a city and
provides a controlled environment for our technology as we learn to help cities understand how
communities develop and make better decisions with their citizens.”
Scott Maxwell, COO of the Company added, “Projects, such as the one proposed with Tomo, will
allow the Company to receive the feedback and performance metrics it requires to advance its
development of the InterbitTM platform.”
The Venture also has ongoing discussions with a number of other groups and cities in Asia,
Europe and the United States.
ABOUT RIVER MARKET
Located in the heart of New Westminster, River Market offers more than 70,000 square feet of
shopping, eating and playing, all right next to the mighty Fraser River. Since 1892, New
Westminster has had a bustling market along the riverfront. First opened in 1985 as Westminster
Quay Public Market, this marketplace pioneered a food-led revitalization to become a hub for
community life. Today, it showcases 25 of British Columbia’s best independent restaurants,
shops, and schools all under one roof.
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ABOUT THE COMPANY
The Company is a technology platform provider listed on the TSX Venture Exchange and
operating from both Canada and the UK with offices in Calgary and London.
For further information please contact:
Dominic McCann, CEO
Phone: +1-778-834-8417
Email: [email protected]
Website: www.interbit.io
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this release are forward-looking statements, which include further
development of the Company’s business relationships and business and the timing, development,
launch and success of the Company’s technologies and products (including, without limitation,
successful development and commercialization of the Interbit TM platform, the timing, negotiation
and execution of more definitive documentation between the Venture and Tomo , the launch of
the pilot project with Tomo at its River Market facility, and other matters. Forward-looking
statements consist of statements that are not purely historical, including any statements regarding
beliefs, plans, expectations or intentions regarding the future. Such information can generally be
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Readers are cautioned not to place undue reliance on forward-looking statements, as there can
be no assurance that the plans, intentions or expectations upon which they are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown
risks and uncertainties, both general and specific, that contribute to the possibility that the
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These assumptions, risks and uncertainties include, among other things, the state of the economy
in general and capital markets in particular, the development of competitive technologies, the
marketplace acceptance of the Company’s technologies and products, as well as those risk
factors discussed or referred to in the Company's annual Management's Discussion and Analysis
for the year ended December 31, 2018 available at www.sedar.com, many of which are beyond
the control of the Company. Forward-looking statements contained in this press release are
expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this
press release. Except as required by law, the Company disclaims any intention and assumes no
obligation to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. Additionally, the Company undertakes no obligation to
comment on the expectations of, or statements made by, third parties in respect of the matters
discussed above.
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