NovaTeqni Provides Corporate Update

CALGARY, AB / ACCESSWIRE / April 11, 2016 / NovaTeqni Corporation (NTQ.V) ("NovaTeqni" or the "Company") is pleased to provide the following corporate update.

During the past year, many companies have seen a decrease in most aspects of their business. This is largely due to global economic conditions. NovaTeqni is not immune to these market conditions; however, the Company is adapting by developing a line of standard products which will enable the Company to move away from tender based revenues thereby smoothing out the unpredictable nature of the Company's cash flow.

To further NovaTeqni's goals of having more predictable revenues, the Company is developing new products for the Connected Home and Building Automation sector. NovaTeqni is leveraging its existing platforms and intellectual property making development reasonably quick and cost effective. The Company's expertise in biometrics is a key differentiator.

Marketing of the products has begun at various trade fairs and the Company has received positive feedback on its new line of products with interest being shown by several large retail industry chains.

The Company's first successful step towards the goal of launching standard products was the development and sale of the SMC 25 metering tablet in November 2015. NovaTeqni developed and delivered 6,500 of these robust weather proof units which are being used on the Vodacom network in South Africa. The SMC 25 metering tablet allows users to pre-pay for electricity, monitor energy consumption as well as use the tablet as a WiFi hot spot. Initial feedback has been positive and management believes we will see more orders of the SMC 25 metering tablet over the coming months.

The Company is also continuing its development of payment products. The development and certification process of any new payment device is always time consuming and expensive, however, the Company believes it will be well worth the effort. In the meantime, NovaTeqni has decided to brand previously certified payment hardware for use in the United States with the Company's payment platform.

NovaTeqni's secure cloud based payment platform was specifically developed for the United States market. Over the coming months the Company will introduce its biometrics based payments system as well as an EMV PCI Chip & PIN pay-at-the-table solution for restaurants. The project is well under way, and we expect to introduce the pay-at-the-table system to the market in the second half of 2016.

As previous announced on September 8, 2015, NovaTeqni won a contract to develop, supply and maintain an advanced biometrics enabled system for the country of Malawi. The system is currently undergoing acceptance testing after which time full roll out of the system will take place. The Company expects to complete the project in the next few months and anticipates that it will be able to sell the same system to other countries for a variety of industries.

A key strategy is leveraging NovaTeqni's skills and experience in the identity field to broaden our range of solutions in the United States. Due to the Company's broad experience in payments and biometrics, NovaTeqni is able to leverage existing intellectual property to suit a wide range of industries with limited development costs.

Gerhard Mynhardt, CEO of the Company, stated "The process of transitioning from a tender based business to more predictable revenues and cash flow is well underway. We look forward to expanding our product lines using our existing intellectual property and skill sets to create revenues from a variety of industries. At our core we will always be a payments and biometrics company, however we are excited about the rollout of a number of products which have resulted from a combination of both industries. We expect to complete a number of standard products during the year and anticipate generating revenues immediately upon rollout."

About NovaTeqni:

NovaTeqni is a technology based company that is focusing on biometrics and secure payment technologies. Using our management experience and developed intellectual property, we provide solutions and products for Voter Validation, Voter Registration, Financial Transactions and Biometric Solutions. NovaTeqni has corporate offices in Calgary, Alberta, Sales Offices in Norfolk, Virginia, Development in Johannesburg, South Africa and Manufacturing in Hong Kong. Using the NovaTeqni platform of products we can provide a client with custom solutions for their industry.

For further information please contact Gerhard Mynhardt by email at novateqni@gmail.com. Also, please visit our website: www.novateqni.com

Reader Advisory

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward looking statements and information concerning the timing related to the marketing and development of the Company's products. The forward-looking statements and information are based on certain key expectations and assumptions made by NovaTeqni, including expectations and assumptions concerning the productions and commercialization of its products. Although NovaTeqni believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because NovaTeqni can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, the ability of NovaTeqni to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the operating performance of NovaTeqni's assets and businesses, competitive factors in the technology industry, changes in laws and regulations affecting NovaTeqni's business, technological developments, whether NovaTeqni can continue to commercialize its products or whether demand for its products decreases of disappears, and general economic conditions. Additional information on risks and uncertainties and other factors that could affect NovaTeqni's operations or financial results are included in NovaTeqni's reports on file with the Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com).

Furthermore, any forward looking statements contained in this news release are made as of the date of this news release, and the company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

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 placed will occur. Such forward looking statements, although considered reasonable by management as of the date hereof, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE: NovaTeqni Corporation