CALGARY, Alberta, July 22, 2019 (GLOBE NEWSWIRE) -- Helix Applications Inc. (HELX.V) (the “Company” or “Helix”) 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 Interbit Ltd. As described in the Company’s November 29, 2018 press release announcing it had joined the CitizenOS venture (the “Venture”), Helix is the technology and application developer for the Venture.
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 whether increased community engagement can have an impact on commerce. 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 and 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. The 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.”
“To be able to pilot smart city solutions to impact an organization like River Market is a unique opportunity,” said Mina Lux, Chief Product Officer of Helix and the Venture Manager for the Company. “It gives us the ability to accelerate the pace of our learning and make certain that the citizens are well-served by the new innovations.”
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.
Helix is a blockchain application and technologies developer, listed on the TSX Venture Exchange (TSX Venture: HELX). On October 26, 2018, Helix completed a “Change of Business” transaction to become a technology company and undertake its current business. Additional information about Helix and its “Change of Business” transaction is available on SEDAR at www.sedar.com under Helix’s profile.
For further information please contact Helix at:
Tom Thompson, CEO
c/o 82 Richmond Street East, Suite 200, Toronto, ON, M5C 1P1
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information set out in this news release constitutes forward-looking statements or information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. In particular, this news release contains forward-looking statements in respect of among other things, the successful development of blockchain applications by the Company, 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, and other information concerning the intentions, plans and future action of the Company and its technologies and products described herein. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the Company’s most recent management's discussion and analysis, a copy of which is filed on SEDAR at www.SEDAR.com, and readers are cautioned that the risk factors disclosed therein should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.
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