ICEsoft Announces Q3 2020 Financial Results. Voyent Alert!, Expanded to 162 Municipalities

Calgary, Alberta--(Newsfile Corp. - November 25, 2020) - ICEsoft Technologies Canada Corp. (CSE: ISFT) (the "Corporation" or the "Company" or "ICEsoft") is pleased to announce its consolidated financial results for the three and nine months ended September 30, 2020 and 2019. Detailed results and Management's discussion and analysis are now available on SEDAR.

Annual highlights are as follows:

• ICEsoft's Voyent Alert! service is now used by 162 Canadian municipalities representing a servable population of approximately 980,000 citizens
• The Company continues to deploy capital to accelerate Voyent Alert! sales traction
• ICEsoft continues to operate with a burn of approximately $60,000 CAD per month and remains well positioned with cash reserves to maximize growth of the Voyent Alert! service.

"The onset of COVID-19 has underscored the need for community-based communication services," stated Brian McKinney, President and CEO. "While legacy product sales have experienced a negative impact due to the pandemic, we still onboarded 28 new communities this quarter in association with our Voyent Alert! Service, up nearly 200% from the same period last year. Year over year renewals for the service continue to track at 100%, reaffirming the service's value proposition to communities large and small."

About ICEsoft Technologies Canada Corp.:

ICEsoft Technologies Canada Corp. is a software as a service ("SaaS") company. ICEsoft's current software, which is available as freeware with a pay to use version, is used by some 150,000 developers, 20,000 companies, and some 400 paying customers.

For more information, please contact:

Brian McKinney
Chief Executive Officer
Tel: 403-663-3320

Forward-Looking Information Advisory

Certain information in this press release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the Corporate Changes, Private Placement and shares for debt transactions, assumptions about future economic conditions and courses of action, and the Company's beliefs, plans, expectations, anticipations, estimates and intentions. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this material change report describes the Company's expectations as of the date of this news release and accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/68967

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