TORONTO, Ontario – January 23, 2024 / Globe Newswire / – NowVertical Group Inc. (“NowVertical” or the “Company”) (TSX-V: NOW) (OTCQB: NOWVF), a leading data analytics and AI solutions company, proudly announces a series of successful contract acquisitions with prominent government departments in Brazil through its A10 subsidiary. These contracts, amounting to approximately $1,500,000 US in total fixed-price value, signify NowVertical's commitment to delivering cutting-edge data and analytics solutions. These solutions leverage modern technologies to enhance the efficiency of critical government functions, integrating meaningful insights seamlessly into essential processes.
CEO Sandeep Mendiratta expressed the company's enthusiasm, stating, “Our successful collaborations with key government departments in Brazil mark a significant stride in NowVertical's mission to transform data into tangible value. These contracts underscore our commitment to delivering advanced data and analytics technology tailored to the unique needs of our government partners. As we embark on these ventures, we are poised to showcase the real-world impact of NowVertical's solutions and services, leveraging decades of public sector experience. We look forward to combining our expertise within the private and public sectors to provide critical services for the government."
NowVertical's A10 subsidiary secured a contract from the Regional Electoral Court of Minas Gerais (TRE-MG). Under this agreement, NowVertical will implement cataloging and data analysis tools on local servers to address the distinct requirements of the Electoral Justice system. This platform will be pivotal in analyzing electoral data and conducting audits for enhanced information security during restricted cloud access periods.
The Court of Justice of the State of Rondônia (TJRO) has also chosen NowVertical for a new contract. This project focuses on enabling and running the Qlik platform as a service, utilized for monitoring Monthly Productivity and Justice in Numbers. These statistical panels contribute to The National Council of Justice’s (“CNJ”) Quality Award and provide granular data for CNJ's National Judiciary Database.
Furthermore, the Department of Health of the State of Mato Grosso do Sul (SES-MS) has selected NowVertical for a comprehensive project. This initiative includes delivering tailored insights built on the Qlik Platform for various health-related initiatives, including the Vaccinometer, COVID-19, and Dengue Case Monitoring Panel, and a Transparency portal featuring public health data.
These contract wins reinforce NowVertical's role in enabling advanced data analytics tools tailored to the specific needs of government customers, solidifying the company's position as a trusted partner in transforming data into value for the government. NowVertical eagerly anticipates collaborating closely with government partners to achieve impactful results throughout these projects.
About NowVertical Group Inc.:
NowVertical Group is a Vertical Intelligence (VI) software and services provider that delivers vertically-specific data, technology, and artificial intelligence (AI) applications into private and public verticals globally. NOW’s proprietary solutions sit at the foundation of the modern enterprise by transforming AI investments into VI, enabling its customers to minimize their risk, accelerate the time to value, and reduce costs. NOW is rapidly growing organically and through targeted acquisitions. For more information about NOW, visit www.nowvertical.com.
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 release.
For further information, please contact:
Andre Garber, Co-founder, CDO and Board Member
IR@nowvertical.com
Glen Nelson, Investor Relations and Communications:
glen.nelson@nowvertical.com
t: (403) 763-9797
Cautionary Statement
This news release contains forward-looking information and forward-looking information within the meaning of applicable Canadian securities laws (together “forward-looking statements”) and are based on assumptions, expectations, estimates and projections as of the date of this press release. Forward-looking statements in this press release include, without limitation, the Company’s ability to execute on the government contracts, the results of the Company’s collaboration with government entities in Brazil, and the Company’s goals, strategies and growth plans. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies, including: the assumption that the Company will be able to execute on the government contracts, that the Company’s collaboration with government entities in Brazil will have impactful results, the Company will be able to negotiate and secure subsequent contracts from government partners, and that the risk factors noted below, collectively, do not have a material impact on the Company’s business. Forward-looking statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the forward-looking statements and the forward-looking statements are not guarantees of future performance. Forward-looking statements are qualified in their entirety by inherent risks and uncertainties, including: adverse market conditions; risks inherent in the data analytics and artificial intelligence sectors in general; regulatory and legislative changes; that future results may vary from historical results; inability to obtain any requisite future financing on suitable terms; any inability to realize the expected benefits and synergies of acquisitions; that market competition may affect the business, results and financial condition of the Company and other risk factors identified in documents filed by the Company under its profile at www.sedarplus.ca, including the Company’s managements discussion and analysis for the year ended December 31, 2022 dated April 28, 2023 and the prospectus supplement (including all documents incorporated by reference therein) dated February 22, 2023. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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