EYEfi to Launch World-First Geo-Pointing App - EYEfi SpatialEye

TORONTO, ON / ACCESSWIRE / September 29, 2022 / EYEfi Group Technologies Inc. (CSE:EGTI)(OTC PINK:EGTTF) ("EYEfi") is pleased to announce the public launch date of its SpatialEye App, powered by EYEfi's SPARC technology, which will be made available in a "consumer" beta version on the Apple App Store on November 1, 2022.

SpatialEye is a world-first application that leverages the company's proprietary and patented technology, EYEfi SPARC, and enables individuals to use their Smartphone as a geo-pointing device to determine the geographical location (GPS coordinates) of anything you can see in the field of view, using your Smartphone camera, irrespective of how far away the target is.

The application stores the geo-location results (still image, video, and other metadata) on the device and in EYEfi Cloud so it can be easily shared with your family, friends, or business colleagues. The App also pulls in other relevant geographical information such as google places, or any other available information from available third-party data sources, relevant to the target location being observed by the user.

SpatialEye also works off-line, as the algorithms and terrain models all run locally on the phone, even in places where there is no mobile network coverage. This unlocks a wide variety of consumer, industry, and government applications, such as determining the location of buildings, structures, landmarks, trails, surf beaches, distant towns, mountains, or even emergency events such as wildfires, floods, or traffic accidents - just to name a few. When users have mobile coverage, they can quickly share this information with their choice of recipient, and in the case of ‘emergency' class events, these can be forwarded to the applicable authorities.

EYEfi's CEO, Simon Langdon said "We are very excited to be releasing the consumer version of SpatialEye in Australia, off the back of the successful completion of our closed-beta trials conducted this year. This world-first technology puts the power of geo-pointing into the hands of individuals using only their Smartphone to determine the geographical location of anything they can see in the real-world. We also have plans to introduce a comprehensive list of in-app add-on features, which we will announce in a subsequent press release closer to the launch date, making the application more applicable to high-end users such as government authorities and emergency services".

EYEfi also has plans to enable the application to utilize camera feeds from airborne platforms such as drones and UAV's, which will unlock new sales opportunities for the technology.

About EYEfi in detail:

EYEfi is connecting the world's people and devices with the world around them, in real-time and in ways not previously possible.

EYEfi is a software and electronics engineering company that has developed, patented and commercialized an innovative spatial technology; spatial, predictive, approximation and radial convolution (SPARC) and an associated product suite, that turns sensors, cameras and smartphones (fixed, mobile, airborne, portable or handheld) into geo-target co-ordinate acquisition devices.

EYEfi has also developed IIoT sensor hardware and associated cloud software, as a second pillar within its product offering. EYEfi Cloud is a next generation cloud platform that provides a secure and centralized environment where customers can manage their EYEfi product deployments and applications.

On behalf of the board of directors of

EYEFI GROUP TECHNOLOGIES INC.

"Simon Langdon"
Simon Langdon, CEO

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THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE. NO SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

FORWARD LOOKING INFORMATION

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information.

The forward-looking statements are based on the reasonable assumptions, estimates, opinions and analyses of management made in light of its experience and perception of historical trends in the delivery of services through its Cloud, current conditions, expected future developments and other factors management of EYEfi believes are appropriate, relevant and reasonable in the circumstances at the date that such statements are made. All of these assumptions, estimates and opinions will necessarily be subject to change due to future events and other circumstances outside the control of EYEfi, including the effect of the Covid 19 virus. EYEfi has based the forward looking information on various material assumptions, including: despite the threat of the Covid 19 virus, EYEfi will sustain or increase profitability although on a slower projection then previously planned, and will be able to fund its operations with existing capital and projected revenue from its current agreements with its Channel Partners; EYEfi will be able to attract and retain key personnel in future if required; the general business, economic, financial market, regulatory and political conditions in which EYEfi operates will remain positive as its services can be provided in EYEfi's Cloud although deliver of its hardware may be affect by supply chain disruptions; that the general regulatory environment will not change in a manner adverse to the business of EYEfi; the tax treatment of EYEfi and its subsidiary will remain constant and EYEfi will not become subject to any material legal proceedings; the economy generally; competition, and anticipated and unanticipated costs.

Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors, assumptions and exclusions is not exhaustive.

The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Canadian Securities Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

SOURCE: EYEfi Group Technologies Inc.