News & Announcements

ICEsoft Technologies Canada Corp. Announces Year-end Financial Results

CALGARY, ALBERTA, April 26, 2017, ICEsoft Technologies Canada Corp. (the “Corporation” or the “Company” or “ICEsoft”) is pleased to announce its consolidated financial results for the year ended December 31, 2016. Detailed results and Management’s discussion and analysis are now available on SEDAR.

The highlights are as follows:

• ICEsoft continues to reduce its liabilities with a drop of 34% or $1.5M year over year;
• The legacy business products produced stable operating income of $417,366 in 2016;
• During the second half of 2016 ICEsoft took steps to reduce its general operating costs. On an annualized run rate, management believes the actions taken have reduced its annualized
  operating expenses more than $500,000 per year which will begin to present in the Q1 2017 financial statements;
• ICEsoft continues to generate commercial interest in its Voyent product with expected sales in
  2017.

“We are pleased with the balance sheet improvements ICEsoft has made and the demonstrated stability of our base business. We are actively engaging beta customers for our Voyent product with expected results in the coming months” stated Brian McKinney, President and CEO.

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:

David Gordon
Chief Financial Officer
dgordon@icesoft.com
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.