TraceSafe Wins Singapore National Innovation Challenge

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VANCOUVER, BC / ACCESSWIRE / November 18, 2020 / Tracesafe Inc., ("TraceSafe") (CSE:TSF) a global leader in wearable safety tech, including contact tracing and quarantine management, is pleased to announce it has won the Singapore National Innovation Challenge ("NIC") award for "Digital Tool to Facilitate a COVID-Safe, Smart and Integrated Management of Worksite and Workforce." The NIC initiative provides support for the development, deployment and adoption of solutions to address nationwide challenges, as well as medium to long-term solutions for businesses to emerge stronger in the post-COVID environment. This award specifically acknowledges TraceSafe as a leader in these solutions.

This award will fast track TraceSafe projects in Singapore and advance funding up to SGD$300,000 immediately. In addition, it allows other industry participants to get up to 50% of their cost paid by IMDA to encourage rapid adoption subject to certain program parameters.

The challenge was sponsored by Boustead and co-funded by Singapore's Infocomm Media Development Authority (IMDA). It is a multi-step process to include Project Planning & Design Scoping, Conversational Mapping, Modelling & Ingestion, Platform Development, and Prototype Launch. This award will provide a platform and funding for TraceSafe to further develop and deploy their quarantine management and contact tracing solutions throughout Singapore. TraceSafe's selection for this award will bolster their reputation throughout the region as a leading option for businesses and local governments looking for quarantine management solutions as they work toward a post-COVID world.

Through NIC, challenge winners gain access to a diverse pool of problem solvers across a range of industries. Winners receive support and funding to deploy their solutions into the market swiftly and effectively. TraceSafe was specifically chosen because they provide a robust monitoring system both on-site and offsite to manage the workforce-readiness status and enable movement control on-site to minimise the risk exposure. Previous winners of this award have gone on to successfully deploy their solutions across industries, organize multiple successful rounds of investment, and gone on to see their solutions adopted widely and effectively on a commercial scale.

Executive Quote

"We are honored to have been selected for Singapore's National Innovation Challenge. As a leading provider in the field of contact tracing and quarantine management solutions, this is further validation of our team's outstanding work in the region", said TraceSafe's CEO Wayne Lloyd. "This is a testament to the high caliber of work our team has done in deploying and managing the TraceSafe suite of products in Singapore and will translate into tangible benefits for both TraceSafe and our customers."

About TraceSafe

TraceSafe is a full suite of real-time location management services and contact tracing solutions enabled through advanced low power bluetooth beacons and enterprise cloud management. TraceSafe's leading cloud management solution ensures both user privacy and comprehensive administrative control. TraceSafe's patented contact tracing bracelet has already been deployed in mission critical quarantine applications around the world in partnership with leading governments. In addition to their government work, TraceSafe is developing leading edge solutions for Enterprise, Healthcare, Education Government and large-scale venue management.

For further information, please contact:

Wayne Lloyd, CEO
+1 604 629-9975
wayne@tracesafe.io

Alan Tam, CFO
+1 604 377‐7575
alantamca@gmail.com

John Costigan
+1 604 620-8589
jcostigan@ecmbcapital.com

The Canadian Securities Exchange has in no way approved or disapproved the contents of this news release.

Statements in this news release may contain forward-looking statements that are based on TraceSafe's expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to expectations regarding the TraceSafe assets and their application, future business plans and relationships, future developments in respect of COVID-19 and solutions adopted in response to the virus, and the deployment and acceptance of the TraceSafe technology. Although TraceSafe believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict, including the suitability of our products to help businesses and governments reopen, competition, the spread or containment of COVID-19 and government responses thereto and general economic and market conditions. Therefore, outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and TraceSafe undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.

SOURCE: Tracesafe Inc.

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