EYEfi Develops Geospatial and Location Tracking Solution for Drone Market

• Spatial tracking uses EYEfi's SPARC technology onboard a drone's sensors and cameras or in the drone's control device
• Real-time, covert geo-targeting application without the use of triangulation, internet or post processing

TORONTO, ON / ACCESSWIRE / March 30, 2022 / EYEfi Group Technologies Inc. (CSE:EGTI)(OTC PINK:EGTTF) ("EYEfi") is pleased to announce that EYEfi has created a geospatial and location tracking solution that can track a drone's precise location.

SPARC uses a set of patented specialized algorithms and a spatial database that runs either on the drone or in the flight control device such as a laptop or custom controller making it portable and lightweight and operable without internet connectivity. If there is internet connectivity, then the live geo-targets such as a specific location, a fire front, a landmark etc can also be shared with colleagues, authorities and others via EYEfi Cloud.

SPARC can identify the geo-location of anything that can be seen in the real world, simply by pointing a camera at it, in real-time and over long distances. The technology can be utilized using cameras on fixed, mobile, airborne and Smartphone devices.

SPARC unlocks entirely new capabilities for UAV and drone operators by strengthening aircraft management systems and informing ground personnel with real-time long-distance intelligence gathering and situational awareness. The technology can be used in a wide range of government and industry applications, such as emergency management, incident response, asset and infrastructure management, search and rescue operations, and any other use-case requiring real-time air-to-ground geo-target information.

EYEfi CEO Simon Langdon recently visited the US demonstrating EYEfi's technology to drone manufacturers and said "We are excited by the prospects for the use of EYEfi's technology in drones and unmanned vehicles, and are developing several opportunities in the US with manufacturers".

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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

For more information contact:

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.