EDY Eddy Smart Home Solutions Ltd

TORONTO, June 7, 2022 /CNW/ - Eddy Smart Home Solutions Ltd.'s (Eddy Solutions) (TSXV: EDY) announces today a service agreement with The Daniels Corporation (Daniels), a prominent Canadian real estate developer and builder. With a substantial focus on social, cultural, and economic well-being of residents in their buildings and communities, Daniels is adding intelligent leak protection into all their buildings via a strategic partnership with Eddy Solutions. This partnership includes more than 5,000 units across 13 projects. Based on Eddy's existing contracts of a similar nature, the contracted value is approximately $8MM.  

"Daniels history of creating and reinvigorating Canadian communities, focusing on fostering diversity, equity and inclusion, has made them an industry giant in the built space," said Travis Allan, CEO and President of Eddy Solutions. "Working with them to provide risk mitigation services targeting the potential risk of water damage to projects under construction and thereafter, giving them further tools to protect, detect, and control water in their buildings."

Eddy's system will be installed in all of Daniels projects, protecting the building and units with a comprehensive system of real-time monitoring, smart sensors, and remote and automatic shutoffs that identify and action issues in all areas of the building, including the risers, mechanical rooms, suites, and common areas.

"Water escape is a significant risk to buildings and residents in our industry," added Sam Tassone, Partner, The Daniels Corporation. "Resilient construction is a particular area of focus for us as a developer/builder. Water damage can cause significant project delays, losses, and require major rework in an industry already under stress. Eddy's intelligent system provides us with a holistic tool that not only allows us to mitigate and control water in our projects but offers insurance benefits as well."

Eddy's comprehensive system covers all parts of the building and all phases, including during construction through to operating buildings reducing the risk of water-related project delays during construction, and water damage in completed/occupied buildings.

Eddy Solutions is a North American provider and developer of smart residential and commercial water metering products and monitoring services, helping property owners protect, control, and conserve water usage by combining water sensing devices with behavioural learning software. For more details on Eddy's products or company information, please visit eddysolutions.com.

The Daniels Corporation (www.danielshomes.ca) is one of Canada's pre-eminent builders/developers, building more than 35,000 new homes across the Greater Toronto Area for over 38 years.  Daniels has been named the 2019 recipient of Tarion Warranty Corporation's Ernest Assaly Award and has been recognized as the 'Ontario High Rise Builder of the Year' numerous times. Among its many initiatives, Daniels was chosen to partner with Toronto Community Housing to revitalize 53 of the 69 acres in Toronto's Regent Park. Understanding that quality of life is created by much more than physical buildings, Daniels goes above and beyond to integrate building excellence with opportunities for social, cultural and economic well-being. Committed to community, Daniels offers innovative programs that help people achieve homeownership, and supports numerous charities and non-profit organizations.

This news release contains forward-looking statements within the meaning of applicable securities laws including, among others, statements concerning our objectives, our strategies to achieve those objectives, our performance, as well as statements with respect to management's beliefs, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance, or expectations that are not historical facts. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "outlook", "objective", "may", "will", "expect", "intent", "estimate", "anticipate", "believe", "should", "plans", or "continue", or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management.

These statements are not guarantees of future performance and are based on our estimates and assumptions that are subject to risks and uncertainties, including those described in our current MD&A under "Risk and Uncertainties" (a copy of which can be obtained at www.sedar.com), which could cause our actual results and performance to differ materially from the forward-looking statements contained in this news release.

All forward-looking statements in this news release are qualified by these cautionary statements. Except as required by applicable law, Eddy undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Eddy Smart Home Solutions Ltd.