Globalive Technology has completed a US$235,000 investment in Civic Resource Group
International (CivicConnect), following an earlier investment of
US$350,000 in Q3 2019.
TORONTO, Feb. 24, 2020 /CNW/ - Globalive Technology
Inc. (TSX-V: LIVE) (the "Company"), a technology company based in
Toronto, Ontario, has completed a
US$235,000 investment in Civic
Resource Group International (d/b/a "CivicConnect"). This latest
investment follows an earlier investment of US$350,000 made in August
2019 and the acquisition of an 11% equity interest in
CivicConnect in June 2018.
CivicConnect is a technology company providing government
agencies and strategic partners with an integrated platform of
technologies and products necessary to increase efficiencies and
drive connected solutions for smarter cities, including mobile and
web-based applications. Its principal solution, the CivicConnect
platform, is a cloud-based data management platform that enables
the rapid deployment of dynamic mobile and web systems for a
variety of government-run organizations, including transportation,
travel and tourism, arts and recreation, water and energy
management services, and regional economic development. It connects
and integrates structured public data sources, commercial data
sources and unstructured data sources providing powerful backend
business intelligence across unlimited outlets and devices.
"CivicConnect continues to make strides towards its goal of
fulfilling the promise of artificial intelligence and the
Internet-of-Things in the world of urban infrastructure, urban
mobility and smarter cities," said Anthony
Lacavera, Founder and Chief Executive Officer of the
Company. "We are impressed with the progress and the strategic
partnerships that CivicConnect has made and we are pleased to
continue to support them as they push to expand the scope of their
offerings into exciting new verticals."
About CivicConnect
CivicConnect is one of the world's leading providers of digital
egGovernment solutions. CivicConnect provides cloud-based solutions
that touch every facet of citizens' lives. Since 2000, CivicConnect
has been "fulfilling the promise of technology™" for clients in the
broad public sector, helping them to harness digital advances to
effectively connect with their target audiences. By leveraging the
award-winning CivicConnect™ platform and deep domain expertise,
CivicConnect has delivered impactful, engaging and cutting-edge
solutions that facilitate openness, transparency and efficient
service delivery for external and internal users alike.
CivicConnect is a new breed of company with a new approach,
blending the best of technology, design and communications in the
digital age. For more information, visit the company's website at
www.civicconnect.com or contact CivicConnect
at info@civicresource.com
About Globalive Technology Inc.
Globalive Technology is a next generation software company and
venture partner developing innovative solutions to disrupt
traditional industries by leveraging artificial intelligence and
machine learning technology stacks, with a particular focus on
delivering innovative payment, billing and credit solutions.
Globalive Technology is controlled by Globalive Capital Inc., which
has founded and co-founded 12 businesses over the past 20 years
with six successful exits ranging from $10M to $1.3B
USD. It has also made over 100 venture investments and has over 45
technology companies in its portfolio. For more information,
visit www.globalivetech.com.
For media inquiries:
Rob Moysey, Communications Manager,
Globalive
Media@globalivetech.com
For investor inquiries:
Simon Lockie
Chief Corporate Officer
1-647-977-2727
InvestorRelations@globalivetech.com
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release contains forward-looking statements
relating to the Company, its investments in CivicConnect, the
performance of the CivicConnect platform and the scope of any
potential expansion by CivicConnect into new verticals. Such
forward-looking statements are identified by terms such as
"continue to", "push to" and similar expressions. All
statements, other than statements of historical fact included in
this release, including those noted above, are forward-looking
statements that involve risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's expectations
include a breakdown in the Company's relationship with CivicConnect
or in the relationships between CivicConnect and its other
strategic partners, difficulties or delays in developing new
functionality or expanding on existing functionality in the
CivicConnect technology platforms, CivicConnect or its technology
platforms not performing as expected, third parties not using the
CivicConnect technology platforms as expected, competitors in
existing or potential new market segments, economic conditions not
making the CivicConnect technology platforms as attractive as
originally anticipated, an unexpected change in the funds and
assets available to repay the Company's investments, a change in
the business or strategic plan of CivicConnect and other risks as
set out in the Company's Filing Statement available on its SEDAR
page at www.sedar.com.
The reader is cautioned that assumptions used in the
preparation of any forward-looking information may prove to be
incorrect. Events or circumstances may cause actual results to
differ materially from those predicted as a result of numerous
known and unknown risks, uncertainties, and other
factors, many of which are beyond the control of the Company.
The Company cannot guarantee that any of the forward-looking
statements contained in this press release will occur as disclosed
herein or at all. The reader is cautioned not to place undue
reliance on any forward-looking information.
Such information, although considered reasonable by
management at the time of preparation, may prove to be
incorrect and actual results may differ materially from those
anticipated. Forward-looking statements contained in this news
release are expressly qualified by this cautionary statement. The
forward-looking statements contained in this news release are made
as of the date of this news release and the Company will only
update or revise publicly the included forward-looking statements
as expressly required by Canadian securities law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Globalive Technology
