ICEsoft Announces Q1 2023 Financial Results

Calgary, Alberta--(Newsfile Corp. - May 30, 2023) - ICEsoft Technologies Canada Corp. (CSE: ISFT) (the "Company" or "ICEsoft") is pleased to announce its consolidated financial results for the three months ended March 31, 2023 and 2022. Detailed results and management's discussion and analysis are now available on SEDAR.

Annual highlights are as follows:

• ICEsoft's new Voyent Alert! service is now used by over 450 Canadian municipalities
• The Company has realized 10 consecutive quarters of annualized revenue growth
• The Company realized Q1 revenues of $422,000 with a net operating loss of $172,000

"We continue to be excited about the Voyent Alert! Notification Service. Customer satisfaction remains exceptionally high, with churn rates below 4%," stated Brian McKinney, President and CEO. "Sales growth via client referrals continues to reduce sales cycle times and client acquisition costs."

About ICEsoft Technologies Canada Corp.:

ICEsoft Technologies Canada Corp. (CSE: ISFT) is a software as a service ("SaaS") company.

For more information, please contact:

Brian McKinney
Chief Executive Officer Tel: 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/168033