Universal PropTech Announces Agreements to Install Delta-X Trust Units at Retirement Home and Sports and School Facility
Toronto, Ontario--(Newsfile Corp. - December 22, 2020) - Universal PropTech Inc. (TSXV: UPI) ("UPI" or "the Company") is pleased to announce agreements to install Delta-X Trust units in a Vaughan retirement home, and a sports and school complex.
As previously announced in a November 23, 2020 press release, UPI entered into an agreement with the Delta-X Group to test the Delta-X Trust proprietary face and temperature recognition software technology, with clients across Canada. To this end, UPI has entered into agreements with UniversalCare Canada Inc. to install Delta-X unit within its Richview Retirement Residence facility, and with Mentana Group Inc. to install unit within their Vaughan Sports Village facility.
"The Company is pleased to be able to deploy the Delta-X Trust units at the Richview Retirement Residence, a premier Independent and Assisted Living home, and Sports Village, a multi-rink and school complex," stated UPI CEO Chris Hazelton. "The Company and each of these facilities will scope out the unit protocols over the coming weeks to ensure the units provide additional security and protection for users of the facilities, and the Company expects installation to be completed in coming weeks. Seniors homes, schools and other institutional facilities are among the highest risk facilities to prevent the spread of COVID-19, and we are pleased that we can be part of the solution."
COVID-19 has infected more than 485,000 people in Canada with over 13,800 deaths. While the Canadian Government expects to vaccinate the majority of Canadians by the end of 2021, it is still unclear as to the length of time that vaccines will protect Canadians. Technology such as Delta-X Trust can be a key tool to manage the flow of people in and out of high traffic public and private facilities, providing property managers with the protocols to improve the safety of the tenants and visitors to a site. These pilots are expected to provide the Company with better visibility regarding the interaction between key stakeholders, integration within building systems, and will inform wider go-to-market strategies. Other clients of the Company have expressed an interest to have Delta-X Trust units installed, and the Company will continue to refine the strategy to scale the opportunities.
New Technology - DELTA-X Trust
Delta-X™ Trust is a technology package that offers building administrators touchless facial recognition, temperature detection and multi-factor authentication (MFA) technology to improve hygiene and security standards in any public, high-risk or restricted-access environment. Delta-X™ Trust solutions can be applied to communities, office buildings, bus stations, airports, hotels, schools, hospitals, sports facilities and other public places with heavy traffic, helping to achieve intelligent security management and disease prevention.
About Universal PropTech Inc.
Universal PropTech Inc. (TSXV: UPI) is a leading building innovation company, selecting, integrating, deploying and maintaining PropTech in healthy buildings. As trusted advisors, we provide holistic evidence-driven solutions and services for building developers, owners and operators in Canada.
UPI operates through its wholly-owned subsidiary, VCI Controls Inc. ("VCI"), a leading supplier and integrator of PropTech healthy building solutions and services. VCI is an industry leader in the acquisition and deployment of intelligent building technology, including the integration of all building systems utilizing the latest in communications technologies and standards. VCI's business focuses on digital controls and mechanical services, performance monitoring, and energy efficiency solutions.
With headquarters in Toronto, Universal PropTech has offices across Canada including, Halifax, Montreal, and Ottawa. For more information, visit www.universalproptech.com
Certain statements in this press release are forward-looking statements. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Forward-looking statements, specifically those concerning future performance and other statements that are not historical fact, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange (the "Exchange") and securities regulators. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Trading in the securities of the Company should be considered highly speculative. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.
Neither the Exchange, nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Universal PropTech Inc.
Chief Executive Officer
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