JEMTEC ANNOUNCES ONTARIO SOLGEN EXTENSION

VANCOUVER, BC, Feb. 1, 2022 /CNW/ – JEMTEC Inc. (TSXV: JTC) (the “Company”) is pleased to announce that the Ontario SOLGEN has decided to extend the present agreement beyond the original contracted date of March 31st 2022 for a period of 3 months to June 30, 2022.

In March 2017, Jemtec signed an agreement with Ontario Ministry of the Solicitor General (“SOLGEN”) to provide electronic monitoring equipment, technology, central monitoring software and technical services in support of its electronic Supervision Program. This agreement was for a four-year term with two optional extensions of up to one year each. In January 2021, SOLGEN sent the Company an extension agreement for signature outlining its plan to exercise its first one-year additional extension until March 31, 2022. In September 2021, SOLGEN put out an RFB for GPS technology and has indicated that the new program will replace the Supervision Program described above however a neither a supplier nor start-up date for the new program have been announced by SOLGEN.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward – looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

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 Jemtec Inc.

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