Edmonton, Alberta--(Newsfile Corp. - October 10, 2025) - TrustBIX Inc. (TSXV: TBIX) ("TrustBIX" or the "Company") announces a strategic shift in its technology development and service delivery model. The Company has initiated the development of a modern livestock auction market software solution. It is expected that this new solution will be integrated with the Indoor Farm Management System ("IFMS"), recently acquired from Mindsgate Ltd. (as announced on October 3, 2025, and subject to TSX Venture Exchange ("TSXV") approval), within a unified technology framework, the TrustBIX Gate to Plate® platform ("G2P"), which is designed to deliver scalable digital solutions across agriculture and food production. The timing of this change allows the Company to focus on developing the new G2P platform in preparation for the active spring season in early 2026.
Following a review of its operations and recent acquisition, TrustBIX has identified challenges within its existing Auction Master Pro ("AMP") business, including the loss of key resources, long development cycles, and slower than expected revenue growth. In response, the Company is undertaking this strategic realignment to transition away from the AMP software and related direct installation and support services. Instead, the Company will focus on developing and licensing technology through strategic partners, enabling more efficient resource allocation, accelerating innovation, and generating SaaS (software as a service) revenue. This evolution modernizes the Company's software offerings and separates solution development from service delivery, allowing each function to scale independently and operate with greater focus.
To support this shift, TrustBIX, through its wholly owned subsidiary ViewTrak Technologies Inc., has entered into an agreement (the "Agreement") dated October 10, 2025, to assign and transfer its AMP support contracts (the "Support Contracts") to Cristel Baber DBA I.T. Group ("IT Group"). Under the Agreement, IT Group will assume all customer support and maintenance responsibilities. Customers with active annual Support Contracts will continue to receive services from IT Group at no additional cost for the remainder of their current term. IT Group will also make support available to customers without active contracts under its own service agreements. This ensures continuity of service for existing AMP customers while enabling TrustBIX to concentrate on building the next generation of agricultural technology.
Recurring and one-time revenue from AMP, including Support Contracts, represented approximately $1.1 million in each of the fiscal years ended September 30, 2025 (unaudited) and 2024. While this transition will reduce AMP-related revenue, TrustBIX anticipates offsetting this through sales of its indoor farming technology, supported by purchase orders and contracts totaling over $5 million, as previously announced on April 14 and September 12, 2024. Revenue from these contracts is expected to be recognized upon product delivery.
The assignment and transfer of the Support Contracts remain subject to regulatory approvals, including TSXV approval, and customary closing conditions and third-party consents, where applicable.
About TrustBIX (TSXV: TBIX)
TrustBIX is an agricultural technology company providing Gate to Plate® solutions to create a world where we trust more, waste less, and reward sustainable practices. Our award-winning technologies offer practical tools trusted by local and international agri-food organizations.
www.TrustBIX.com
Forward-Looking Information
This press release contains certain forward-looking information and reflects the Company's present assumptions regarding future events. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results, levels of activity, performance, and/or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.
Certain statements contained in this document constitute forward-looking statements and information within the meaning of the applicable Canadian securities legislation. When used in this document, the words "may", "would", "could", "should", "will", "intend", "plan", "propose", "anticipate", "believe", "forecast", "estimate", "expect" and similar expressions used by any of the Company's management, are intended to identify forward-looking statements. Such statements reflect the Company's internal projections, expectations, future growth, performance and business prospects and opportunities and are based on information currently available to the Company. Since they relate to the Company's current views with respect to future events, they are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company does not intend, and does not assume any obligation, to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments except as required by applicable securities legislation, regulations or policies.
FOR MORE INFORMATION, CONTACT:
Mr. Hubert Lau
President and CEO
Telephone: (780) 456-2207
Email: info@trustbix.com
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 of accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/270070
SOURCE: TrustBIX Inc.
