Vancouver, Canada–(Newsfile Corp. – February 29, 2024) – Turnium Technology Group Inc. (TSXV: TTGI) (FSE: E48) (“Turnium” or “the Company“), an business chief in cloud native SD-WAN, centered on enhancing software efficiency for enterprises with protected and safe multi-site connectivity with out the burden of high-priced devoted bandwidth and {hardware}, proclaims its monetary outcomes for Fiscal Q1 2024. All monetary data is supplied in Canadian {dollars} until in any other case indicated.

These outcomes are being printed following the recent announcement of the Letter of Intent (LOI) to acquire Claritti Limited that can convey a whole bunch of Australian primarily based purchasers into the Turnium portfolio, driving development in cross-sell alternatives.

Ralph Garcea, Chairman of Turnium commented, “In the first quarter of fiscal 2024, the Turnium team continued its focus on expanding our channel partners, increasing monthly recurring revenue (MRR), and delivering superior product and service solutions to our global clientele. The Company is very well positioned to achieve cashflow positive results this year, as we continue to execute on our dual pronged growth strategy: First priority is continuing our organic growth initiatives, further expanding our Global Partnership Program which has onboarded 16 new agreements over the last 12 months. The second part of the growth strategy involves mergers and acquisitions, where we have two planned for this year. Our intention to acquire Claratti, discussed below, is one of these strategic acquisitions. We continue to evaluate other acquisitions as we look to scale our revenue over the next few years.”

The Consolidated Financial Statements and Management Discussion and Analysis (“MD&A”) for the primary fiscal quarter ended December 31, 2023, can be found on the Company’s SEDAR profile at www.sedar.com.

Fiscal First Quarter 2024 Highlights:

• Revenue within the first quarter elevated to $1.28 million, in comparison with $1.26 million within the earlier quarter;

• Gross Margin within the first quarter elevated to $0.89 million, in comparison with $0.87 million within the earlier quarter;

• Total Expenses within the first quarter decreased to $1.5 million, in comparison with $2.2 million within the earlier quarter;

• Net Loss within the first quarter decreased to ($0.62) million, in comparison with ($1.7) million within the earlier quarter;

• Number of Common Shares Outstanding (fundamental) on the finish of the primary quarter 2024 was 104,605,243.

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Fiscal Quarter Financial Highlights:

The Company’s key monetary outcomes for the three months ended December 31, 2023, are as follows:

Special Notes:

It is anticipated that revenues and bills could differ, maybe materially, from quarter to quarter attributable to a number of components, together with adjustments in product combine, prices associated to deliberate enhance in market share, international enlargement prices and ongoing company growth initiatives. Although revenues could fluctuate from quarter to quarter, and such fluctuations could also be materials, administration expects that revenues will enhance 12 months over 12 months.

There aren’t any recognized traits or seasonal impacts on the Company’s enterprise though seasonal traits could develop because the Company grows.

Subsequent Highlights to the Fiscal First Quarter:

February 28, 2024 – the Compnay introduced it has entered right into a non-binding Letter of Intent (LOI) to accumulate Claratti Limited (Claratti), a supplier of managed IT Solutions for enterprises masking areas similar to web and telecommunications companies, distant work and connectivity, cybersecurity and high-quality {hardware} and software program. Claratti is headquartered in Perth, Australia and serves a whole bunch of purchasers throughout Australia. Additionally, the Company additionally introduced that Mr. Derek Spratt will probably be retiring as CEO, efficient February 29, 2024, however will proceed as a Director. The Company has carried out an Office of the CEO consisting of Founder/Director Johan Arnet and Director Jim Lovie. All choices going ahead, till a everlasting alternative for the function of CEO has been appointed, will probably be a collaborative effort between the Chairman, Mr. Arnet and Mr. Lovie, with enter from the remainder of the Board. (Link)

February 20, 2024 – the Company and Wafaicloud announce partnership to drive cloud adoption throughout the Middle East. Wafai International Company Inc. of Saudi Arabia (WafaiCloud) has signed a multiyear time period and quantity dedication to companion with Turnium Technology Group Inc. Currently with 200 websites already in service, Wafai forecasts aggressive development in its Turnium SD-WAN pipeline which may develop income greater than 10 instances inside three years.

Additional Fiscal First Quarter 2024 Highlights:

November 29, 2023 – the Company has modified its auditor from Manning Elliott LLP to Kingston Ross Pasnak LLP, efficient November 28, 2023. The former auditor submitted a resignation letter because the auditor of the corporate, efficient November 27, 2023, and the board of administrators of the corporate appointed the successor auditor as the corporate’s auditor, efficient November 28, 2023, till the subsequent annual common assembly of the corporate.

November 29, 2023 – the Company introduced the appointment of Konstantin Lichtenwald because the Chief Financial Officer. Mr. Lichtenwald has over 16 years of finance and accounting expertise, together with company compliance, accounting and monetary administration, preliminary public choices, and reverse takeovers, offering company finance, valuation, taxation, monetary reporting, consulting and different accounting companies to each small companies and public firms.

October 24, 2023 – the Company’s board of administrators has licensed the grant of an combination of three.1 million incentive inventory choices to administrators, officers and workers of the corporate, at an train value of $0.10 per frequent share. The choices are exercisable for a five-year interval from the date of grant. Certain grants will probably be topic to vesting phrases in accordance with the phrases of the choice plan.

October 12, 2023 – The Company’s growth of Turnium SD-WAN model 7.0 is progressing towards completion. This new software program launch will revolutionize Turnium SD-WAN and enhance the use-cases and capabilities that Turnium Channel Partners can use to resolve frequent buyer points in at the moment’s cloud-based networked enterprise atmosphere. Version 7.x will allow Turnium to combine the quite a few international companions which have been introduced up to now, and others which are presently in our pipeline – as Turnium scales from 10,000+ strains presently to 100,000+ strains over the subsequent few years.

September 28, 2023 – The Company has signed a five-year OEM (unique gear producer) licensing settlement with a big know-how group and repair supplier in Southeast Asia. The new five-year OEM licensing settlement with the Southeast Asian service supplier, signed on July 18, 2023, will activate throughout Indonesia initially.

September 25, 2023 – At the Company’s shareholder assembly held on September 15, 2023, all resolutions have been handed. A complete of 54,836,337 frequent shares have been represented on the Meeting, representing roughly 54.9% of the frequent shares issued and excellent as of the file date.

September 12, 2023 – SDWAN & SASE Solutions Ltd. has joined the Turnium Technology Group international companion program to allow it to license, package deal and bundle Turnium’s SD-WAN software program into SDWAN & SASE Solutions’ portfolio.

About Turnium Technology Group Inc.

Turnium Technology Group Inc. delivers its SD-WAN answer as a white label, disaggregated software program platform that OEM channel companions host, handle, model, and value. Turnium can be out there to Resellers as a Turnium-branded managed service. Turnium SD-WAN is bought by a channel companion program designed for Communications Service Providers, Internet and Managed Service Providers, System Integrators, and Value-Added Resellers.

For extra data, contact sales@ttgi.io, go to www.ttgi.io or observe us on Twitter @turnium.

About SD-WAN

SD-WAN is revolutionizing the networking and telecommunications business by abstracting safe, high-speed networking and community management from underlying bodily circuits. SD-WAN frees enterprises, small and medium companies, cloud and managed companies suppliers from the enterprise and value constraints imposed by conventional telecommunications firms.

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Turnium Contact:

Investor Relations: Bill Mitoulas, Email: investor.relations@ttgi.io, Telephone: +1 416-479-9547

Media inquiries: please e-mail media@ttgi.io.

Sales inquiries: please e-mail sales@ttgi.io

www.ttgi.io, www.turnium.com

CAUTIONARY NOTES

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that time period is outlined within the insurance policies of the TSXV) accepts accountability for the adequacy or accuracy of this launch.

Forward-Looking Information

This press launch accommodates “forward-looking information” inside the that means of relevant Canadian securities laws. Generally, forward-looking data could be recognized by way of forward-looking terminology similar to “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such phrases and phrases or state that sure acts, occasions or outcomes “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking data is topic to recognized and unknown dangers, uncertainties and different components that will trigger the precise outcomes, degree of exercise, efficiency or achievements of the Company, because the case could also be, to be materially totally different from these expressed or implied by such forward-looking data. Some of those dangers are described underneath the “Caution on Forward-Looking Information” part and “Risk Factors” part of the MD&A. Although the Company has tried to establish vital components that might trigger precise outcomes to vary materially from these contained in forward-looking data, there could also be different components that trigger outcomes to not be as anticipated, estimated or supposed. There could be no assurance that such data will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. Accordingly, readers shouldn’t place undue reliance on forward-looking data. Actual outcomes and developments could differ materially from these contemplated by these statements. The Company doesn’t undertake to replace any forward-looking data, besides in accordance with relevant securities legal guidelines.

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