Alphinat Announces a Loss of $347,138 for Fiscal Year Ended August 31, 2018

MONTREAL, Dec. 28, 2018 (GLOBE NEWSWIRE) -- Alphinat Inc. (TSXV: NPA) announces a loss of $347,138 for the fiscal year ended August 31, 2018.

During fiscal 2018, Alphinat has concentrated most of its commercial efforts on its partnerships and accelerating sales in the municipal sector and with the Federal government of Canada. Our clients now include more then 30 municipalities, including a second city in California also recognized for being an important center for High Tech companies, 5 Provinces in Canada, 3 US States. Furthermore, SmartGuide continues being used by federal government agencies in 4 countries.

Our team has been involved in a variety of strategic projects with very short delivery delays, demonstrating once again the level of productivity that SmartGuide offers our clients and partners. At Alphinat, we are constantly looking for way of reducing the need to custom code and to maximize reusability of our clients' existing IT assets. SmartGuide allows the IT department to focus on the infrastructure, technical conventions, connections to existing systems and security while business subject matter experts expand on that foundation to convert their knowledge and know-how into citizen-centric online services. SmartGuide has many times demonstrated that it offers our clients and partners the lowest Total Cost of Ownership ("TCO") compared to custom coded solutions.

In order to accelerate future growth, Alphinat has invested in derivative solution development based on SmartGuide along three major areas of focus:

1. SmartGuide Portal Edition for Dynamics 365, which is now available, will optimize the way that clients create and deploy online services on top of Microsoft Dynamics 365. This offering is available in SaaS mode as well as on premises;
    
2. SmartGuide Municipal Cloud and aim at offering unparalleled productivity to municipalities. Municipalities can choose from a catalogue of pre-built applications, further accelerating the speed at which they can deploy citizen-centric services. These services include service requests, permitting and licensing as well as numerous other citizen-facing  services  and internal applications;
    
3. CIVIC Portal for Amanda is our newest derivative offering based on requirements of major cities and was developed with the tireless help of our one of our partnered client city, partners and dedicated employees to give enhanced flexibility to the CSDC Systems' Amanda Licensing, Permits and Compliance solutions. We look forward to more active deliveries in 2019 for this focused portal for the Amanda Licensing Permits and Compliance suite.

During 2018, our R&D team has continued to improve SmartGuide and SmartGuide derivative products in order to support the growing ambitions and demands of our clients and partners all while supporting our own strategic orientations.

For the 12-month period ended August 31, 2018, the Company recorded total revenue of $1,660,492 compared to $1,522,929 for the same period in 2017. The net earnings for fiscal 2018 amount to
$152,183 or $0.003 per (averaged outstanding) common share compared to net earnings of $48,012 or $0.001 per (averaged outstanding) common share in fiscal 2017.

Alphinat's financial statements and Management's Discussion and Analysis  for  the  period  ending August 31, 2018 can be found on SEDAR, at www.sedar.com.

The company also announces Pierre Paul Samson's resignation from the board of directors of Alphinat to commit all of his time to a new role in his principal company. "We wish to thank Pierre Paul for his years of service and sound advice, we wish her the best of success in his new endeavours." says Curtis Page, Alphinat CEO.

About Alphinat

At Alphinat, we are driven by the passion to make application development easy for everyone. It always struck us as odd that the people with the vision of how a finished application should look and behave would only be involved at the start of the process. After all, what better way to ensure a favourable outcome than to provide those closest to an application's end-users with a vested interest in its success throughout its development?

That's why we bring you new ways to empower the right people at the right time in the application development process. At the same time, we're constantly working to reduce the need to code in order to make application development and maintenance simpler and less error-prone.

So, whether you choose to develop your applications with the help of our low-code platform SmartGuide®, kickstart your project using one of our pre-built apps or engage us or one of our partners to do the work for you, we're here to help you deploy better applications in record time. Visit  https://www.alphinat.com for more information. We look forward to hearing from you.

Forward-looking statements

Certain statements in this document, including those which express management's expectations or estimations with regards to the Company's future  performance,  constitute  "forward-looking statements" as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward- looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. A number of factors could cause significant differences between actual results and those described in forward-looking statements. These include, but are not limited to, the Company's capacity to increase acceptance of its products on the market, and to penetrate new markets; the potential existence of defects or undetected problems in the Company's products; the Company's ability to manage its growth; the Company's ability to compete with others; potential commitments; maintaining the Company's intellectual property rights and defending against litigation putting those rights in question; the Company's reliance on the knowledge of its key personnel; and the Company's access to sufficient capital to finance its future needs. This is a partial and non-exhaustive list of factors that could bear on any of our forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to Alphinat or to any individual expressing them in the name of the Company. The Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances. Risks and uncertainties that bear on the Company are described in greater detail in the Company's Annual Report.

Neither 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.

For further information please contact:

Mr. Curtis Page
Chief Executive Officer Alphinat Inc.
(514) 398-9799 ext 225