Alphinat Announces a Loss of $53,538 for the Quarter Ended May 31, 2019

MONTREAL, July 22, 2019 (GLOBE NEWSWIRE) -- Alphinat Inc. (TSXV: NPA) announces a loss of $53,538 for the quarter ended May 31, 2019

During the quarter under review, Alphinat has focused its efforts on nurturing and expanding its distribution channels and on diversifying its software suite of high value SmartGuide® derivative offerings.

In order to accelerate future growth, Alphinat has continued to invest in new products based on SmartGuide along three major areas of focus:

During the quarter under review, the Company sold a new SmartGuide development license to an agency of a G7 country as well for professional services sales to three agencies of that federal government. and added to the company's backlog of professional services for a Canadian provincial client.

For the 3-month period ended May 31, 2019, the Company recorded total revenue of $305,278 compared to $248,667 for the same period in 2018 due mainly to a one-time increase in support and an increase in professional services while license sales saw a slight decrease.

Alphinat's financial statements and Management's Discussion and Analysis for the quarter ended May 31, 2019 can be found on SEDAR, at www.sedar.com.

About Alphinat

Alphinat provides online software self-service tools and workspaces that make it easy to deal with an organization. Its software suite simplifies, accelerates and improves interactions with all business constituents ? resulting in greater cost-effectiveness, customer satisfaction and employee productivity.

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

¹ Amandatm is a registered trade mark of CSCD Systems Inc.