Internet of Things Announces Annual and Q1 Filings Update

TORONTO, June 29, 2020 /CNW/ - Internet of Things Inc. (TSX VENTURE: ITT) (OTC: INOTF) (FRANKFURT: 71T) ("ITT Inc." or the "Company"), a software and solutions provider in the artificial intelligence and industrial IoT markets, further it is press release of May 27, 2020, is providing an update on the status of the filing of its annual financial statements, including the accompanying management's discussion and analysis, and related CEO and CFO certifications for its financial year ended January 31, 2020 (the "Annual Filings"), and the filing of its interim financial statements, including the accompanying management's discussion and analysis, and related CEO and CFO certifications for the three-month period ended April 30, 2020 (the "Interim Filings").

On March 18, 2020, the Canadian Securities Administrators ("CSA") issued a notice stating that securities regulators will be providing coordinated relief consisting of a 45-day extension for certain periodic filings required to be made on or prior to June 1, 2020 as a result of the COVID-19 pandemic, which was further updated on May 20, 2020 to extend the relief for filings required to be made between June 2, 2020 and August 31, 2020.

The Company will be relying on this extension period due to delays experienced as a result of the COVID-19 pandemic with respect to the Annual Filings and the Interim Filings.

The Company continues to work diligently and expeditiously with its auditors to file the Annual Filings on or before July 15, 2020. In addition, the Company intends to file the Interim Filings on or before August 13, 2020.  In the interim, members of the Company's management and other insiders are subject to a trading black-out policy that reflects the principles in section 9 of National Policy 11-207.

The Company confirms that since the filing of its interim consolidated financial statements for the period ended October 31, 2019, there have been no material business developments other than those disclosed through news releases and filed under the Company's SEDAR profile at www.sedar.com

About Internet of Things Inc. (TSX VENTURE: ITT) (OTC: INOTF) (FRANKFURT: 71T): Internet of Things Inc. is a technology company which helps businesses and organizations make smarter decisions using advanced artificial intelligence, deep machine learning and data science techniques. Its Weather Telematics Inc. subsidiary uses patented air quality monitoring sensors to provide predictive weather risk information to the insurance, logistics, fleet management and public safety sectors. The Company's R&D division, AI Labs Inc., develops new products that solve real-world business problems. The joint venture with Commersive Solutions is developing innovative technologies for use in various public spaces, starting with the ThermalPass fever detection system. Based in Toronto, Canada, the Company also has a joint venture channel partnership with Shanghai New Hope Data Technology Co. Ltd.

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Cautionary and Forward-Looking Statements

Statements contained in this news release, which are not historical facts, are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results of the Company to differ materially from the conclusion, forecast or projection stated in such forward-looking statements. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.

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SOURCE Internet of Things Inc.