Intrinsyc Technologies Corporation Receives Court Approval For Arrangement With Lantronix, Inc.

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VANCOUVER, British Columbia, Jan. 13, 2020 (GLOBE NEWSWIRE) -- Intrinsyc Technologies Corporation (TSX: ITC and OTCQX: ISYRF) (“Intrinsyc” or the “Company”), is pleased to announce that the Supreme Court of British Columbia granted a final order on January 8, 2020 approving its previously announced plan of arrangement, pursuant to which Lantronix, Inc. (NASDAQ: LTRX) (“Lantronix”) will acquire all of the issued and outstanding common shares of Intrinsyc (“Common Shares”) in a cash and share transaction valued at approximately US$27 million (collectively, the “Transaction”). Lantronix, Inc. is a global provider of secure data access and management solutions for Internet of Things (IoT) assets. This press release contains statements which, to the extent that they are not recitations of historical fact, may constitute forward-looking information under applicable Canadian securities legislation that involve risks and uncertainties. Persons reading this press release are cautioned that such statements or information are only predictions, and that the Company’s actual future results or performance may be materially different. Some of the specific forward-looking information referred to in this press release includes, but is not limited to: the timing of the closing of the Transaction.

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