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ARway Corp
Symbol	ARWY
Shares Issued	26,786,867
Close 2023-07-04	C$ 0.60
Market Cap	C$ 16,072,120
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ARway releases version 2.5 of AR technology

2023-07-05 10:26 ET - News Release

Mr. Evan Gappelberg reports

ARWAY.AI'S SPATIAL COMPUTING PLATFORM LAUNCHES V2.5 WITH AI-ASSISTED AUGMENTED REALITY PATHFINDING EXPERIENCES

ARway Corp. has released a series of transformative updates with its version 2.5 (V2.5) of its AI (artificial intelligence)-powered augmented reality (AR) experience platform, including AI-assisted pathfinding catering to the demand for inclusive, accurate and user-friendly navigation solutions, new visually stunning navigation path styles, advanced creator tools, and more.

Watch a video showcasing ARway V2.5 on YouTube.

The revolutionary technology of ARway.ai continues to redefine indoor navigation, creating a seamless interplay of digital and physical environments. This update introduces sophisticated features that deliver significant advantages for a diverse range of industries, from retail and hospitality to corporate sectors and digital marketing agencies.

The highlights of the ARway V2.5 release are:

AI-assisted pathfinding: Enhanced turn-by-turn navigation now supports wheelchair-accessible and walkable routes, catering to the demand for inclusive, accurate and user-friendly navigation solutions.
Engaging path styles: Visually appealing path styles are introduced, expected to unlock new monetization opportunities and contribute to potential revenue growth.
Advanced creator tools: Creators gain more control with upgraded floor plan controls, advanced map search and the introduction of draft maps. Accuracy meters for monitoring localization accuracy during map creation are also part of this update.
Improved onboarding experience: New enriching onboarding tutorials for key features, making ARway's innovative technology more accessible to new users across various sectors.
Comprehensive location directory: A wider view of destinations is now available in the location directory, empowering businesses to highlight and monetize specific products or areas.

The release of V2.5 has far-reaching implications for ARway's business. As ARway continually evolves to meet the dynamic demands for AR applications, it fortifies its market position as a key player in the industry. The breadth of its feature offerings and the improvement in user experience positions ARway to attract and retain a larger customer base, driving the company's growth and profitability.

Moreover, the new features demonstrate ARway's technology leadership and continuing commitment to innovation. By staying ahead of the curve and setting new standards in the AR navigation space, ARway continues to differentiate itself in the IPIN (indoor positioning and indoor navigation) market.

As these enhancements are implemented and widely adopted across the vast range of industries ARway serves, the company anticipates a significant uptick in customer acquisition rates, which in turn will drive revenue growth and enhance shareholder value.

Board of directors and audit committee changes

The company would also like to announce the appointment of Nidhi Kumra, CA, CPA, to the board of directors and as the audit committee chair.

Ms. Kumra is an accounting and finance professional with over 15 years of experience in audit, finance and business operations. Ms. Kumra graduated with a bachelor of business administration from the Schulich School of Business. She has a chartered professional accountant/chartered accountant designation. Ms. Kumra started her career at KPMG, where she worked for over nine years, and quickly rose to become a senior manager in the audit and assurance practice, working as a team leader of large private and public client engagements. She also served as vice-president of finance for a global marketing agency, and helped to lead a national implementation of an end-to-end ERP (enterprise resource planning) system across the enterprise. Previous to that, Ms. Kumra led the finance team at Labatt Breweries, a subsidiary of AB InBev -- a Fortune 500 Company. She was a key strategic partner working on the transformation of the business through system implementations, designing corporate budgets and leading acquisition integrations. Most recently, Ms. Kumra has served as chief financial officer of entrepreneurial start-up companies in CPG (consumer packaged good), technology and marketing sectors. She has served as a public company CFO, where she helped the company grow through evaluation, analysis and acquisition of strategic investments. As a CFO, Ms. Kumra has helped aid companies through strategic acquisitions, obtaining debt and equity investments, liquidation processes, and sale processes as well. She is focused on growing companies by applying her strengths in strategy, accounting, finance and tax.

Jeff Dawley has resigned as a member of the board of directors and as the audit committee chair due to personal reasons, effective June 30, 2023. Mr. Dawley has confirmed that he has no disagreements with the board and there is no other matter relating to his resignation that needs to be brought to the attention of the company's shareholders. The company and the board of directors would like to thank Mr. Dawley for his contributions and wish him well in his future endeavours.