FIRAN TECHNOLOGY GROUP CORPORATION ('FTG' OR 'THE CORPORATION') ANNOUNCES FIRST QUARTER 2020 FINANCIAL RESULTS

TORONTO, ONTARIO - (April 8, 2020) - Firan Technology Group Corporation (TSX: FTG) today announced financial results for the first quarter 2020.

• Ended Q1 2020 with over $51M in total backlog. Of this, over $30M is due in Q2 2020

• Generated $3.5M in cash in Q1 and ended the quarter with $5.2M in net cash on the balance sheet

• Included in the Q1 2020 net loss was a non-cash expense to reduce the intangible asset from an acquisition in 2016 due to increased market uncertainty going forward

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Firan Technology Group Corporation published this content on 08 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 April 2020 17:47:05 UTC