Resignation of All Its External Directors From the Board of Directors & Resignation of External Audit Firm

MONTREAL, QC / ACCESSWIRE / October 2, 2023 / Alphinat Inc. (TSXV:NPA), a leading Canadian software low-code solution company for public sector listed on the TSX-V, formally announces the resignation of all its external directors from the board of directors including Eric David, Edwin Shepherdson, Sridhar Subramanian, Rachel Porteous. These decisions come during the increasingly challenging economic climate the company is facing and changed IT allocations by Canadian public sector that government focused software companies are presently navigating. The company's external audit firm RCGT has also resigned as a result of to date only receiving partial payment for their services as the company continues to manage cash.

The board acknowledges the substantial contributions of the departing directors and understands the weight of their decision given the current economic landscape. The company is taking prudent steps to ensure continuity in governance and will provide further updates on the progression of these measures in due course. We sincerely thank our investors, partners, and clients for their ongoing support during these transitional times.

While this is undoubtedly a significant transition for Alphinat Inc., we remain committed to steering the company through these turbulent times. We are initiating immediate steps to strengthen our governance and will communicate our way forward in due course. Our commitment to our shareholders, stakeholders, and the broader community remains unwavering, and we thank you for your continued trust and support.

About Alphinat

Alphinat is a FINTECH company which develops software for governments and is actively used to serve over 50 million end-users of federal, state, and municipal digital services. Alphinat employs Artificial Intelligence and reduces the need to code, allowing managers to quickly deploy online solutions that easily integrate with existing systems.

Recent advances include LIVEaiASSIST which entered BETA release in July 2023. LIVEaiASSIST greatly accelerates solution development for easy-to-use digital services for public sector. Alphinat is also adding AI generate testing and training modules,both high value upgrades, to better test and scale solutions while enhancing transfer & retention of knowledge within organizations.

At Alphinat, we enable people to easily develop and deploy secure digital service leveraging our SmartGuide low code development software. We provide those closest to an application's end-users with an easy-to-use no-code software development platform. At the same time, we're constantly working to reduce the need to code to make application development and maintenance simpler and less error prone.