IMEX IMEX Systems Inc

Imex Systems Inc. ("Imex" or the "Company") (TSX VENTURE:IMEX), a software solution provider to Governments, Municipalities and Public Authorities, is pleased to announce the following update to its business operations.

Board of Directors and Management

As previously announced, Effective March 1, 2018, Kris Parthiban has assumed the position as Interim President and CEO, as the resignation of Damodar Arapakota as CEO and from the Board of Imex Systems Inc. has been accepted by the Board.

The Company is pleased to announce that Issa Nakhleh has rejoined the board of Imex effective March 15, 2018. Mr. Nakhleh has been a CFO of high growth technology companies, both public and private, over the last 15 years. He currently serves as the CFO and Director of Tuangru, a Vancouver based SaaS company and prior to that he served as the CFO of UrtheCast, an Earth Observation company. He has his CPA, CGA and MBA and specializes in financing, strategy, operations and corporate governance.

The other two directors are Andrew Lindzon and Kris Parthiban. With the addition of Issa Nakhleh to the board, Imex Systems Inc. is fully compliant with the Exchange Policy 3.1 "Directors, Officers, Other Insiders & Personnel and Corporate Governance" section 5.6.

Shibu Abraham has been appointed as the Company's Chief Financial Officer effective March 19, 2018.

Change of Auditor

The Company has recently changed its auditor to SRCO Professional Corporation. The Company expects that its audited financial statements for the year ending December 31, 2017 will be filed on or before April 30, 2018.

Annual General Meeting

The Company will be scheduling a shareholder meeting to be held at the end of June 2018.

Government of Botswana Business

The Company has entered into arbitration discussions with the Government of Botswana to settle the amounts billed to them under the previously announced $14 million contract. Both parties are working to resolve this situation in the near term for the approximately $5 million claim that the Company has previously disclosed as accounts receivable in its September 30, 2017 balance sheet.

Blockchain Opportunities

Further to the Company's press release on March 8, 2018 discussing blockchain opportunities, although the Company is investigating how such technologies may bolster the Company's existing service offerings, there is no assurance that the Company will undertake a blockchain opportunity, and if it does, it may constitute a Change in Business and may be subject to a halt in trading and Exchange review.

Performance Shares

The 2,500,000 performance shares which were previously issued by the Company have been cancelled as the requisite performance targets have not been achieved by ex-CEO of the Company. Following the cancellation of the performance shares, the Company has 17,754,301 common shares issued and outstanding.

Recommencement of Trading

The Company has applied to the TSX Venture Exchange to lift the suspension of trading of its shares. It is expected that the common shares of the Company will recommence trading on April 17, 2018.

About Imex Systems

Imex Systems Inc. is a Canadian software products and solution provider to Governments, Municipalities and Public Authorities in Canada and internationally. Imex primarily focuses on E-Government and the Smart Cities market that also include the integration to payment processing. The company helps public sector entities to provide "Any Time, Any Where, Any Device and Any Channel" convenience for citizens to access government services and help with digital transformation of government operations and streamline revenue. Imex's various product and service offerings include: iGov - a Digital Government Platform for all levels of governments, which provides all the pre-built components for building an effective Digital Government and supporting payment processing through multiple channels; iCity - a Smart City Solution; and miGov - a Mobile Government Framework.

Forward-Looking Statements

This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities laws. Forward looking information includes, but is not limited to, statements, projections and estimates with respect to the future revenue of the Company. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: the need for approvals from the relevant government body; future capital needs and uncertainty of additional financing; the competitive nature of the industry; the effects of product development and need for continued technology change; and those risks set out in the Company's public documents filed on www.sedar.com.

Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION

Imex Systems Inc. Kris Parthiban, Interim President and CEO 416 899 9720krisp@imexsystems.com