2020-07-23
Novra Group Wins a $2.2M Order for a Major Radio Network
Winnipeg, MB – (Newsfile Corp. – July 21, 2020): Novra Technologies Inc. (“Novra”) (TSX-V: NVI) announced today that the Novra Group has received a new order valued at $2.2M for its new Audiocaster Pro, Novra Group’s next-generation of high-end audio receivers.
This is an initial order from a major North American radio network to acquire several hundred Audiocaster Pro professional audio receivers. It demonstrates the value of one of Novra Group’s powerful and flexible products to a market leader willing to commit to capital investment in uncertain times. The same customer earlier this year contracted a Novra Group company to upgrade their head-end network management systems. We anticipate that there will be follow-on orders for additional audio receivers as this client moves forward with refreshing equipment for the rest of the network.
This order is expected to be delivered between Q4 of 2020 and early 2021, given current global supply chain projections and schedules. The Novra Group companies continue to conduct business as usual within public health guidelines in their various locations, shipping products and delivering services to customers around the world.
The Audiocaster Pro is one of the new generation of products resulting from Novra’s considerable on-going R&D investment and commitment to develop leading products for the radio market. It features advanced functionalities that support sophisticated multichannel audio distribution, including:
- Reliable on-air signal verification of AM/FM broadcasts. This allows each receiver to monitor broadcasts to ensure that the audio is playing properly
- Internet distribution capabilities—works over satellite, internet connection, or a combination of both
- Expanded highly reliable onboard storage for “station-in-a-box operation”, so extensive content can be stored and scheduled for local playback with the reliability of RAID redundancy and hot-swap capabilities.
These advanced features help radio networks meet the evolving needs of their stations in an increasingly competitive landscape.
The Novra Group offers a full line of radio receivers, head-end equipment, and expert services designed to meet the technology needs of professional radio networks of any size and complexity. The Audiocaster Pro is the latest evolution of the high-end Novra Group audio products designed for large complex networks. The next-generation MAP receiver provides an ideal solution for medium-sized and smaller radio networks that want the flexibility to select from a wide range of powerful features today with the ability to expand in size and features over time as needed. The longstanding industry-favorite International Datacasting Corp. (IDC) STAR and SFX product lines continue to provide solid, proven performance to networks around the world, ranging in size from a few to many hundreds of stations.
Novra Group President and CEO Harris Liontas commented, “This order is very welcome news. It confirms that Novra Group provides the kind of business-critical technologies that keep customers continuing to make capital investments in our products—even in the current conditions. We appreciate this show of confidence in both our products today and our roadmap strategy going forward, as we continue to develop new products, capabilities, and technologies to meet customers’ current and future requirements.”
About the Novra Group:(Novra, TSX-V: NVI) The Novra Group of companies includes Novra Technologies, International Datacasting Corporation, and Wegener Communications. The companies in the group are known for a strong focus on applications—broadcast video and radio, digital cinema, digital signage, and highly reliable data communications—as well as a strong tradition of innovation, excellence, and flexibility. Novra Group is proud to work with a global network of trained partners and resellers. For more information visit:www.novragroup.com.
Forward-Looking Statements:
This press release contains “forward-looking statements” within the meaning of applicable Canadian securities laws, concerning but not limited to, completion and delivery of customer contracts. Forward-looking statements are generally identifiable by words such as “expect”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “outlook”, “opportunity”, “momentum”, “potential”, “targeted”, “plans” “possible”, “poised for”, “looking forward to”, “getting ready to”, and similar expressions, or statements that events, conditions or results “will”, “can”, “may”, “could”, “should” or are “expected to” occur or be achieved. As such, forward-looking statements are not historical facts but reflect our current assumptions and expectations regarding future events. These are subject to a number of risk and uncertainties that could cause actual results or events to differ materially from current expectations and assumptions. Some of these risks and uncertainties are described herein under the “Risks and Uncertainties” section of the MD&A.
For the above reasons, readers are cautioned not to place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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CONTACT:
Harris Liontas, President & CEO
+1 204 989 4632
