TORONTO, June  28, 2023  (GLOBE NEWSWIRE) -- Firan Technology Group Corporation (TSX: FTG) today announced that IPC's Validation Services Program has awarded qualification for IPC-1791, Trusted Electronics Fabricator Requirements Qualified Manufacturers Listing (QML) to FTG Circuits Toronto.

FTG is a global corporation offering design, development, prototypes and manufacturing solutions for aerospace and defense electronic products and subsystems.

The FTG Circuits Toronto facility passed stringent Type 2 fabricator requirements, helping to optimize product quality, reliability, and consistency across the entire manufacturing operations, earning a spot-on IPC’s global network of rigorously vetted, trusted sources. Requirements for qualification and QML listing to IPC-1791 includes product and quality system, supply chain risk management system (SCRM), security system including compliance to NIST SP 800-171, Export Control Laws (ITAR and EAR), and a chain of custody system review. This is the third FTG site to achieve the IPC-1791 certification.

FTG Circuits is a manufacturer of high-technology, high-reliability printed circuit boards including standard rigid, high-density interconnect (HDI), RF circuitry, thermal management, and rigid flex products. FTG produces boards utilizing traditional PCB manufacturing processes and a license of Averatek’s A-SAPTM Semi-additive process.

“This IPC recognized qualification combined with the capabilities, scope and FTG’s commitment to being the trusted PCB supplier of choice for aviation, defense and space industry customers assures our continued relationship with IPC Validation Services and the Trusted Supplier Audit Program,” said Mr. Brad Bourne, President and CEO, FTG Corporation.

IPC's Validation Services QML Program was developed to promote supply chain verification and recognition. It also provides auditing and qualification of electronics companies' products and identifies processes which conform to IPC standards. The IPC-1791 QML verifies security systems and recognizes companies for either trusted electronic designer, fabricator, or assembler ensuring a high level of integrity. "IPC's Validation Services Audit Programs uniquely provide technical and in-depth assessments of products and processes in accordance with IPC standards," said Randy Cherry, IPC Director of Validation Services. "We are pleased to recognize FTG Circuits Toronto as a member of IPC's network of trusted QML suppliers."

For more information about IPC's Validation Services QML Program, visit www.ipcvalidation.org or email [email protected].

ABOUT FIRAN TECHNOLOGY GROUP CORPORATION

FTG is an aerospace and defense electronics product and subsystem supplier to customers around the globe. FTG has two operating units:

FTG Circuits is a manufacturer of high technology, high reliability printed circuit boards. Our customers are leaders in the aviation, defense, and high technology industries. FTG Circuits has operations in Toronto, Ontario, Chatsworth, California, Fredericksburg, Virginia, Minnetonka, Minnesota, Haverhill Massachusetts, and a joint venture in Tianjin, China.

FTG Aerospace manufactures and repairs illuminated cockpit panels, keyboards and sub-assemblies for original equipment manufacturers of aerospace and defense equipment. FTG Aerospace has operations in Toronto, Ontario, Chatsworth, California and Tianjin, China.

The Corporation’s shares are traded on the Toronto Stock Exchange under the symbol FTG.

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements. These forward-looking statements are related to, but not limited to, FTG’s operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains words such as “anticipate”, “believe”, “expect”, “plan”, “will”, “may” or similar words suggesting future outcomes. Such statements are based on the current expectations of management of the Corporation and inherently involve numerous risks and uncertainties, known and unknown, including economic factors and the Corporation’s industry, generally. The preceding list is not exhaustive of all possible factors. Such forward-looking statements are not guarantees of future performance and actual events and results could differ materially from those expressed or implied by forward-looking statements made by the Corporation. The reader is cautioned to consider these and other factors carefully when making decisions with respect to the Corporation and not place undue reliance on forward-looking statements. Other than as may be required by law, FTG disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

Forfurtherinformation please contact:  Bradley C. Bourne, President and CEOTel: (416) 299-4000, ext. 314Firan Technology Group Corporation  [email protected] Jamie Crichton, Vice President and CFOTel: (416) 299-4000, ext. 264Firan Technology Group Corporation  [email protected]

Additional information can be found at the Corporation’s website www.ftgcorp.com