Guardforce AI Extends Contract with Government Savings Bank in Thailand; Contract Valued in Excess of $19 Million over Three Years

NEW YORK, NY, May 31, 2022 (GLOBE NEWSWIRE) — Guardforce AI Co., Limited (“Guardforce AI” or the “Company”) (NASDAQ: GFAI, GFAIW), an integrated security solutions provider, announced today that Guardforce Cash Solutions Security (Thailand) Company Limited (“GFCS”), the secured logistic subsidiary of Guardforce AI, has extended its contract as the automated teller machine (ATM) service provider for Government Savings Bank (GSB) in Thailand. The contract starts on June 1, 2022 and is worth approximately USD $19.5 million over a three-year period.  Under the agreement, GFCS will service approximately 4,000 units across Thailand and provide full a full suite of ATM services, including replenishment, maintenance and cleaning services.

“We are delighted to have extended this significant multi-year ATM contract with Government Savings Bank in Thailand….