Datametrex Awarded $217,000 by Department of National Defence for Completion of Phase 2 of Innovation Program
TORONTO, April 22, 2020 (GLOBE NEWSWIRE) — Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV: DM, FSE: D4G, OTC: DTMXF) is pleased to announce that the Department of National Defence approved the Company’s completion of the second phase of a multi-phase R&D program through the Department of National Defence’s Innovation for Defence Excellence and Security (IDEaS) program. Datametrex will be receiving approximately $217,000 CAD as payment for completion of phase 2. The Company will continue to work on phase 3 of the program to further develop Nexalogy SMART, Social Media Automated Reporting Technologies. Due to confidentiality requirements, the Company is not permitted to provide additional details about the nature of the work being performed for the Department of National Defence.
IDEaS supports the development of solutions from their conceptual stage, through prototype testing and capability development. The program includes several elements that promote collaboration between innovators, provides developmental resources and provides opportunities to interact with DND’s science and military members. Through which all innovators are on an even playing field to solve specific defence and security challenges. For more info about the program, see here: https://www.canada.ca/en/department-national-defence/programs/defence-ideas.html“The completion of phase 2, marks the halfway point of this project and reflects the important work we are doing to help the Government of Canada maintain a technological advantage in the realm of cyber social media security. We are happy to have the go ahead to continue the contract.” says Marshall Gunter, CEO of the Company.For more information on this project or to learn how Datametrex can assist your organization in social media discovery or cyber security please go to: www.nexalogy.comAbout DatametrexDatametrex AI Limited is a technology focused company with exposure to Artificial Intelligence and Machine Learning through its wholly owned subsidiary, Nexalogy (www.nexalogy.com).For more information about the IDEaS program please visit: Canada.ca/defence-ideasFor further information, please contact:Marshall Gunter – CEO
Phone: (514) 295-2300
Email: email@example.comForward-Looking StatementsThis news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.