Predictmedix Inc. – Corporate Update
TORONTO, Jan. 25, 2021 (GLOBE NEWSWIRE) — Predictmedix Inc. (CSE:PMED) (OTCQB:PMEDF) (“Predictmedix” or the “Company”) is pleased to provide a corporate update on its recent activities. This update will outline current progress, advancements of the Company and shed light on other corporate developments as the past few months have been about laying the groundwork for our long-term success. The initiatives and developments outlined below are in line with our larger goal of being the market leader in workplace health and safety by offering artificial intelligence powered technologies which address the major issues encountered in workplaces.
Public showcase of our technology in New York CityPredictmedix and Juiceworks’ Safe Entry Station will be showcased in a Live event on Jan 26, 2021 in New York City by Wellness4Humanity.Wellness4Humanity’s New York City (NYC) flagship location opens at 225 West 34th Street near Pennsylvania Station in the heart of Herald Square in the two-story high-impact space formerly occupied by Lane Bryant. The flagship location will be showcasing a Safe Entry Station powered by Predictmedix’s proprietary infectious disease symptom screening technology.- Here is a link to a demo of our technology: https://www.youtube.com/watch?v=phziV7OBkjYSales and business developmentPredictmedix has been gearing up its sales and business development efforts for its screening technologies and is proud to announce the following progress to date:
- Predictmedix has successfully deployed its technologies for beta testing purposes with major partners in North America and Asia, including India Oil (a fortune 500 corporation), MGM Hospital COVID-19 ward (one of the largest COVID-19 hospitals in Mumbai, India) and Flow Water.
- Our deployment at MGM Hospital is strategic to ensure our AI algorithms adapt to symptom associated changes brought on by new COVID-19 variants. In other words, this allows our AI algorithm to adapt to the mutating virus. Once learned, the technology is deployed immediately and is simultaneously functional across all present deployments.
- Prospective clients in the US are particularly interested in a solution which performs metal detection along with infectious disease symptom screening. Predictmedix and Juiceworks is currently working with one of the largest metal detector manufacturers in North America to design a solution which integrates our infectious disease symptom screening solution with metal detectors. This will allow Predictmedix to launch a competitive product in the full body scanner market as well.
- Predictmedix is setting up its India Operations and is in the process of appointing a Managing Director to oversee Indian operations so we can maximize business opportunities in India. We are specifically leveraging our partnership with Paras Defense, which is one of the largest defence contractors in India, to target the government sector in India.
- Predictmedix has engaged with Norlan Consulting Group Ltd to target the public sector in Canada.
- Predictmedix has executed a LOI (“Letter of Intent”) with one of the largest and most prestigious North American business consulting firms with global operations and is currently working on business development initiatives along with a definitive sales agreement.
- Our resellers have ramped up their sales team to target strategic sectors for our technologies.
- Predictmedix is putting together an online lead generation campaign which is being kickstarted within the next 2 weeks targeting North America and will provide progress updates in the weeks to come.Impairment screening technology
- Currently under discussions with major corporations to start Cannabis & Alcohol impairment testing pilots in North America.
- Marketing and sales efforts have been ramped up to identify beta partners targeting strategic sectors in North America.Predictmedix has made significant process over the past few months in testing its technologies and showcasing the effectiveness of the solutions made available by Predictmedix. We are excited about the opportunities in front of us.About Predictmedix Inc.Predictmedix Inc. is an artificial intelligence (“AI”) company developing disruptive tools for impairment testing and healthcare. It is intended that the Company’s cannabis and alcohol impairment detection tools will be used across various workplaces and by law enforcement agents. Its technology uses facial and voice recognition to identify both cannabis and alcohol impairment by utilizing multiple features along with numerous different data points. Testing does not require any body fluids or human intervention, thereby helping to remove human error and the potential for discrimination and prejudice.The Company is also developing AI based screening for the healthcare industry. The recent advent of COVID-19 pandemic has placed unprecedented stress on the global economy and highlights the need for tools to help screen mass populations for infectious diseases, with the hope of preventing pandemics in the future. In turn, Predictmedix Inc. is expanding its proprietary AI technology to screen for infectious disease symptoms.Additionally, psychiatric disorders such as depression, dementia and Alzheimer’s disease can carry a significant burden and early identification is the key to better management. To help address this, the Company is also expanding its proprietary AI technology to screen for psychiatric and/or brain disorders such as depression, dementia and Alzheimer’s disease. To find out more visit us at www.predictmedix.comDisclaimer: “The Company is not making any express or implied claims that its product has the ability to diagnose, eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at this time.”For further information, please contact:Ehsan Agahi, Investor Relations
Tel: 778 229 4319
Email: IR@predictmedix.comCaution Regarding Forward-Looking Information:THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company’s securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. Persons”, as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to obtain intellectual property rights related to its technology; limited operating history; general business, economic, competitive, political, regulatory and social uncertainties, and in particular, uncertainties related to COVID-19; risks related to factors beyond the control of the company, including risks related to COVID-19; risks related to the Company’s shares, including price volatility due to events that may or may not be within such party’s control; reliance on management; and the emergency of additional competitors in the industry.All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except required by law.