Toronto, Ontario--(September 14, 2021) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex") is pleased to announce that the revenue that was projected on signing the COVID-19 service agreement (the "Agreement") with a major media and entertainment company in September 2020, has exceeded the Company's revenue guidance.
Based on the discussions when signing the Agreement, management anticipated that the aggregate dollar amount of revenue was expected to be around $20M for the initial nine (9) months.
The Company recorded the revenue of approximately $26M for the nine (9) months, which exceeded from anticipated revenue of $20M, and given the current increased demand for COVID-19 testing and related services with new and returning shows, Datametrex anticipates the Agreement to generate up to $50M for the full fiscal year ending December 31, 2021.
"We are thrilled to exceed the anticipated target. Datametrex remains committed to the film industry in Canada to help ensure the health and safety of the individuals working on sets and in production offices. We continue to ramp up our business to meet the demands and expectations of our clientele," said Marshall Gunter, CEO of the Company.
Datametrex AI Limited is a technology-focused company with exposure to Artificial Intelligence and Machine Learning through its wholly-owned subsidiary, Nexalogy (www.nexalogy.com). Datametrex's mission is to provide tools that support companies in fulfilling their operational goals, including Health and Safety, with predictive and preventive technologies. By working with companies to set a new standard of protocols through Artificial Intelligence and health diagnostics, Company provides progressive solutions to support the supply chain.
For additional information on Datametrex and other corporate information, please visit the Company's website at www.datametrex.com.
For further information, please contact:
Marshall Gunter - CEO Phone: (514) 295-2300 Email: firstname.lastname@example.org
Neither the TSX Venture Exchange nor it's 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.
Forward Looking Statements:
All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. In particular, there is no guarantee that the parties will successfully negotiate and enter into a definitive agreement on mutually acceptable terms or complete the Transaction in the manner contemplated herein, if at all, that the due diligence of any of the parties will be satisfactory, or that the parties will obtain any required board, shareholder, third-party and/or regulatory or other governmental approvals, if any. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.