Toronto, Canada, October 23, 2023 – Datametrex AI Limited (the "Company" or "Datametrex'') (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) is pleased to announce that it is assessing opportunities to resume its COVID-19 testing business, in response to heightened interest from the film and production industries. The Company previously generated revenues of $25.9mn in 2022, $45.0mn in 2021, and $8.3mn in 2020 from Health Security, with the primary contribution coming from its COVID-19 testing services.
As the world continues to navigate the challenges presented by the COVID-19 pandemic, the film and production industry has shown a growing need for reliable and efficient testing solutions to ensure the safety of their staff and the successful execution of their projects.
The Public Health Agency of Canada reports that COVID-19 hospitalizations are on the rise across Canada as a wave of infections sweeps the population and COVID-19 hospitalizations have reached numbers not seen since last winter. (Source: https://www.ctvnews.ca/health/coronavirus/covid-19-hospitalizations-reach-numbers-not-seen-since-last-winter-1.6605491)
With the recent resurgence of COVID-19 cases, the Company recognizes that COVID-19 testing services may be essential for the film and production industry to implement rigorous safety measures on set and are closely monitoring the regulatory updates and guidelines related to COVID-19 testing within the film and production industry. The Company is now actively evaluating the possibility of reinstating its COVID-19 testing services, aligning with industry-specific regulations, and ensuring that the highest safety standards are upheld.
As discussions continue, Datametrex remains dedicated to exploring the potential of providing COVID-19 testing services to the film and production industry and contributing to the safety and well-being of all involved in these projects.
"We are pleased to see the film and production industry express interest in our COVID-19 testing services. The safety and well-being of individuals working on set are paramount, and we are committed to offering reliable testing solutions to help the industry maintain a safe and productive environment,” said Marshall Gunter, Chief Executive Officer of the Company.
Datametrex AI Limited is a technology-focused company with verticals in leading industries, including artificial intelligence, machine learning, telehealth, healthcare, and electric vehicles. Datametrex’s mission is to provide tools and solutions that support companies in optimizing and fulfilling their operational goals, with predictive and preventive technologies. By working with companies to set a new standard of protocols through artificial intelligence and health diagnostics, the Company provides progressive solutions to improve businesses' bottom line.
For additional information on Datametrex and other corporate information, please visit the Company's website at www.datametrex.com.
To learn more about how our AI is used in Cyber Security, Telehealth and EV, visit: https://www.youtube.com/watch?v=ApFk3sWAXtg.
For further information:
Investor Relations & Communications
Priya Monique Atwal, Director of Communications
Tel: 416-901-5611 x 204
Marshall Gunter, CEO
Neither TSX Venture Exchange nor its 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.
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, including but not limited to the proposed spin-out transaction. 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. 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.