Toronto, Canada, August 1, 2023 – Datametrex AI Limited (the "Company" or "Datametrex'') (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) is pleased to provide an update to its wholly-owned subsidiary, Nexalogy Environics Inc. (“Nexalogy”). Further to the news release announced on May 1, which highlighted the successful completion of phase 2 of the Canadian Government AI project, the Company is pleased to report that the criteria for completion of the R&D phase of the project have been met and that the project will be transitioning into the next phase, towards commercialization. The advancement to the next phase will allow Nexalogy to apply its initiatives on a larger scale.
During this next phase, the Government will rigorously assess the readiness of the work in real-world environments specifically tailored for their audiences.
With the project moving beyond purely R&D and into complete and qualified levels, the current R&D project funding sources will need to be replaced with higher-level and expanded funding sources. The Canadian Government remains committed to the program and intends to continue the project to completion.
The Company continues to work closely with the companies and clients collaborating on the project to ensure all goals can be met while another funding source is identified. Any ongoing operational activities are unaffected. The company will provide further updates to investors as developments progress.
"We are pleased about the progress made in collaboration with our partner companies and the Canadian Government to enhance the NexaSMART technology for crucial cybersecurity initiatives. By moving to real-world testing, we believe this technology has the potential to play a pivotal role in safeguarding critical information for military and government applications and look forward to entering the next phase of the project," said Marshall Gunter, CEO of the Company.
About NexaSMART
SMART reduces the time needed to interpret and integrate large sets of data by offering powerful automated analyses. Rather than replacing the human analyst, he/she sets the parameters of the data collection via keywords and other social media information (e.g., usernames and links). This allows for the identification of data needing extraction and analysis. SMART extracts the relevant data and produces automated reports, thus allowing clients to work with a more manageable information set. SMART allows an analyst to deal with hundreds of thousands of social media documents in minutes rather than hours or days.
Analysts can specify filters on the data to get automatic reports on subsets of the data focusing on specific times, entities, social media users, or topics. The resulting reports are delivered either as PDFs, DOCs, or via API for further processing. The report generation can be scheduled to occur either at regular intervals or to be triggered by specific changes in the conversation (e.g., a sudden increase in volume or an increase in mentions of a particular named entity).
Lastly, SMART analysis helps the user to easily access the required information and helps to detect patterns that currently go unrecognized. This is needed in both the context of the 'short game' of crisis reporting and the 'long game' of identifying narratives, as discussed within the BEND (Build Engage Neutralize Distract) framework.
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.com
About Datametrex
Datametrex AI Limited is a technology-focused company with exposure to artificial intelligence, machine learning, and telehealth and has recently entered the electric vehicle (EV) market. Datametrex’s mission is to provide tools and solutions 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, the 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.
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
Email: investors@datametrex.com
Tel: 416-901-5611 x 204
Marshall Gunter, CEO
Email: mgunter@datametrex.com
Tel: 514-295-2300
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.
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, 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.
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