TORONTO, June 18, 2020 (GLOBE NEWSWIRE) -- Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV: DM, FSE: D4G, OTC: DTMXF) is pleased to share a corporate update that since announcing on April 16, 2020, that it secured the rights to import and sell high-quality South Korean manufactured Nucleic Acid COVID-19 test kits.
Datametrex continues supporting companies through facilitating COVID-19 test kits, along with big data AI analytics tools that can help target future outbreaks, potentially source fake news that can be detrimental to the operations, or even visualize the audience that needs the fastest response in these critical times.
The Company has sold approximately 30,000 test kits and 7 PCR (Polymerase Chain Reaction) machines to several Canadian companies, for total gross sales of approximately $1.5 million CAD. Datametrex has little or no upfront costs associated with the sale of these test kits.
- Since May 15th, Datametrex has generated gross sales of $500,000 with the sale of 10,000 test kits and one (1) PCR machine to a large Canadian mining company with operations in West Africa.
- Since June 8th, Datametrex has sold $810,000 with initial orders comprising of 12,000 test kits and six (6) PCR machines to two Canadian companies.
- On June 9th the Company arranged with lab partner Transpharm Canada Inc. (“TCI”) to conduct ongoing testing for a private Quebec metal mining company with an initial order of 2,000 test kits generating gross sale of approximately $250,000 for Datametrex.
“With the resurgence of a second wave of COVID-19 in multiple countries, and with a worldwide attempt to reduce lockdown measures to get citizens back to work, the demand for testing will only increase. These rapid antibody-based tests are a vital tool for jumpstarting the economy,” says Marshall Gunter, CEO of the Company. “Datametrex is pleased to facilitate the sale of these test kits globally providing worldwide, the opportunity to use top quality test kits to flatten the curve and get back to the “new normal” safely.”
Advisory Board and New Personnel
On May 4th, Todd Shapiro consented to join the Board of Directors of Datametrex. After being a top rated Radio Show host & a brilliant marketing Entrepreneur with over 20 years of experience, he has recently moved on from main stream media to concentrate his efforts on being the CEO of Red Light Holland. Todd currently sits on the Board of Directors for Red Light Holland, JamStacked and Mogul Productions.
On May 19th, Datametrex added President and Dean of the Toronto Institute of Pharmaceutical Technology (“TIPT”) and Clinical Pharmacologist, Dr. Alexander MacGregor, Ph.D., to the Company's Medical Advisory Board.
On June 10th, the Company welcomed Edward Choi, to head up the sales team in Seoul, South Korea. Edward was a Vice President at LOTTE for leading Lotte’s cyber security division.
The Company’s project pipeline is significant on both the COVID-19 test kits and Personal Protective Equipment (“PPE”) based on multiple projects in various stages of development across Canada, US, Africa, Asia, Australia and the EU. We are waiting for PO approvals with specified COVID-19 sales and or tender proposal process. The Company will recognize revenue upon sale and shipment of the test kits. The Company will also receive additional revenue streams as we secure new business and continue to provide Ai services, fullfill contracts and or supply agreements to goverments, corporate customers upon fulfillment.
About Transpharm Canada Inc.
Transpharm Canada Inc. provides pharmaceutical education, technology, and research opportunities to students through its subsidiary, Toronto Institute of Pharmaceutical Technology, North America's premier pharmaceutical training institute. The facility is also fully compliant Health Canada licensed Good Manufacturing Practice (“GMP”) manufacturing and testing facility and is a full-service clinical development business that provides clinical trial services to biotechnology companies. Additional information on TIPT is available at www.tipt.com
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, the Company provides progressive solutions to support the supply chain. Additional information on Datametrex is available at www.datametrex.com.
For further information, please contact:
Marshall Gunter – CEO
Phone: (514) 295-2300
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.
This 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.
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