Datametrex Provides Year-End Corporate Update
Toronto, Ontario--(Newsfile Corp. - January 18, 2023) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex") is pleased to provide a corporate update outlining the growth initiatives achieved this past year.
2022 was a pivotal year for Datametrex. The Company recently completed a strategic acquisition with Imagine Health Centres ("Imagine Health"). This acquisition had gross revenues of approximately $5 million from operations last year, with strong gross profit margins ranging from 40-45%. Additionally, this acquisition provides an established client base, better positioning the Company in the healthcare industry.
- The Company continues to hold a strong cash position.
- The Company received approval from the TSX Venture Exchange for graduation from Tier 2 to Tier 1 on the TSXV effective February 8, 2022.
- The Company's wholly-owned subsidiary, Nexalogy, successfully completed its first phase of the $40 million AI government contract and announced the continuation of work on the second phase with the Canadian Government to help aid in the defence of Canadian cyber security initiatives into 2023.
- The company achieved great success with its NexaSMART Artificial Intelligence ("AI") and machine learning ("ML") technology bringing in over $2.4 million in AI contracts from a Silicon Valley technology company.
- Nexalogy software is being used to stop the spread of global misinformation and was recognized for its AI and ML technology.
- The Company introduced the Normal Course Issuer Bid (NCIB) program to increase returns to shareholders.
- The Company's wholly-owned telehealth subsidiary, Medi-Call Inc. ("Medi-Call"), launched on iOS and Apple devices and signed three distribution agreements with International Student Agencies for its telehealth services.
- Medi-Call reports working on an AI-driven mental health detection tool.
- Medi-Call expanded its services to Ontario and Alberta from British Columbia only.
- The Company launched its Electric Vehicle (EV) subsidiary, Datametrex Electric Vehicle Solutions ("DM EVS"), and introduced partnerships with commercial landlords and developers to install EV charging stations in B.C.
- DM EVS launched its EV roadside assistance and premium on-demand services and started servicing its mobile roadside assistance to the film and production sites.
- The Company acquired Imagine Health Centres in Calgary and Edmonton.
The Company started the new year strong with Medi-Call entering into a new partnership with Lucira Health and expanding healthcare services to British Columbia, Ontario, and Alberta. This 2023, the Company is focused on revenue and profit creation for its healthcare businesses and rebranding Imagine Health.
Nexalogy continues down the path of providing cybersecurity services on the public side to various government entities and focusing on increasing its clientele and producing more contracts on the private side through its various AI work. Nexalogy is also exploring new avenues to expand its modular intelligence analytic capability through a potential partnership. On the Smart Factory front, Nexalogy continues to work on developing its Smart Factory AI technology, which is currently undergoing beta testing.
Additionally, DM EVS plans to bring in new contracts this year and has a target to install approximately 500 EV chargers across B.C. in 2023. As the EV industry continues to evolve, management plans to introduce additional battery diagnosis and carbon emission reduction technologies and services to ensure the highest standard of customer safety and to reduce environmental impact.
"2022 was a fantastic year for Datametrex. The company's work from this past year provides Datametrex with a competitive advantage, offering business solutions in AI, healthcare, and EV. This new year, we are focused on expansion and profitability. The company is dedicated to increasing earnings and revenue growth and looks forward to making its mark in the healthcare space with Medi-Call and Imagine Health while continuing work with our AI and EV initiatives. We have great things in the works and cannot wait to share more soon!" said Marshall Gunter, CEO of the Company.
Datametrex AI Limited is a technology-focused company with a prominent footprint in artificial intelligence and machine learning. Through the power of artificial intelligence, Datametrex creates solutions for cyber security, telehealth, and electric vehicles. Datametrex's mission is to provide innovative tools and solutions that accelerate services and 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
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) accept 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 statements regarding the acquisition of Imagine Health. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/151663