Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex") is pleased to announce that it has signed four (4) additional service agreements for COVID-19 testing with one episodic television series on a main US network, and three new shows for one of the largest streaming platform and service company through mid 2022.
Datametrex continues to support Vancouver, Toronto, and Montreal in providing critical COVID-19 testing kits for actors, film crews, and production support staff to prevent cluster outbreaks. Film and TV production companies all support continued use of safety protocols, especially COVID-19 testing to keep production members and actors healthy and safe while employed on sets and in production offices.
Film and TV productions In Canada and Canadians in general have a major concern regarding the Delta variant (B.1.617.2. variant), a hyper-contagious SARS-CoV-2 virus strain, which was first identified in India in October 2020.
"The COVID-19 testing market is an important business sector for Datametrex and we look to continue supporting the film industry with kits and now with the Delta variant of the virus being the "the fastest and fittest," according to the World Health Organization, it is the right time to step up testing to keep everyone healthy and working," stated Marshall Gunter, CEO of Datametrex.
The fear is that an increase in Delta variant cases may well lead to a resurgence in health and safety restrictions not just in Canada, but internationally and deter global productions from filming. The World Health Organization (WHO) has called this version of the virus the fastest and fittest.
Centers for Disease Control and Prevention Director Rochelle Walensky, says the Delta variant makes up 83% of all sequenced COVID-19 cases in the U.S., to become the dominant strain in the country. The city of Los Angeles has opted to reverse mask guidelines because of the Delta variant, clearly recommending that both unvaccinated and vaccinated people wear masks inside public spaces like restaurants, shops, and movie theaters.
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 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.
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.
NON-IFRS FINANCIAL MEASUREMENTS
The Company has included non-IFRS performance measures throughout this press release, including (a) Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA"); (b) Adjusted EBITDA which is EBITDA adjusted for the gain (loss) on change in fair value of the Company's investment properties and the gain (loss) on change in fair value of derivative instruments; and (c) Book Value per Share which is calculated as equity attributable to Datametrex AI Limited shareholders divided by total common shares outstanding at the end of the reporting period. These non-IFRS financial measurements do not have any standardized meaning as prescribed by International Financial Reporting Standards ("IFRS") and are therefore unlikely to be comparable to similar measures presented by other issuers. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Management uses EBITDA metrics to measure the profit trends of the business units and segments in the consolidated group since it eliminates the effects of financing decisions. Certain investors, analysts and others utilize these non-IFRS financial metrics in assessing the Company's financial performance. These non-IFRS financial measurements have not been presented as an alternative to net income or any other financial measure of performance prescribed by IFRS. Reconciliation of non-IFRS measures has been provided throughout the Company's MD&A, as applicable, filed under the Company's profile on www.SEDAR.COM.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90995