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Toronto, ON / ACCESSWIRE / November 7, 2022 / Predictive Medicine, Inc. (“Predictmedix” or the “Company”) (CSE: PMED) (OTCQB: PMEDF), an emerging provider of rapid health screening solutions powered by proprietary artificial intelligence (AI), announced that it has closed its Non-brokered private placements. According to the final tranche, the Company issued 1,600,000 units (“Units”) to investors at a price of $0.05 per unit for a total proceeds of $80,000. Each unit consists of one common share of the Company and one-half of one (1//2) common share warrant (each entire Warrant, the “Warrant”), whereby each The warrants give the holder the right to purchase an additional share of common stock two years after the close at an exercise price of $0.10 per share. Net proceeds from the financing will be used for general business (working capital), including business development and technology upgrades. All securities related to the financing are subject to a statutory holding period of four months and one day from the date the securities are issued.
Business and Technology Development Updates:
- Two (2) papers successfully peer-reviewed and accepted into scientific journals
- A novel deep learning technique for alcohol impairment using visual and auditory features1
- Novel AI-based body temperature assessment method using inner canthus localization from camera2
- Four (4) additional publications are currently under peer review in scientific journals. In addition to Predictmedix’s most recent peer-reviewed publications for detecting alcohol impairment and detecting body temperature, these four publications continue to validate the company’s technology for identifying infectious disease symptoms, fatigue, key vital signs, and overall ability to screen for various parameters. Safe entry Part of the fit for duty screening.
- Peer-reviewed journal articles are an integral part of Predictmedix’s scalability and technology and solution adoption plans. Predictmedix’s academic publications must be reviewed by experts in the same field and are necessary to ensure the quality of academic science – publishing multiple accepted publications in scientific journals is an important milestone in the company’s sales efforts and its intellectual property.
- Significant updates and upgrades have been made to our AI algorithms by capturing data from subjects in the US, Canada, Mexico and India – making secure entry stations more accurate, reliable and fast.
- Over-the-air, automatically updated, integrating the latest captured datasets from various customer sites around the world. Secure entry stations will automatically receive updated algorithm models in real-time via over-the-air updates.
- New hires monitor heatmaps, and corresponding managers can visualize scanned infectious disease data, marijuana and alcohol damage, extreme fatigue and exhaustion, and low mood states.
- RNN noise filtering and other new features are now used to manage speech signals as part of Safe Entry’s speech detection parameters for duty screening. This facilitates a more accurate reading of speech detection parameters for safe entry.
- Demonstration units with comprehensive fit-for-duty screening are distributed through the Company’s distributor, SBL Testing Technologies (“SBL”). SBL has begun deploying secure entry stations to partners such as Probe IMT in South Africa, a leader in technology integration for the mining industry across Africa, and other leading players in key markets. In addition, SBL currently has more than a dozen distributors in North America and is in various stages of introducing Safe Entry to potential customers.
- The Safe Entry Demonstration Unit is being deployed for a series of exploration sessions, beginning this month in Calgary and Vancouver, and throughout North America in Q4 and beyond.
Predictmedix is currently appointing a new independent director to replace Ajit Kumar as he is unable to continue working with us for personal reasons. The company thanks him for his contribution.
About Predictmedix Inc.
Predictmedix (CSE: PMED) (OTCQB: PMEDF) is an emerging global provider of rapid health screening and remote patient care solutions. The company’s secure entry stations — powered by proprietary artificial intelligence (AI) — use multispectral cameras to analyze patterns in physiological data and predict a variety of health issues, including infectious diseases such as COVID-19, drug or alcohol impairment, fatigue or various mental illnesses. Predictmedix’ proprietary remote patient care platform provides medical professionals with a suite of AI-driven tools to improve patient health. To learn more, visit our website www.Predictmedix.com or follow us on Twitter, Instagram or LinkedIn.
Investor Relations Contact
Note Regarding Forward-Looking Information:
This press release may contain forward-looking statements and information based on current expectations. These statements should not be considered as guarantees of the company’s future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We undertake no duty to update or revise them to reflect new events or circumstances. The Company’s securities are not registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or applicable state securities laws, and may not be offered or sold to individuals, or for their accounts or benefits in the United States or the “U.S. Securities Act”. Person”, as defined in the Regulations of the U.S. Securities Act, has no registration or applicable exemption from such registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor does it constitute a sale of securities in the United States or any jurisdiction where such offer, solicitation or sale would be unlawful. In addition, there are known and unknown risk factors that could cause the company’s actual results, performance or achievements to differ materially from any future results, performance or achievements on page 4 expressed or implied by the forward-looking information contained herein, for example, but not limited to reliance on obtaining regulatory approvals; the ability to acquire intellectual property related to its technology; limited operating history; general commercial, economic, competitive, political, regulatory and social uncertainties, particularly those related to COVID-19 risks related to factors beyond the company’s control, including risks related to COVID-19; risks related to the company’s stock, including price fluctuations due to events that may or may not be within the party’s control; reliance on management; and Emergencies of other competitors in the industry.
All forward-looking information contained herein is subject to this cautionary statement in its entirety, and the company undertakes no obligation to revise or update any such forward-looking information or to publicly announce the results of any revisions to any forward-looking information contained herein to reflect future results, events or developments, unless required by law.
Disclaimer: “The company currently makes no claims, express or implied, that its products have the ability to diagnose, eliminate, cure or contain COVID-19 (or SARS-2 coronavirus).”
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resource: PredictMedix Inc.
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