Predictmedix Provides Business and Technology Development Updates and Closes Final Tranche of Private Placement

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TORONTO, ON/ACCESSWIRE/November 7, 2022/ Predictmedix Inc. (“Predictmedix” or the “Company”) (CSE: PMED) (OTCQB: PMEDF), an emerging provider of rapid medical screening solutions powered by proprietary artificial intelligence (AI), announces that it has closed the final tranche of its private placement without an intermediary. Pursuant to the Final Tranche, the Company issued 1,600,000 Units (the “Units”) at a price of $0.05 per Unit to investors for gross proceeds of $80,000. Each unit consists of one common share of the Company and one-half (1/2) common share purchase warrant (each whole warrant, a “Warrant”), each allowing its holder to purchase one additional common share for a period of two years from closing at an exercise price of $0.10 per share. The net proceeds from the financing will be used for general operations (working capital), including business development and technology upgrades. All securities issued under the financing are subject to a legal hold period expiring four months and one day from the date of issue of the securities.

Business and technology development updates:

  • Two (2) successfully peer-reviewed and accepted publications in scientific journals

  • A NEW DEEP LEARNING TECHNIQUE FOR ALCOHOL DISABILITY USING VISUAL AND ACOUSTIC FEATURES1

  • NEW AI-BASED APPROACH FOR HUMAN BODY TEMPERATURE ASSESSMENT USING INNER EYE CANTHUS LOCATION FROM CAMERA POWER2

  • Four (4) additional publications are currently under peer review in scientific journals. In addition to Predictmedix’s recently peer-reviewed publications for detecting alcohol impairment and detecting body temperature, these four publications continue to validate the company’s technology for identifying symptoms of infectious diseases, fatigue , key vital signs and overall ability to screen for various parameters as part of Safe Entry’s Fit for Duty exam.

  • Peer-reviewed journal articles are an imperative part of the scalability and adoption plan for the Predictmedix technology and solution. Predictmedix academic publications must be reviewed by experts in the same field and are necessary to ensure academic scientific quality – and having multiple publications accepted in scientific journals is an important milestone for the company’s sales efforts and for its ownership. intellectual.

  • Significant updates and upgrades to our AI algorithms from capturing data from subjects across the US, Canada, Mexico and India – making secure entry stations more accurate, reliable and faster.

  • Automated live updates that incorporate the latest captured datasets from various customer sites around the world. Safe entry stations will receive updated algorithmic models via live updates, automatically, in real time.

  • New employee monitoring heatmap through which respective managers can view digitized data for infectious diseases, cannabis and alcohol impairment, extreme fatigue and exhaustion, and states of emotional distress.

  • Neural network recurrent noise filtering and other new features are now used to manage voice signals, as part of the speech detection setting of Safe Entry’s Fit for Duty filtering. This contributes to a more accurate reading of the Safe Entry speech detection setting.

  • Distribution of demonstration units with full Fit for Duty testing through the Company’s distributor, SBL Testing Technologies (“SBL”). SBL has begun rolling out secure entry stations to partners such as Probe IMT in South Africa, a leader in technology integration in the mining sector across Africa, and other leading players on key markets. Additionally, SBL currently has over a dozen distributors across North America in various stages of introducing Safe Entry to potential customers.

  • The Safe Entry demo units being deployed are intended for a series of discovery sessions, beginning in Calgary and Vancouver starting this month, and across North America in Q4 and beyond.

1 https://ikprress.org/index.php/JOMAHR/article/view/7868

2 https://ikprress.org/index.php/JOBARI/article/view/7897

Predictmedix is ​​currently in the process of appointing a new Independent Director to replace Ajit Kumar as he could not continue with us due to personal reasons. The Society thanks him for his contribution.

About Predictmedix Inc.

Predictmedix (CSE: PMED) (OTCQB: PMEDF) is an emerging provider of rapid medical screening and remote patient care solutions worldwide. The company’s secure entry stations – powered by proprietary artificial intelligence (AI) – use multispectral cameras to analyze physiological data patterns and predict a variety of health issues, including infectious diseases such as COVID-19. 19, impaired by drugs or alcohol, fatigue or various mental disorders. diseases. Predictmedix’s proprietary remote patient care platform offers healthcare professionals a suite of AI-powered tools to improve patient health outcomes. To learn more, please visit our website at www.Predictmedix.com or follow us on Twitter, Instagram or LinkedIn.

Investor Relations

Corey Matthews
[email protected]

Caution Regarding Forward-Looking Information:

This press release may contain forward-looking statements and information based on current expectations. These statements should not be construed as guarantees of future performance or results of the Company. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those implied by such statements. Although these statements are based on management’s reasonable assumptions, there can be no assurance that these assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The securities of the Company have not been registered under the US Securities Act of 1933, as amended (the “US Securities Act”), or applicable state securities laws, and may not be offered or sold to , or for the account or benefit of, persons in the United States or “US Persons”, as that term is defined in the Regulations under the US Securities Act, in the absence of registration or an applicable exemption these registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful. . In addition, there are known and unknown risk factors that could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in the present, such as, but not limited to, dependence on obtaining regulatory approvals; the ability to obtain intellectual property rights relating to its technology; limited operating history; general business, economic, competitive, political, regulatory and social uncertainties, and in particular uncertainties related to COVID-19; risks related to factors beyond the Company’s control, including risks related to COVID-19; risks associated with the Company’s shares, including price volatility due to events which may or may not be within that party’s control; dependence on management; and the urgency of additional competitors in the industry.

All forward-looking information contained herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update such forward-looking information or to publicly announce the outcome of any revision of any forward-looking information contained herein to reflect future results, events or developments, except as required by law.

Disclaimer: “The company makes no express or implied representation that its product has the ability to diagnose, eliminate, cure, or contain COVID-19 (or the SARS-2 coronavirus) at this time. .”

THE CANADIAN STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE SUITABILITY OR ACCURACY OF THIS RELEASE.

THE SOURCE: PredictMedix Inc.

See the source version on accesswire.com:
https://www.accesswire.com/724130/Predictmedix-Provides-Business-and-Technology-Development-Updates-and-Closes-Final-Tranche-of-Private-Placement

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