Nexalogy Enters into License and Development Agreement with Revive to Develop AI Component in Blockchain Enabled Patient-Focu...
November 27 2017 - 7:30AM
Datametrex AI Limited (the “Company” or
“Datametrex”) (TSXV:DM) (FSE:D4G) is pleased to announce
that the Company’s wholly owned subsidiary, Nexalogy Environics
Inc., has entered into a license and development agreement (the
“Agreement”) with Revive Therapeutics Ltd. ("Revive") (TSXV:RVV)
(OTCQB:RVVTF) to develop the Artificial Intelligence (“AI”)
component in Revive’s proprietary patient-focused program enabled
by Blockchain technology dedicated to the medical cannabis
industry.
“We are excited to work with Revive to develop
their proprietary patient-focused program for their
commercialization efforts in the medical cannabis sector. We
believe there is a massive opportunity in developing unique
technology solutions for all constituents in the medical cannabis
sector and their proposed medical cannabis patient-focused platform
that includes an AI component is one example of the many sector
opportunities Nexalogy can target,” said Andrew Ryu, Chairman and
Chief Executive Officer of the Company.
"I am very excited to be working with Nexalogy
in developing our concept of a patient-focused program that is
enabled by blockchain and AI technology, which will aim to provide
licensed producers of medical cannabis and healthcare professionals
a private, secure and authentic information source to drive new
medical cannabis product innovations and to offer the highest
possible quality of care to medical cannabis patients," said Fabio
Chianelli, President of Revive. "Nexalogy, with its expertise and
proprietary technologies specifically in AI, is an ideal partner to
execute our plan to provide novel therapies and technology
solutions for the medical cannabis sector."
Nexalogy AI solutions unlock valuable insights
from social media data. Through its proprietary semantic clustering
algorithms, it provides insights and analysis that are not
available through traditional business intelligence technology.
This technology makes data more relevant and is the missing link in
providing actionable social media intelligence to governments and
organizations all over the world.
Under the terms of the Agreement Datametrex will
receive an upfront license fee along with monthly
fees. Datametrex will grant to Revive a non-transferable,
non-sub-licensable, and non-exclusive licence to use Nexalogy’s
proprietary AI solution, solely to obtain insights and intelligence
of medical cannabis user experience expressed on social media.
The duration of the Agreement is for six months and the
Agreement may be extended at the request and acceptance by both
Datametrex and Revive (the “Parties”).
About ReviveRevive is focused
on the research, development and commercialization of novel
therapies and technologies for the pharmaceutical and medical
cannabis sectors. Additional information on Revive is available at
www.ReviveThera.com.
About Datametrex
Datametrex AI Limited is focused on the
collection of retail sales data, providing Government Agencies and
Fortune 500 corporations with Artificial Intelligence solutions and
implementing blockchain solutions for secure data
transfers. The company is planning on integrating the DataTap
environment to decentralized blockchains to further authenticate
and validate the data collected.
To learn more about the Company, visit:
www.datametrex.com.
For further information, please
contact:
Jeffrey Stevens – President & COOPhone:
(647) 400-8494Email: jstevens@datametrex.com
Forward-Looking Statements
This news release contains “forward-looking
information” within the meaning of applicable Canadian securities
laws, including statements regarding the timing and completion of
any blockchain related activities as the subsidiary is newly
incorporated and has no current operations. Forward-looking
information is not a guarantee of future performance or results,
since it involves risks and uncertainties. There is no assurance
that forward-looking statements will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in forward-looking statements. Some of the factors on
which the forward-looking statements are premised include (but are
not limited to) the lack of material changes to general economic,
market and business conditions. Except as required by law, the
Corporation does not assume and expressly renounces any obligation
to update any forward-looking information, which is only applicable
on the date on which it is given.
Neither the TSX Venture Exchange nor its
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.
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