Predictmedix and Paras Defence & Space Technologies Are Joining Forces to Launch Predictmedix’s Proprietary Technologies in...
November 19 2020 - 8:00AM
Predictmedix Inc. (CSE:PMED)
(OTCQB:PMEDF)
("Predictmedix" or the
"Company") is pleased to announce that the company is
partnering with Paras Defence & Space Technologies Ltd.
("Paras"), which is India's most progressive Tier 2 Defence
Engineering Company to target the government and the public sector
market in South Asia.
Paras defence is one of the largest providers of
defence related technologies to the Indian government and has
clientele extending into other Asian countries along with the
Middle East.
Together, Paras and Predictmedix have identified
significant business opportunities in the government and the public
sector in India. Predictmedix will be working with Paras to launch
its infectious disease symptom screening technology along with
impairment screening technology within these sectors.
"We are extremely excited to partner with Paras as
not only are they the premier defence technology company in India
but they also have an established presence in the government and
the public sector. We will be leveraging their expertise not only
for fabrication but also to target this significant business
opportunity", said Dr. Rahul Kushwah, COO of Predictmedix Inc.
“We are looking forward to working with
Predictmedix to capitalize on this market opportunity. Paras is
already a registered vendor to almost all the Government &
Public Sector departments in India”, commented Anish Mehta,
Director at Paras on the partnership.
For more details on this release
please click on the following
video interview:
https://youtu.be/wPTIvooNnxw
About Paras Defence & Space
Technologies Ltd.
Paras Defence and Space Technologies Limited
manufactures defence electronics and space application products.
The Company offers defence automation and control, rugged displays,
computing, sensors, missile motors, rockets, telescopes, guns, and
ammunition, special purpose machineries.
For more information visit:
www.parasdefence.com
About
Predictmedix Inc.
Predictmedix Inc. is an artificial intelligence
("AI") company developing disruptive tools for impairment testing
and healthcare. It is intended that the Company's cannabis and
alcohol impairment detection tools will be used across various
workplaces and by law enforcement agents. Its technology uses
facial and voice recognition to identify both cannabis and alcohol
impairment by utilizing multiple features along with numerous
different data points. Testing does not require any body fluids or
human intervention, thereby helping to remove human error and the
potential for discrimination and prejudice.
The Company is also developing AI based screening
for the healthcare industry. The recent advent of COVID-19 pandemic
has placed unprecedented stress on the global economy and
highlights the need for tools to help screen mass populations for
infectious diseases, with the hope of preventing pandemics in the
future. In turn, Predictmedix Inc. is expanding its proprietary AI
technology to screen for infectious disease symptoms.
Additionally, psychiatric disorders such as
depression, dementia and Alzheimer's disease can carry a
significant burden and early identification is the key to better
management. To help address this, the Company is also expanding its
proprietary AI technology to screen for psychiatric and/or brain
disorders such as depression, dementia and Alzheimer's disease. To
find out more visit us at www.predictmedix.com
Disclaimer: “The Company is not making any express
or implied claims that its product has the ability to diagnose,
eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at
this time.”
For further information, please
contact:
Dr. Rahul Kushwah, Chief Operating Officer Tel: 647
889-6916Email: rahul@predictmedix.com
Caution Regarding Forward-Looking
Information:
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED
NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
THIS RELEASE.
This news release may contain forward-looking
statements and information based on current expectations. These
statements should not be read 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 be materially
different 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 assume no responsibility to update or revise them to reflect new
events or circumstances. The Company's securities have not been
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, or for the account or benefit of,
persons in the United States or "U.S. Persons", as such term is
defined in Regulations under the U.S. Securities Act, absent
registration or an applicable exemption from such registration
requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of the securities in the United States or any jurisdiction in
which such offer, solicitation or sale would be unlawful.
Additionally, there are known and unknown risk factors which could
cause the Company's actual results, performance or achievements to
be materially different from any future results, performance or
achievements expressed or implied by the forward-looking
information contained herein, such as, but not limited to
dependence on obtaining regulatory approvals; the ability to obtain
intellectual property rights related 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 control of the company, including risks related to COVID-19;
risks related to the Company's shares, including price volatility
due to events that may or may not be within such party's control;
reliance on management; and the emergency of additional competitors
in the industry.
All forward-looking information herein is qualified
in its entirety by this cautionary statement, and the Company
disclaims any obligation to revise or update any such
forward-looking information or to publicly announce the result of
any revisions to any of the forward-looking information contained
herein to reflect future results, events or developments, except as
required by law.
A video accompanying this announcement is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/058992fe-6541-4d61-b760-568b44ef7c0e
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