TORONTO, June 4, 2021 /CNW/ - Predictiv AI
Inc. (TSXV: PAI) (OTC: INOTF) (FSE: 71TA) ("Predictiv
AI" or the "Company"), www.predictiv.ai, a software
and solutions provider in the artificial intelligence markets, is
pleased to announce that Predictiv AI and Commersive Solutions
Corp. ("Commersive") have entered into a shareholders agreement
dated June 3, 2021 for SMRT Labs Inc.
("SMRT"), which is the holding company for ThermalPass. As
announced on May 7, 2020, SMRT is
owned 51% by Predictiv AI and 49% by Commersive, and each of
Predictiv AI and Commersive have agreed to provide SMRT with loans,
as required, according to their respective ownership interests in
order to advance the development and commercialization of
ThermalPass.
In connection with formalizing SMRT, Predictiv AI has agreed to
the following issuances to Commersive:
- 1,818,181 common share purchase Warrants (the "Warrants")
of the Company, with each Warrant exercisable into a common share
of the Company at an exercise price of $0.3575 per share for a period of 3 years;
and
- 2,272,727 common shares of the Company on the following
terms: (i) 1,136,363 common shares shall be issued upon SMRT
completing the sale of 80 units of ThermalPass and SMRT receiving
payment for such sales; and (ii) the remaining 1,136,364 common
shares shall be issued upon SMRT completing the sale of an
additional 170 units of ThermalPass (i.e., 250 collective
ThermalPass units sold) and SMRT receiving payment for such
sales.
Predictiv AI is not making any express or implied claims that
its product has the ability to eliminate, cure, or contain the
COVID-19 (or SARS-2 coronavirus) at this time.
For more information on Predictiv AI or ThermalPass,
visit: www.predictiv.ai and follow Predictive AI on:
Facebook:
https://www.facebook.com/PredictivAI/
Twitter:
https://twitter.com/predictivai
LinkedIn:
https://www.linkedin.com/company/predictivai/
About Predictiv AI Inc.
Predictiv AI
Inc. www.predictiv.ai is a technology company which helps
businesses and organizations make smarter decisions using advanced
artificial intelligence, deep machine learning and data science
techniques. Its Weather Telematics Inc. subsidiary uses patented
air quality monitoring sensors to provide predictive weather risk
information to the insurance, logistics, fleet management and
public safety sectors. The Company's R&D division, AI Labs
Inc., develops new products that solve real-world business
problems. The joint venture with Commersive Solutions Corp. is
developing innovative technologies for use in various public
spaces, starting with the ThermalPass™ fever detection system.
Cautionary and Forward-Looking
Statements
Statements contained in this news release,
which are not historical facts, are forward-looking statements that
involve risk, uncertainties and other factors that could cause
actual results to differ materially from those expressed or implied
by such forward-looking statements. There can be no assurance that
such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such statements. All forward-looking statements included in this
news release are based on information available to the Company on
the date hereof. Forward-looking statements are subject to known
and unknown risks, uncertainties and other factors that could cause
actual results of the Company to differ materially from the
conclusion, forecast or projection stated in such forward-looking
statements. These risks, uncertainties and other factors include,
but are not limited to, ThermalPass achieving the commercial
results anticipated by the Company, market demand for ThermalPass
and other factors referenced in the Company's other continuous
disclosure filings, which are available at sedar.com. Readers
should not place undue reliance on these forward-looking
statements. The Company assumes no obligation to update any
forward-looking statements, except as required by applicable
securities laws.
_______________________________________________________________________________________________________________
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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SOURCE Predictiv AI Inc.