Predictmedix announces its first significant North American sales contract
TORONTO, ON / ACCESSWIRE / May 20, 2020 / Predictmedix Inc. (CSE:PMED) (OTCQB:PMEDF) ('Predictmedix' or the 'Company') is pleased to announce the execution of a sales contract for its COVID-19 screening technology with Juiceworks Exhibits ('Juiceworks'), a full-service design and build company that creates brand experiences for leading brands across North America with operations both in Canada and the USA.
Utilizing Predictmedix COVID-19 mass screening technology, Juiceworks is offering safe indoor/outdoor entry solutions using custom-fabricated temporary structures. All of the entry solutions being sold by Juiceworks across North America will be retrofitted with Predictmedix technology for COVID-19 mass screening.
Predictmedix technology will be deployed using a software as a service ('SaaS') model whereby for every camera or scanner installation, there will be an upfront customization fee followed by a monthly subscription fee model based on the number of screenings contributing to recurring revenue on a monthly basis. The contract is a multi year contract which can be extended up to 3 years.
'We are confident we have found the right partner in Predictmedix whereby together we can be part of the solution to the crisis facing our society. Their best-in-class screening technology pairs perfectly with our ability to custom-fabricate quickly and efficiently. This affords us the opportunity to make a truly meaningful contribution in assisting communities throughout North America looking to safely re-ignite.', said Jonathan Auger, CEO of Juiceworks Exhibits.
'We are excited to be working with Juiceworks. Their large and diverse client base spreads across the US and Canada and along with their market share in the convention industry, can lead to significant revenue growth for Predictmedix not just for COVID-19 mass screening but also for impairment detection technology. Our sales team is working around the clock to monetize and implement our technology into the North American community.', said Dr. Rahul Kushwah, COO of Predictmedix.
Utilizing Predictmedix COVID-19 screening technology, Juiceworks is offering safe indoor/outdoor entry solutions using temporary structure solutions. Outdoor entries include: contactless doors, UV lamps for sterilization of personal items, air conditioning and safe air ventilation. Indoor entry solutions offer a non-invasive footprint which can be quickly assembled in lobbies before occupants proceed further into the building.
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Founded in 1995 by Jonathan Auger, JUICEWORKS Exhibits began as a one-man team, servicing the exhibit marketing industry as an installer. Forging relationships at every turn, while consistently providing excellent customer service, Jon quickly earned the respect of clients and industry peers. This ultimately resulted in a substantial client increase and agency partners throughout North America. Today, with 2 North American locations (Toronto, Las Vegas), JUICEWORKS continues to deliver award-winning projects.
Their exponential growth is evident in being recognized by Growth 500 as one of Canada's fastest growing companies 3 years running as well as Lenovo's small business of the year award for 2019. Their customer-centric business model is built on hard work, communication and a dedicated team, committed to upholding the core values exhibited by it's Founder and President. JUICEWORKS is acknowledged by clients globally as the go-to supplier for innovative design, quality craftsmanship and production. They have grown to represent some of the world's most recognized cross-sector brands.
Their offerings include commercial/retail space design and production, pop-up shops, custom exhibit/event fabrication, experiential marketing, mobile marketing initiatives, museums and general contracting for events. Regardless of the task, their diverse team of experts take each project through concept to successful execution. Their primary goal is to continually win their client's respect and approval on a job well done. To find out more visit: https://www.juiceworks.ca/
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 has partnered with Tech Mahindra and Hindalco to help expedite the launch of its impairment technology, as well as the prestigious Indian Institute of Technology.
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 diseases such as influenza and coronaviruses (COVID-19). Our current partners along with advisory board members have played a key role in gathering data pertaining to COVID-19, which has allowed us to develop a predictive mass screening tool for COVID-19. The technology is for mass screening and is to be used to predict and identify individuals who have the highest likelihood of being infected with COVID-19.
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 mass screening product has the ability to 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: 647 889-6916
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.
SOURCE: Predictmedix Inc.
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