TORONTO, July 20, 2020 (GLOBE NEWSWIRE) -- Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV: DM, FSE: D4G) is pleased to announce that it has successfully been awarded the third milestone of a multi phase R&D program through Canada’a Department of National Defence Innovation for Defence Excellence and Security (“IDEaS”) program.
The Company will be receiving approximately $208,800.00 CAD for Component 1b Milestone 3, to further develop Nexalogy SMART, Social Media Automated Reporting Technologies, while also expanding its fake news and narrative detection technologies.
IDEaS was announced in Canada’s new defence policy, Strong, Secure, Engaged, and commits to $1.6 billion of investment in innovations for defence and security over the next 20 years. IDEaS supports the development of solutions from their conceptual stage, through prototype testing and capability development. The program includes several elements that promote collaboration between innovators, provides developmental resources and provides opportunities to interact with DND’s science and military members. Through which all innovators are on an even playing field to solve specific defence and security challenges.
For more info about the IDEaS program please visit Department of National Defence at: Innovation for Defence Excellence and Security (IDEaS)
“Milestone 3 completion greenlights the final phase of development for Nexalogy SMART and reflects important progress for helping the Government of Canada maintain a technological advantage in the realm of cyber social media security. We are happy to have the go ahead to continue the contract,” says Marshall Gunter, CEO of the Company.
For more information on this project or to learn how Datametrex can assist your organization in social media discovery, Fake News Filters and BOT detection please go to: www.nexalogy.com.
Datametrex AI Limited is a technology-focused company with exposure to Artificial Intelligence and Machine Learning through its wholly owned subsidiary, Nexalogy (www.nexalogy.com). Datametrex's mission is to provide tools that support companies in fulfilling their operational Health and Safety goals with predictive and preventive technologies. By working with companies to set a new standard of protocols through Artificial Intelligence and health diagnostics, the Company provides progressive solutions to support the supply chain.
Additional information on Datametrex is available at www.datametrex.com.
For further information, please contact:
Marshall Gunter - CEO
Phone: (514) 295-2300
This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.
Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.