AGORACOM Small-cap Investor Relations Blog

• Company has sold approximately 30,000 test kits and 7 PCR (Polymerase Chain Reaction) machines to several Canadian companies
• Total gross sales of approximately $1.5 million CAD
• Datametrex has little or no upfront costs associated with the sale of these test kits
• Company’s project pipeline is significant on both the COVID-19 test kits and Personal Protective Equipment based on multiple projects in various stages of development across Canada, US, Africa, Asia, Australia and the EU

TORONTO, June 18, 2020 – Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV: DM, FSE: D4G, OTC: DTMXF) is pleased to share a corporate update that since announcing on April 16, 2020, that it secured the rights to import and sell high-quality South Korean manufactured Nucleic Acid COVID-19 test kits.

Datametrex continues supporting companies through facilitating COVID-19 test kits, along with big data AI analytics tools that can help target future outbreaks, potentially source fake news that can be detrimental to the operations, or even visualize the audience that needs the fastest response in these critical times.

NEW REVENUE

The Company has sold approximately 30,000 test kits and 7 PCR (Polymerase Chain Reaction) machines to several Canadian companies, for total gross sales of approximately $1.5 million CAD. Datametrex has little or no upfront costs associated with the sale of these test kits.

HIGHLIGHTS

• Since May 15th, Datametrex has generated gross sales of $500,000 with the sale of 10,000 test kits and one (1) PCR machine to a large Canadian mining company with operations in West Africa.
   
• Since June 8th, Datametrex has sold $810,000 with initial orders comprising of 12,000 test kits and six (6) PCR machines to two Canadian companies.
  
  
• On June 9th the Company arranged with lab partner Transpharm Canada Inc. (“TCI”) to conduct ongoing testing for a private Quebec metal mining company with an initial order of 2,000 test kits generating gross sale of approximately $250,000 for Datametrex.

“With the resurgence of a second wave of COVID-19 in multiple countries, and with a worldwide attempt to reduce lockdown measures to get citizens back to work, the demand for testing will only increase. These rapid antibody-based tests are a vital tool for jumpstarting the economy,” says Marshall Gunter, CEO of the Company. “Datametrex is pleased to facilitate the sale of these test kits globally providing worldwide, the opportunity to use top quality test kits to flatten the curve and get back to the “new normal” safely.”

Advisory Board and New Personnel

On May 4th, Todd Shapiro consented to join the Board of Directors of Datametrex. After being a top rated Radio Show host & a brilliant marketing Entrepreneur with over 20 years of experience, he has recently moved on from main stream media to concentrate his efforts on being the CEO of Red Light Holland. Todd currently sits on the Board of Directors for Red Light Holland, JamStacked and Mogul Productions.

On May 19th, Datametrex added President and Dean of the Toronto Institute of Pharmaceutical Technology (“TIPT”) and Clinical Pharmacologist, Dr. Alexander MacGregor, Ph.D., to the Company’s Medical Advisory Board.

On June 10th, the Company welcomed Edward Choi, to head up the sales team in Seoul, South Korea. Edward was a Vice President at LOTTE for leading Lotte’s cyber security division.

Datametrex Pipeline

The Company’s project pipeline is significant on both the COVID-19 test kits and Personal Protective Equipment (“PPE”) based on multiple projects in various stages of development across Canada, US, Africa, Asia, Australia and the EU. We are waiting for PO approvals with specified COVID-19 sales and or tender proposal process. The Company will recognize revenue upon sale and shipment of the test kits. The Company will also receive additional revenue streams as we secure new business and continue to provide Ai services, fullfill contracts and or supply agreements to goverments, corporate customers upon fulfillment.

About Transpharm Canada Inc.

Transpharm Canada Inc. provides pharmaceutical education, technology, and research opportunities to students through its subsidiary, Toronto Institute of Pharmaceutical Technology, North America’s premier pharmaceutical training institute. The facility is also fully compliant Health Canada licensed Good Manufacturing Practice (“GMP”) manufacturing and testing facility and is a full-service clinical development business that provides clinical trial services to biotechnology companies. Additional information on TIPT is available at www.tipt.com

About Datametrex

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 goals, including Health and Safety, 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
Email: [email protected]

Neither the TSX Venture Exchange nor it’s 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.

Forward-Looking Statements

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.

– Secured non-exclusive rights to sell RapiGEN Inc. (“RapiGEN”) COVID-19 home test kitsi.

– These test kits are FDA registered, suitable for point of care testing, no extra equipment is needed, and are easy to use with results in 5-10 minutes.

TORONTO, June 16, 2020 – Datametrex AI Limited (the “Company” or “Datametrex“) (TSXV: DM, FSE: D4G, OTC: DTMXF) is pleased to announce that it has secured non-exclusive rights to sell RapiGEN Inc. (“RapiGEN”) COVID-19 home test kitsi. These test kits are FDA registered, suitable for point of care testing, no extra equipment is needed, and are easy to use with results in 5-10 minutes.

If the specimen contains IgM antibodies to SARS-CoV-2, a colored line appears in the T line area. The RapiGen home test kit is a lateral flow immunochromatographic assay (LFIA) for the qualitative detection of IgG antibodies to COVID19 in blood, serum or plasma specimens.

Watch the sample video of the test here: https://datametrex.com/investor/video.html

The Company’s primary goal is to sell to the current clients for their operations out of Canada, and the Company intends to apply for Health Canada approval with an Interim Order (“IO”).

“These test kits are revolutionary in expediting the process of testing since it cuts out the processing time by a fraction, aiding in an earlier detection of the virus, a more accurate prediction of the positive cases and a decrease of the infection rate,” said Marshall, CEO of the Company.

“Having seen the urgent need for COVID-19 test kits, Datametrex is doing everything it can to help Canada combat COVID-19 and flatten the curve. In the meantime, having FDA registration under EUA allowing us to help our neighbours to the south and any Canadian company with operations in the US and Europe,” says Andrew Ryu, Chairman of the Company.

The Company’s ability to fulfill any purchase order for Covid-19 test kits is subject to the availability of inventory at the time of order. Due to the extraordinarily high demand for COVID-19 test, there is volatility in the supply chain and available supply may fluctuate on a daily basis. Datametrex anticipates that it will have little or no upfront costs associated with importing and selling these test kits.

The Company is exploring oportunities with Michigan Economic Development Corporation and Governor’s Office of Business and Economic Development in California looking into retail, film, healthcare oportunities. With months into the spread of the COVID-19 in Califoria, widespread diagnostic testing still isn’t available. Testing voids, stemming from an overwhelmed supply chain and a disjointed public health system, have hit hardest in California’s rural north. The Michigan Department of Health and Human Services, Michigan State Police, and local health departments are looking to expand COVID-19 testing directly to the community. Michegan now is easing coronavirus restrictions with six-part reopening plan that includes testing to ensure the state lowers the chance of a second wave and to further protect Michigan families.

About RapiGEN Inc.
RapiGEN has the manufacturing technology of Gold colloid which is the core material of immunochromatographic assay. RapiGen has developed a convenient, quick and accurate diagnostic kit, focused on developing distinctive next-generation diagnostic kits from existing products. Currently researching and developing various diagnostic kits for increasingly epidemic pathogenesis such as Covid-19, Shigella, Cholera and Entrohemorrhagic E.coli. Additional information on RapiGEN is available at http://rapigen-inc.com/

About Food and Drug Aministration EUA
On February 4, 2020, pursuant to Section 564(b)(1)(C) of the Act, the Secretary of the Department of Health and Human Services (HHS) determined that there is a public health emergency that has a significant potential to affect national security or the health and security of United States citizens living abroad, and that involves the virus that causes COVID-19. Pursuant to Section 564 of the Act, and on the basis of such determination, the Secretary of HHS then declared that circumstances exist justifying the authorization of emergency use of in vitro diagnostics for detection and/or diagnosis of the virus that causes COVID-19 subject to the terms of any authorization issued under Section 564(a) of the Act.

About Datametrex
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 goals, including Health and Safety, 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
Email: [email protected]

Neither the TSX Venture Exchange nor it’s 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.

Forward-Looking Statements

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.

i Source: FDA [RAPIGEN INC] – BIOCREDIT COVID-19 IgG+IgM Duo -https://www.accessdata.fda.gov/scripts/cdrh/cfdocs/cfRL/rl.cfm?lid=680769&lpcd=QKO    

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5d8342b8-7212-4584-8839-edd666c79914

RapiGEN COVID-19 Home Test

RapiGEN COVID-19 home test kit procedure instructions.