Datametrex Awarded $945,094.00 Contract from Defence Innovation Program
October 03 2019 - 06:00AM
Datametrex AI Limited (the
“
Company” or “
Datametrex”)
(
TSXV: DM, FSE: D4G) is pleased to announce that
it has successfully been awarded the second contract of a multi
phase R&D program through the Department of National Defence’s
Innovation for Defence Excellence and Security (IDEaS) program .
The Company will be receiving approximately $945,094.00 CAD for
Component 1b, to further develop Nexalogy SMART, Social Media
Automated Reporting Technologies, while also expanding its fake
news and narrative detection technologies. This brings the total
value of this opportunity to approximately $1,144,594.00 CAD. If
the Company is successful completing this project, it could be
eligible for additional funding to continue the development of the
product.
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 program, see here:
https://www.canada.ca/en/department-national-defence/programs/defence-ideas.html
“This is a solid validation of the work Nexalogy is doing to
help secure the safety of Canadians from cyber threats. Working
with the Canadian government to build new tools that will be
utilised by the military and then be applied to the corporate
environment is a key driver for technical advancement in our
country.” says Andrew Ryu, Chairman and 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
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).
For more information about the IDEaS program
please visit: Canada.ca/defence-ideas
For further information, please
contact:
Jeff Stevens - President & COOPhone: (416) 482-3282Email:
jstevens@datametrex.com
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”,
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similar words, expressions and grammatical variations thereof, or
statements that certain events or conditions “may” or “will”
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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.
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