TORONTO, Jan. 5, 2021 /CNW/ - Predictiv AI Inc.
(TSX-V: PAI) (OTC: INOTF) (FSE: 71TA) ("Predictiv AI"
or the "Company"), a software and solutions provider in
the artificial intelligence markets, is pleased to provide a
corporate update detailing the milestones and growth initiatives
accomplished throughout the year and their strategic significance
going forward.
Predictiv AI's 2020 Corporate Highlights:
- Appointed Michael Lende as
President, CEO, and to the Board of Directors.
- New management team, led by experienced and entrepreneurial
leaders in the artificial intelligence and data-science space
appointed.
- Completed two non-brokered private placement financings for
gross proceeds of $2.75 million.
- Completed corporate name change to Predictiv AI Inc. (formerly
Internet of Things Inc.). In addition, the Company consolidated its
outstanding common shares at a ratio of 1 post-consolidation share
for 5.5 pre-consolidation shares. The name change reflects the
corporation's broader commitment and expertise in accelerating
artificial intelligence (AI) and machine-learning innovations.
- Established AI Labs Inc. ("AI Labs") as a wholly-owned
subsidiary, to design and develop new products. The initial
innovation from AI Labs from concept to working prototype was
ThermalPass, a sensor-based temperature screening system for
entrances to factories, supermarkets, schools, office buildings,
mass-transit stations, hospitals, long-term care facilities, and
other high-traffic locations.
- Established SMRT Labs Inc. ("SMRT Labs") as a joint venture
company to commercialize ThermalPass. SMRT Labs is owned 51% by AI
Labs and 49% by Commersive Solutions Corp., a developer of
integrated, point-of-sale technologies that creates unique retail
experiences.
- Commercialized ThermalPass under SMRT Labs Inc., offering two
SKU's, the ThermalPass Portable (US $6,900) and ThermalPass Pro (US $7,300).
- Received orders for 62 units of ThermalPass following the
commercial launch in mid-October
2020, including initial orders from hospitals, long-term
care facilities and prisons in Canada, as well as hospitals and public
schools in the US;
- Completed development of Alert Fleet, a cost-saving
software/sensor system that provides fleet owners with the tools
they need to run significantly safer and more efficient fleets
through Weather Telematics Inc. ("Weather Telematics"), a
wholly-owned subsidiary of Predictiv AI.
- Formed a new strategic channel partnership with inField
Solutions Inc. to commercialize Alert Fleet.
- Entered into a collaboration agreement with IBI Group Inc. and
Weather Telematics, to develop the Winter Ice and Snow Decision
Support System for Operations Management (WISDOM) platform -- a
resource management and decision support tool to assist in the
effective and timely response to winter road conditions.
- Secured a multi-year agreement with Synoptic Data PBC for data
provision services. This licensing contract will generate
seven-figure revenue over the term for Weather Telematics and will
launch its next generation of weather and road temperature sensors,
which turns vehicles into their own mobile weather stations.
"In 2020, we achieved a number of key milestones at Predictiv AI
in R&D, sales and marketing, operations and corporate
development. On behalf of our leadership team and board of
directors, I would like to thank our shareholders and strategic
partners for their unwavering commitment to the company," said
Michael Lende, President and CEO of
Predictiv AI. "Our goals for 2021 are to continue to extend and
strengthen our innovative product portfolio, to ramp up sales of
ThermalPass and AlertFleet, both internally as well
as through strategic channel partners, and to continue targeting
whitespace categories and verticals which we view as innately
scalable. In 2021, our focus remains on building the business by
increasing revenue and driving shareholder value."
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 and Alert Fleet achieving the
commercial results anticipated by the Company; market demand for
ThermalPass and Alert Fleet; 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
SOURCE Predictiv AI Inc.
