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Message: Datametrex Receives Third COVID-19 Order from TV Production Company
Toronto, Ontario--(September 21, 2020) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTC Pink: DTMXF) (the "Company" or "Datametrex") is pleased to announce that it has received a third Purchase Order ("P.O.") for COVID-19 screening solutions from Are You Afraid of the Dark Inc., a Canadian horror anthology television miniseries based in Vancouver, British Columbia.
The miniseries is produced by Nickelodeon Productions and distributed by MTV Networks in the United States and YTV in Canada, a Corus Entertainment company. Nickelodeon, now in its 41st year, is the number one entertainment brand for kids. Nickelodeon and all related titles, characters and logos are trademarks of Viacom Inc.
The initial P.O. is for approximately $210,000 for a month, commencing on October 5, 2020. This production is scheduled to run for three (3) months, totalling $630,000. Datametrex anticipates that it will have little or no upfront costs associated with importing and selling these test kits.
As previously stated, Vancouver is the third-largest production centre in North America, worth CDN $3.2 Billion during 2018/19, according to Creative BC. British Columbia is home to several world-class Film and TV studios, including Bridge Studios, Mammoth Studios, Vancouver Film Studios, North Shore Studios, Ironwood Studios, Canadian Motion Picture Park, and The Crossing Studios.
Entire film and TV production in Canada represent $8.92 Billion in production volume, and full-time equivalent jobs represent 179,000 workers. In March 2020, the industry stopped worldwide, including in Vancouver, which represents 37% of Canadian Productions. The surrounding areas of Vancouver had 46 productions filming, which does not include the TV commercial market. Each of the shows potentially had a minimum of 100 people in their film crew.1
The next largest film and television market is Ontario, which represents 34% of Canadian productions. In 2019, Toronto's film and television industry directly employed more than 28,000 people representing $3.17 Billion in production volume.
Additionally, with Canada having far fewer cases of COVID-19 than in the United States on a per capita basis according to data compiled by Johns Hopkins University, it demonstrates that Canada is a safer jurisdiction for filming and an advocate for the film industry, with our testing kits, collection services and labs already set up.
"With Vancouver productions quickly returning to the studios and filming, we feel that this is the tip of the iceberg for new film business for COVID-19 screening business," said Marshall Gunter, CEO of the Company.
Datametrex AI Limited is a technology-focused 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, 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.
This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not historical 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 time such forward-looking information is made. 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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