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Newsfile Corp Toronto, Ontario--(Newsfile Corp. - January 13, 2022) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex") is pleased to announce that the Company, along with its consortium partner, won the bid on a multi-phase R&D program contract on January 12, 2022. This contract is a multi-phase Canadian Artificial Intelligence ("AI") bid that was previously announced on October 25, 2021 with the potential fully realized contract worth approximately $40 million CAD. Upon the successful completion of this phase, the Company will move to the next phase of work. The Company has been tasked to collaborate with its partner using Datametrex's Social Media Automated Reporting Technologies ("SMART") to speed up time to insight in investigating Social Media Influencer Activities. Due to confidentiality requirements, the Company is not permitted to provide details about the contract and the scope of work. According to the analysts of Mordor Intelligence, the cybersecurity market* was valued at USD $156.24 billion in 2020, and it is expected to reach USD $352.25 billion by 2026, registering a Compound Annual Growth Rate ("CAGR") of 14.5% during 2021-2026. Rapidly increasing cybersecurity incidents and regulations requiring their reporting are driving the cybersecurity market. (Sourced online January 11, 2022: https://www.mordorintelligence.com/industry-reports/cyber-security-market) "This is a major milestone we accomplished for Datametrex. This will be a pivot for us to attract other high-profile customers to our AI business. Our selection on the next phase of the program is strong evidence in our superior AI solutions," commented Andrew Ryu, Chairman of the Company. "This proves that our technology will help maintain a technological advantage in the state of social media cyber security. We are excited to commence this next phase of this large contract," says Marshall Gunter, CEO of the Company. |