Good News :) Toronto, Ontario--(Newsfile Corp. - August 1, 2023) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex'') is pleased to provide an update to its wholly-owned subsidiary, Nexalogy Environics Inc. ("Nexalogy"). Further to the news release announced on May 1, which highlighted the successful completion of phase 2 of the Canadian Government AI project, the Company is pleased to report that the criteria for completion of the R&D phase of the project have been met and that the project will be transitioning into the next phase, towards commercialization. The advancement to the next phase will allow Nexalogy to apply its initiatives on a larger scale.
During this next phase, the Government will rigorously assess the readiness of the work in real-world environments specifically tailored for their audiences.
With the project moving beyond purely R&D and into complete and qualified levels, the current R&D project funding sources will need to be replaced with higher-level and expanded funding sources. The Canadian Government remains committed to the program and intends to continue the project to completion.
The Company continues to work closely with the companies and clients collaborating on the project to ensure all goals can be met while another funding source is identified. Any ongoing operational activities are unaffected. The company will provide further updates to investors as developments progress.
"We are pleased about the progress made in collaboration with our partner companies and the Canadian Government to enhance the NexaSMART technology for crucial cybersecurity initiatives. By moving to real-world testing, we believe this technology has the potential to play a pivotal role in safeguarding critical information for military and government applications and look forward to entering the next phase of the project," said Marshall Gunter, CEO of the Company