TORONTO, Dec. 6, 2018 /CNW/ - Imex Systems Inc. ("Imex" or
the "Company") (TSXV: IMEX, OTC: IMSYF) a software solution
provider to Governments, Municipalities and Public Authorities is
pleased to announce it has signed a licensing and reseller
agreement with Datametrex AI Limited, ("Datametrex") of
Toronto, ON, for its wholly owned
subsidiary Canntop AI ("Canntop"). Under the licensing and reseller
agreement, GovCann will utilize Canntop's AI platform to provide
governments, law enforcement and health and safety organizations
with highly actionable, geo-targeted cannabis data analytics.
Canntop builds atop Datametrex's multi-year track record of
successfully working with various Canadian federal agencies
including Health Canada, where the company's technology targeted
key trends and social discovery and allowed Health Canada to gain
deeper insight into usage and patterns and compile real-time data
from multiple sources: cannabis partners, government agencies and
social media. Canntop AI's unique selling point is the conversation
sculpting and clustering algorithms providing the ability for
non-data savvy personnel to discover new insights and clean
unstructured text.
"This is a tremendous opportunity for Canntop to build upon
Imex's existing relationships and previous contracts with various
Government Agencies. We believe there will be tremendous demand by
various groups for clear, concise and actionable social data
analysis surrounding the Cannabis sector," says Andrew Ryu, CEO and Chairman of the Company.
Under the Agreement, Imex will issue CDN $180,000 of IMEX shares to the Datametrex for the
right to utilize their Canntop platform and service offering for an
initial 30-month auto-renewal contract. The issuance of IMEX shares
is subject to regulatory exchange approval and conditions. In
addition, Imex will pay Datametrex 15% royalty fee to Canntop for
all revenue generated from the platform.
"We are very excited to be partnering with Canntop as they have
demonstrated that their leading-edge cannabis social intelligence
platform will help governments, law enforcement and health &
safety organizations understand cannabis usage, challenges and
concerns and create actionable plans to address them", said
Robert Klein, CEO of Imex, "GOVCANN
is being designed to assist governments educate, communicate and
engage their communities which we believe is critical to the
development of the responsible, safe cannabis industry in
Canada, and by partnering with
Canntop, we will be providing governments with key intelligence
they need to address this burgeoning market".
About Datametrex AI Limited
Datametrex AI Limited is a technology focused company with
exposure to Artificial Intelligence and Machine Learning through
its wholly owned subsidiaries, Nexalogy (www.nexalogy.com) and
Canntop AI (www.canntop.com) and Implementing Blockchain technology
for secure Data Transfers through its investee company, Graph
Blockchain (www.graphblockchain.com).
About Imex Systems
Imex Systems Inc. is a Canadian software products and solution
provider to Governments, Municipalities and Public Authorities in
Canada and internationally. Imex
primarily focuses on E-Government and the Smart Cities market that
also include the integration to payment processing. The
company helps public sector entities to provide "Any Time, Any
Where, Any Device and Any Channel" convenience for citizens to
access government services and help with digital transformation of
government operations and streamline revenue. Imex's various
product and service offerings include: i-Gov - a Digital
Government Platform for all levels of governments, which provides
all the pre-built components for building an effective Digital
Government and supporting payment processing through multiple
channels; iCity - a Smart City Solution;
and miGov - a Mobile Government Framework.
Forward-Looking Statements
This news release contains certain "forward-looking information"
within the meaning of applicable Canadian securities laws. Any
statements that involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions,
future events or performance (often but not always using phrases
such as "expects", or "does not expect", "is expected",
"anticipates" or "does not anticipate", "plans", "budget",
"scheduled", "forecasts", "estimates", "believes" or "intends" or
variations of such words and phrases or stating that certain
actions, events or results "may" or "could", "would", "might" or
"will" be taken to occur or be achieved) are not statements of
historical fact and may be forward-looking information and are
intended to identify forward-looking information.
This forward-looking information is based on reasonable
assumptions and estimates of management of the Company at the time
it was made, and involves known and unknown risks, uncertainties
and other factors which may cause the actual results, performance
or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking information. Forward-looking information in
this news release include, but are not limited to, statements with
respect to: increased sales from existing customers and new
customers and the potential opportunities to be created from the
joint venture with BGC related to mobile payments and cyber
security. Forward-looking information necessarily involve known and
unknown risks, including, without limitation : the need for
approvals from the relevant government body; future capital needs
and uncertainty of additional financing; the competitive nature of
the industry; the effects of product development and need for
continued technology change; and those risks set out in the
Company's public documents filed
on www.sedar.com.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially, there may be
other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such
statements will prove to be accurate as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking information. The Company undertakes no obligation
to revise or update any forward-looking information other than as
required by law.
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in policies of the TSXV) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Imex Systems Inc.
