VANCOUVER, BC, Aug. 11,
2022 /CNW/ - Minerva Intelligence Inc. (TSXV:
MVAI) ("Minerva" or "the Company"), an artificial intelligence
software company focused on building decision support tools for
climate risk, mineral exploration and mining, reports One
Proof-of-Concept sold during the month of July 2022 of its AI software DRIVER.
DRIVER software is licensed on an annual recurring basis,
allowing Minerva to build and maintain customer relationships as
well as a reliable revenue stream. Minerva offers three license
levels for end-user clients of varying size, as well as an
upgradable limited-term Proof-of-Concept license.
Year to date Minerva has sold Ten Proof-of-Concepts and Four
Annual Licenses. Based on investor feedback, Minerva will no longer
be reporting the amount of demonstrations made during the month.
Minerva will continue to report licenses sold on a monthly
basis.
Minerva CEO Scott Tillman
commented "A busy drilling season for mining and exploration
companies coupled with a general summer slow down led to a decline
in Proof-of-Concepts sold for the month of July. Changes have been
made to the composition of our sales and marketing team which will
reflect in an uptick of sales in the coming months. Simultaneously,
we are working with large prospects to improve the functionality of
DRIVER and expect to have an improved version ready for debut in
September."
Minerva is a proud sponsor of the upcoming Digitization in
Mining Conference in Toronto
August 31st to
September 1st. For more
information on this upcoming event please visit:
Digitalization in Mining North America 2022 (swoogo.com)
DRIVER is Minerva's proprietary AI product developed to service
the mineral exploration and mining industry by helping them better
evaluate drill data to pinpoint superior drill targets, understand
geometallurgical domains, and conduct more thorough, rapid,
accurate 3D modeling. DRIVER combines cloud processing capabilities
with Minerva's proprietary machine learning technology to
automatically evaluate the spatial continuity present in geological
numeric data. DRIVER automatically creates 3D models of all aspects
of the dataset within a matter of minutes, and automatically
identifies and catalogues the important zones of interest. These
insights are incredibly valuable for exploration, metallurgy,
environmental protection, and mining. Minerva's partnership and
business development team is targeting qualified leads at mining,
mineral exploration and mineral streaming companies around the
world.
More information on DRIVER can be found on Minerva's DRIVER
homepage, www.minervaintelligence.com/DRIVER
About Minerva Intelligence
Inc.
Minerva Intelligence Inc. is an artificial intelligence software
company based in Vancouver,
Canada, with a subsidiary office in Darmstadt, Germany. Their software is helping decision
makers better understand the earth. Minerva's applications focus on
the search for critical metals and for climate risk mitigation;
however, its proprietary AI software has application in diverse
industries and domains. Minerva's common shares are currently
listed on the TSX Venture Exchange (symbol MVAI). For further
details, please refer to their website www.minervaintelligence.com
or follow Minerva on Twitter or LinkedIn.
Cautionary Note Regarding
Forward-Looking Statements
Forward Looking Information: This news release includes
certain information that may be deemed "forward-looking
information". Forward-looking information can generally be
identified by the use of forward-looking terminology such as "may",
"will", "expect", "intend", "estimate", "anticipate", "believe",
"continue", "plans" or similar terminology. All information in this
release, other than information of historical facts, including,
without limitation, the availability of financing to the Company
are forward-looking information that involve various risks and
uncertainties. Although the Company believes that the expectations
expressed in such forward-looking information are based on
reasonable assumptions, such expectations are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking information.
Forward-looking information is based on a number of material
factors and assumptions. Factors that could cause actual results to
differ materially from the forward-looking information include
changes in project parameters as plans continue to be refined,
future metal prices, availability of capital and financing on
acceptable terms, general economic, market or business conditions,
regulatory changes, delays in receiving approvals, and other risks
detailed herein and from time to time in the filings made by the
Company with securities regulatory authorities in Canada. Mineral exploration and development of
mines is an inherently risky business. Accordingly, actual events
may differ materially from those projected in the forward-looking
information. For more information on the Company and the risks and
challenges of our business, investors should review our continuous
disclosure filings which are available at www.sedar.com. Readers
are cautioned not to place undue reliance on forward-looking
information. The Company does not undertake to update any
forward-looking information, except in accordance with applicable
securities laws.
The TSX Venture Exchange has neither approved nor disapproved
of the contents of this press release. 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 press
release.
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SOURCE Minerva Intelligence Inc.