Fintech
Datametrex Sold over 23,000 COVID-19 PCR Tests in Q4
Toronto, Ontario–(Newsfile Corp. – January 12, 2021) – Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTC Pink: DTMXF) (the “Company” or “Datametrex”) is pleased to announce that it sold over 23,000 onsite tests for the film industry at locations in Montreal, Toronto and Vancouver for the months of October through December 2020. This represents approximately $4,000,000 CAD in top-line revenue for Q4. As stated on September 24th, 2020, the company secured contracts with one of the worlds largest film and television production companies to provide PCR test kits. The total amount of the contracts if fully executed was over $20M CAD. Datametrex has increased its lab and testing capacity to facilitate demand and has positioned the Company to ramp up testing in 2021. The Company plans to continue increasing its capacity to expand its services to additional film and production companies as their demand increases daily.
Major Hollywood studios and streamers have kept shooting movies and TV series on film and TV sets in Montreal, Toronto, and Vancouver while weathering the most recent record COVID-19 infection rates in Canada.
The long-term and short-term consequences of the COVID-19 emergency across North America will remain through 2021 and into 2022, we believe. The Canadian film industry has avoided closures of film sets with continuous COVID-19 testing. As the pandemic once again rapidly accelerates throughout the United States and Canada, it will bode well for Datametrex, as productions will persist in coming north to film for the ever-expanding streaming platforms.
“Our strong revenue growth reflects our focus on our experience within the film industry as well as our ability to roll out new shows seamlessly,” said Marshall Gunter, CEO of Datametrex. “With our pre-screening and screening tools, the film industry can continue to start new productions that provide much-needed content to the ever-expanding streaming services worldwide.”
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 and in Vancouver which represents 37% of Canadian Productions, and the surrounding areas had 46 productions filming which does not include the TV commercial market. Each of the shows would have a minimum of a 100-person film crew.
The next largest film and television market is Ontario which represents 34% of Canadian Productions and in 2019, Toronto’s film and television industry directly employed more than 28,000 people representing $3.17 Billion in production volume. [1]
About Datametrex
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, the Company provides progressive solutions to support the supply chain.
For additional information on Datametrex and other corporate information, please visit the Company’s website at www.datametrex.com.
For further information, please contact:
Marshall Gunter – CEO
Phone: (514) 295-2300
Email: mgunter@datametrex.com
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.
Forward-Looking Statements:
All statements included in this press release that address activities, events, or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. In particular, there is no guarantee that the parties will successfully negotiate and enter into a definitive agreement on mutually acceptable terms or complete the Transaction in the manner contemplated herein, if at all, that the due diligence of any of the parties will be satisfactory, or that the parties will obtain any required board, shareholder, third-party and/or regulatory or other governmental approvals, if any. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
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