Medxtractor provides a corporate update
Calgary, Alberta – September 14, 2021
For Immediate Release – Medxtractor Corp. (“MedX” or the “Corporation”) (CSE: MXT, OTC:MXTTF) provides a corporate update.
Medxtractor (“MedX” or the “Corporation”) (CSE: MXT, OTC:MXTTF) reports progress as follows:
1. The Corporation’s proprietary Reference Database now contains over 1000 reference records consisting of extensive, biometric and associated electroencephalogram (“EEG”) data. The Reference Database development is expected to meet the completion target of October 31, 2021.
2. the Corporation’s mental health guidance grid known as a Contextualizer (“MCT”) is designed to be used in combination with associated EEG data to predict probabilities for up to nine underlying mental health conditions. The MCT has now been completed by a highly qualified Psychologist and Psychiatrist and contains over 19,000 data elements that are now being incorporated into supervised machine-learning (“SML”) algorithms.
James Durward, President, states: “Delivery of the MCT is a major step forward in the development of our mental health diagnostic application. While machine-learning provides fast, deep correlation and mathematical rigor, it does not provide context. MCT provides context by extensive scoring of data element relationships with mental conditions. We also expect a physical health Contextualizer, PCT, to be delivered within the next 30 days and I believe that these Contextualizers coupled with the Reference Database will provide highly-advanced mental and physical health diagnostic tools for professionals and mHealth consumers alike.”
MedX also reports that it has instructed legal counsel to initiate a name change to “nDatalyze Corp.” to more accurately reflect the Corporation’s future direction.
nDatalyze Corp. will focus on specialized database development and machine-learning applications. A new website is under development and expected to launch in the near future.
ABOUT MEDXTRACTOR CORP:
The Corporation is a Calgary-based company that generates technologically-based solutions. The SHAMAN division is focusing on applying machine learning to predict potential benefits associated with the use of psychedelic drugs within the mental health sector and the YMI division is developing a data-driven consumer mHealth application. With installations all over the world, its legacy craft-scale bio-extractors are used to extract compounds from a variety of botanical materials. Readers are advised that both SHAMAN and the YMI mHealth application require further development and accordingly the Corporation is not currently making any express or implied claims that the applications can, or will be able to, generate accurate results or profits.
FOR FURTHER INFORMATION, PLEASE CONTACT:
James M. Durward, President and CEO
Telephone: (403) 689-3901
Email: [email protected]
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Corporation believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.