Scoring and Financing Update – March 23, 2021
Calgary, Alberta – March 23, 2021.
For Immediate Release – Medxtractor Corp. (“MXT”) updates the SHAMAN psychedelics artificial intelligence project and the state of the previously-announced financing closing.
Medxtractor Corp. (the “Company”) reports that SHAMAN’s Scoring Algorithm (SA-V.1), designed to score incoming EEG records prior to their addition to the Reference Database (“RD”), has been successfully tested.
Jim Durward, President, states: “The SA-V.1 contains EEG-based probability routines for a series of mental afflictions, including multiple depression types, OCD, PTSD and anxiety. As is typical of algorithm development, further revisions are expected prior to SHAMAN’s general release and as the RD grows and testing proceeds over time. Our Record gathering process is working well with new Records being added regularly to the Reference Database. With over $2,300,000 in cash in the bank, no debt and continuing cash flow from our extractor division I believe we are well positioned to accelerate our development on all SHAMAN fronts.”
ABOUT MEDXTRACTOR CORP:
The Corporation is a Calgary-based company that generates technologically-based solutions. With installations all over the world, its patented craft-scale bio-extractors are used to extract compounds from a variety of botanical materials. The SHAMAN division is focusing on applying machine learning to predict potential benefits associated with the use of psychedelic drugs within the mental health misdiagnosis problem.
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.