NEWS RELEASE
nDatalyze Corp. (“NDAT” or the “Corporation”) (CSE:NDAT) (OTC:NDATF) announces an expansion of its YMI validation project.
Calgary, Alberta – October 17, 2023
For Immediate Release – nDatalyze Corp. (“NDAT” or the “Corporation”) (CSE:NDAT) (OTCQB:NDATF) announces an expansion of its previously-announced validation project. The expansion envisions the overall project being divided into two distinct divisions – a) psychiatry, and b) machine-learning. Going forward, the Mitacs-sponsored machine-learning-based (“ML”) project will focus on logic and correlation validation while the supervision (“psychiatric guidance”) aspect of the ML will be governed by the psychiatric division and will focus on mental condition prediction calibration and the development of associated treatment predictions relating to drugs/drug combinations and psychotherapy. In the interest of accelerating the time frame, the psychiatric division plan is to target a single cohort (one age group, one gender, one ethnicity) and a single mental condition.
The Corporation believes it has sufficient current capital to finance both divisions and that its ongoing private placement will be used primarily as working capital. Updates will be provided as available.
The company intends to use the net proceeds of the private placement in furtherance of a Clinical Study related to its YMI machine-learning-based mental health clinical decision system and for general corporate purposes.
The Corporation’s quarterly report for the period ended August 31, 2023, is now available on SEDAR+
ABOUT YMI:
YMI uses evidence-based, objective data from whole life experiences to predict individual mental states over time and applies this knowledge towards a fuller understanding of how mental health develops and to improve mental wellbeing. YMI combines machine-learning with a proprietary Reference Database that contains >1200 person’s genetic expressions, childhood environment, habits, phobias, lived experiences and lifestyle to generate a personalized graphic report predicting an individual’s predisposition toward a variety of common mental conditions, both current and forward in time.
FOR FURTHER INFORMATION, PLEASE CONTACT:
nDatalyze Corp.
James Durward, President and CEO
Telephone: (403) 689-3901
Email: [email protected]
Website: www.ndatalyze.com
YMI Website: https://ymihealth.ca
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. 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.