nDatalyze focuses on YMI for future growth.
Calgary, Alberta – August 16, 2022
For Immediate Release – nDatalyze Corp. (“NDAT” or the “Corporation”) (CSE:NDAT)(OTCQB:NDATF)
announces that it will focus on commercializing its YMI mental health application going forward and will be asking shareholders to approve the discontinuation of its extractor sales operation at the Corporation’s upcoming Annual General and Special Shareholders Meeting (“AGSSM”) that is expected to be held in November, 2022, with details to follow once the date is set. The background and mechanism of the discontinuation, which may involve a sale, spin-out or other approach, will be disclosed in AGSSM documents when mailed to the shareholders. AGSSM documents will also be posted to the NDAT website at https://ndatalyze.com – “Investors”, after mailing. The Corporation also expects to file an updated Listing Statement with the Canadian Securities Exchange with respect to the aforementioned.
NDAT’s President Jim Durward states: “As we move forward with the Corporation’s development, we believe that our advanced YMI mental health product represents the Corporation’s best growth opportunity and we want to provide a clear message to the market as to the Corporation’s future direction. “
About nDatalyze Corp.:
nDatalyze Corp. generates technology-based, health-related solutions. The YMI division is developing a machine-learning based, online consumer mental health application with it’s database licensing division focusing on providing a specialized health-related Reference Database to application developers and researchers. YMI is based on the Corporation’s proprietary Reference Database consisting of >1200 biometric records complete with associated electroencephalogram (“EEG”) data. With installations worldwide, it’s Medxtractor division manufactures small-scale bio-extractors that are used to extract compounds from a variety of botanical biomasses. While the Medxtractor division is currently generating cash flow, YMI is in development and accordingly the Corporation cannot accurately predict if or when this application will become a cash flow generator.
FOR FURTHER INFORMATION, PLEASE CONTACT:
James Durward, President and CEO
Telephone: (403) 689-3901
RBMG – RB Milestone Group LLC
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.