TORONTO, March 29, 2021 (GLOBE NEWSWIRE) -- Predictmedix Inc. (CSE:PMED) (OTCQB:PMEDF) ("Predictmedix" or the "Company"), a leader in providing AI-powered healthcare solutions is pleased to announce that it has appointed Kingswood Capital Markets (“Kingswood”) in preparation to become a NASDAQ-listed company.
The acceptance of the application to list the Company’s common shares on NASDAQ will be subject to a number of regulatory and listing requirements, including without limitation: retaining the required number of market makers for the Company’s common shares; the filing of the applicable registration statement with the U.S. Securities and Exchange Commission to become a reporting company under the U.S. Securities Act; and the review of the Company and acceptance for listing by NASDAQ. There can be no assurance that NASDAQ acceptance will be granted should the Company submit its listing application.
Kingswood Capital Markets is a global full-service middle market investment bank. Kingswood helps its clients grow through optimal capital raising structures. Its team of experienced investment professionals has collectively financed over $50 billion in public and private capital markets and provides strategic solutions to clients across a wide spectrum of industries.
Kingswood's expertise has been engaged to aid in both Predictmedix’s NASDAQ uplist and business growth, as part of the Company's endeavors to disrupt the current healthcare and technology market in a safe, non-invasive, and economically sustainable way.
“The pandemic has shown us clearly how underprepared we are in dealing with crises. Our mission at Predictmedix has always been to eliminate the systemic cracks in our system to become the first line of defence in workplace health and safety,” said Dr. Rahul Kushwah, COO of Predictmedix.
Predictmedix’s path to become a NASDAQ listed company will be a catalyst to the company’s mission of becoming the first line of defence in workplace health and safety.
Dr. Kushwah continued, “The importance of the engagement with Kingswood cannot be overstated as we continue to execute our growth strategies towards becoming a leader in AI-Healthcare. We appointed Kingswood for its track record of being a strategic partner for companies in the technology and healthcare verticals. A strategic round of financing and an anticipated NASDAQ listing will be monumental in enabling Predictmedix to execute on its vision and get access to greater capital markets with influential investors.”
The listing of the Company's common shares on the NASDAQ remains subject to the approval of the NASDAQ and the satisfaction of all applicable listing and regulatory requirements. The Company will continue to maintain the listing of its common shares on the Canadian Securities Exchange under the symbol "PMED". The Company will provide updates on its progress as it moves toward this goal.
There is currently no timeline for completion of the review of our capital markets strategy, and there is no assurance that these efforts will be successful or that the review process will result in the listing of the Company’s common shares on NASDAQ.
About Predictmedix Inc.
Predictmedix Inc. is an artificial intelligence ("AI") company developing disruptive tools for impairment testing and healthcare. It is intended that the Company's cannabis and alcohol impairment detection tools will be used across various workplaces and by law enforcement agents. Its technology uses artificial intelligence to identify both cannabis and alcohol impairment by utilizing multiple features along with numerous different data points. Testing does not require any body fluids or human intervention, thereby helping to remove human error and the potential for discrimination and prejudice.
The Company is also developing AI based screening for the healthcare industry. The recent advent of COVID-19 pandemic has placed unprecedented stress on the global economy and highlights the need for tools to help screen mass populations for infectious diseases, with the hope of preventing pandemics in the future. In turn, Predictmedix Inc. has expanded its proprietary AI technology to screen for infectious disease symptoms.
Additionally, psychiatric disorders such as depression, dementia and Alzheimer's disease can carry a significant burden and early identification is the key to better management. To help address this, the Company is also expanding its proprietary AI technology to screen for psychiatric and/or brain disorders such as depression, dementia and Alzheimer's disease. To find out more visit us at www.predictmedix.com
Disclaimer: “The Company is not making any express or implied claims that its product has the ability to diagnose, eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at this time.”
For further information, please contact:
Ehsan Agahi, Investor Relations
Tel: 778 229 4319
Email: IR@predictmedix.com
About Kingswood Capital Markets:
Kingswood is a global investment bank founded by experienced investment professionals that have collectively financed over $50 billion in public and private capital markets. Our firm provides a variety of Investment Banking and Advisory services including Equity Financing, Debt Financing and Private Equity Banking. Our team is dedicated to providing objective strategic advice and financing solutions to companies across a full range of industries. For more information, please visit www.kingswoodcm.com.
Caution Regarding Forward-Looking Information:
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. Forward-looking information in this press release includes statements relating to the Company's consideration of applying to list its common shares on NASDAQ, the Company's ability to increase its liquidity and capital markets exposure if the NASDAQ listing application is submitted and is successful, the Company receiving all required approvals in respect of a potential NASDAQ listing application and the commencement of trading of the Company's Common Shares on the NASDAQ should a listing application be submitted and accepted, the planned registration of the Company's common shares with the U.S. Securities and Exchange Commission (the "SEC"), the timing of the SEC's review of the proposed application and any delays, including but not limited to delays related to COVID-19, and the Company's strategic plans. These statements should not be read as guarantees of future performance or results of the Company. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to obtain intellectual property rights related to its technology; limited operating history; general business, economic, competitive, political, regulatory and social uncertainties, and in particular, uncertainties related to COVID-19; risks related to factors beyond the control of the company, including risks related to COVID-19; risks related to the Company's shares, including price volatility due to events that may or may not be within such party's control; reliance on management; and the emergency of additional competitors in the industry.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except required by law.