Medxtractor Corp. (“MedX” or the “Corporation”) (CSE: MXT, OTC:MXTTF) announces a Business Refocus
July 27th, 2021
Psychedelics, Top News
Calgary, Alberta –TheNewswire – July 27, 2021 – Medxtractor (“MedX” or the “Corporation”) (CSE:MXT), (CNSX:MXT.CN),(OTC:MXTTF) reports its plan to refocus to proprietary health-related databases, machine-learning analysis and associated applications. The planned changes are generally as follows:
- Continuing development of the proprietary health-related Reference Database (“RD”) and machine-learning training environments. The RD currently holds more than 700 reference records which consist of extensive, proprietary biometric questions/answers and associated electroencephalogram (“EEG”) data;
- development of digital diagnosis opinions (“DDOs”) derived from the combined intellectual input of multiple highly qualified practitioners. The DDOs will be the basis for the human-machine hybrid “mind” of the system;
- continuing development of specialized datasets to provide training for machine-learning algorithms related to potential psychotropic and psychedelic drug effects on certain mental conditions;
- development of a consumer health application named “YMI” that provides predictions of an individual’s current and future mental and physical health conditions. The interactive website is currently under development and is expected to be available for demonstration purposes before the end of August, 2021. The YMI consumer mHealth platform initially targets US and Canadian mHealth consumers.
James Durward, President, states: “As the Reference Database was being developed it became apparent that there were additional applications that could benefit from the same database. While the original “business-to-business” application anticipates licensing the database to researchers, practitioners and application developers in the psychedelics/psychotropics fields, the YMI application targets the far broader consumer mHealth market. The mHealth market includes products like FitBit, Apple EKG, and DNA analytics companies like 23 and me and Ancestry DNA and is expected to grow to over $150 Billion over the next several years. Since we can also use our Reference Database and DDOs for the YMI application, we believe YMI can offer higher-value predictions without the normally-associated and substantial data-building cost.”
The Corporation expects business-to-business licenses to be available prior to November 30, 2021 with the YMI application to follow approximately 90 days later.
The Corporation further reports that all matters presented for voting at the AGM held on July 22, 2021, were approved.
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]
Website: www.medxtractor.com or www.shaman-ai.com
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.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
Follow Us on Social Media
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.