Imex Systems and Datametrex AI Mutually Terminate Canntop AI Reseller Licensing Agreement
February 7, 2019 (Source) — Imex Systems Inc. (“Imex” or the “Company”) (TSXV: IMEX,OTC: IMSYF) a software solution provider to Governments, Municipalities and Public Authorities. On December 6, 2018, Imex announced it had signed a licensing and reseller agreement with Datametrex AI Limited, (“Datametrex”) of Toronto, ON, for its wholly owned subsidiary Canntop AI (“Canntop”).
Under the Agreement, Imex was to issue CDN $180,000 of IMEX shares to the Datametrex for the right to utilize their Canntop platform and service offering. At this time, the parties have mutually agreed not to proceed and as such the share issuance will not be issued.
Imex would like to reiterate that it continues to build out its GovCann platform to assist governments educate, communicate and engage their communities, which Management believe will be critical to the development of the responsible, safe cannabis industry in Canada.
About Imex Systems
Imex Systems Inc. is a Canadian software products and solution provider to Governments, Municipalities and Public Authorities in Canada and internationally. Imex primarily focuses on E-Government and the Smart Cities market that also include the integration to payment processing. The company helps public sector entities to provide “Any Time, Any Where, Any Device and Any Channel” convenience for citizens to access government services and help with digital transformation of government operations and streamline revenue. Imex’s various product and service offerings include: i-Gov – a Digital Government Platform for all levels of governments, which provides all the pre-built components for building an effective Digital Government and supporting payment processing through multiple channels; iCity – a Smart City Solution; and miGov – a Mobile Government Framework.
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.
This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information in this news release include, but are not limited to, statements with respect to: increased sales from existing customers and new customers and the potential opportunities to be created from the joint venture with BGC related to mobile payments and cyber security. Forward-looking information necessarily involve known and unknown risks, including, without limitation: the need for approvals from the relevant government body; future capital needs and uncertainty of additional financing; the competitive nature of the industry; the effects of product development and need for continued technology change; and those risks set out in the Company’s public documents filed on www.sedar.com.
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