Predictiv AI formalizes ThermalPass relationship with Commersive Solutions
Predictiv AI Inc (CVE:PAI) (OTCPINK:INOTF) (FRA:71TA) has announced that it and Commersive Solutions Corp have entered into a shareholders agreement for SMRT Labs Inc, the holding company for contactless temperature scanning system ThermalPass.
SMRT is 51% owned by Predictiv AI and 49% by Commersive.
In a statement, Predictiv AI said both companies have agreed to provide SMRT with loans, as required according to their respective ownership interests to advance the development and commercialization of ThermalPass.
READ: Predictiv AI says demand for ThermalPass scanners in schools is rising after successful implementation in North Carolina district
In connection with formalizing SMRT, Predictiv AI said it has agreed to issue to Commersive 1,818,181 purchase warrants, with each exercisable into a common share at $0.3575 each for a period of three years.
Predictive AI also will issue to Commersive 2,272,727 shares on the following terms:
- 1,136,363 shares shall be issued upon SMRT completing the sale of 80 units of ThermalPass and SMRT receiving payment for such sales; and
- The remaining 1,136,364 shares shall be issued upon SMRT completing the sale of an additional 170 units of ThermalPass (250 collective units sold) and SMRT receiving payment for such sales.
ThermalPass was developed to lessen the spread of coronavirus (COVID-19) in high-traffic locations by using medical-grade sensors to scan people (up to 60 per minute using 1,200 sensors) who pass through it and silently identify anyone with an abnormally high body temperature, a possible indicator of COVID-19.
Predictiv AI is not making any express or implied claims that its product has the ability to eliminate, cure, or contain the COVID-19 (or SARS-2 coronavirus) at this time.
Contact the author: [email protected]
Follow him on Twitter @PatrickMGraham
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/951455/predictiv-ai-formalizes-thermalpass-relationship-with-commersive-solutions-951455.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).