Feb 11, 2020, 07:00 ET
Vancouver, BC – Minerva Intelligence Inc. (TSXV:MVAI) (“Minerva” or the “Company”), an artificial intelligence company focused on knowledge engineering, is pleased to provide investors with the following corporate update.
The Company is pleased to announce that it has completed the development of its proprietary artificial intelligence reasoning technology and is now implementing its strategy of delivering its solutions for commercial use through two primary product platforms: TERRA and GAIA.
The team started 2020 off strong, launching its TERRA Mining AI Suite at AME Roundup, Western Canada’s largest minerals and mining conference. TERRA comprises four unique products to improve the operation of exploration and mining companies:
- SOLACE – Prepares data for cognitive AI and machine learning applications
- TARGET – Cognitive AI application for evaluation of surface exploration data
- DRIVER – Cognitive AI application for evaluation of mine and exploration drilling data
- LEO – Document management system optimized for interoperability with AI systems
January also saw the launch of Minerva’s GAIA Natural Hazard Mapping Suite. GAIA is a unique AI application that enables users to generate and interact with maps of natural hazard susceptibility over large areas. The Company’s cognitive AI system mimics human-expert reasoning about natural hazards and provides explainable hazard assessments, making it easier for non-experts to understand the results.
GAIA’s landslide application is market-ready, with projects completed for areas of Western Canada and Italy. Minerva hopes to debut a new flood-based GAIA application this spring and a wildfire application later this year. Both of these product launches will be tied to contracts. Minerva is also extending GAIA to provide risk management measures in products for the insurance industry.
“2019 was focused on ensuring that our product suite was ready for market and that our team would be able to sere the needs of prospective clients,” said Scott Tillman, Chief Executive Officer of Minerva Intelligence. “We have accomplished this and have launched into the commercialization phase of our business. We are looking forward to engaging with a number of customers and validate to the market the commercial applications of our unique technology.”
Minerva is also pleased to announce other operational updates including:
- The promotion of Jake McGregor to the role of Chief Operating Officer as of January 27th
- The hiring of Dan Vroon to lead Minerva’s business development in December
- The process to protect Minerva’s IP is underway with at least 3 patents expected to be filed
- Minerva’s successful presentations at Crossover: AI in Vancouver in December
- Positive reception at AME Roundup, resulting in many strong leads
- Newly appointed CEO Scott Tillman participated in an exclusive private placement purchasing 2,000,000 shares at $0.075/share
- Market maker Lakeshore Securities was engaged to provide better liquidity for the stock
- Investor Relations firm Virtus Advisory Group was hired to market the company to prospective shareholders
About Minerva Intelligence, Inc.
Minerva Intelligence Inc. is a knowledge engineering company based in Vancouver, Canada, with a subsidiary office in Darmstadt, Germany. Minerva’s strategic advantage lies in their ability to bring the benefits of artificial intelligence technology to industries dependent on reasoning with complex technical and scientific data by building proprietary evidence-based decision-making software.
Minerva’s AI combines machine intelligence with human intelligence to reach conclusions faster than possible with humans alone, but with the explanations needed to trust the results.
Although Minerva’s applications currently focus on earth science-related domains including natural hazards and mineral exploration, their technology has application in diverse industries and domains.
Minerva’s common shares are currently listed on the TSX Venture (symbol MVAI).
This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. 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, or for the account or benefit of, “U.S. persons,” as such term is defined in Regulation S under the U.S. Securities Act, unless an exemption from such registration is available.
Cautionary Note Regarding Forward-Looking Statements
Forward Looking Information: This news release includes certain information that may be deemed “forward-looking information”. Forward-looking information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. All information in this release, other than information of historical facts, including, without limitation, the availability of financing to the Company are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information. Forward-looking information is based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from the forward-looking information include changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, regulatory changes, delays in receiving approvals, and other risks detailed herein and from time to time in the filings made by the Company with securities regulatory authorities in Canada. Mineral exploration and development of mines is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward-looking information. For more information on the Company and the risks and challenges of our business, investors should review our continuous disclosure filings which are available at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.