TORONTO, ON / ACCESSWIRE / June 23, 2021 / EYEFI Group Technologies Inc. (CSE:EGTI)(OTC:EGTTF) ("the "Company") is pleased to announce the appointment of Dr Ian Meredith AM to EYEFI's US based advisory board to assist with expansion activities in the United States. Dr Meredith is Executive Vice President and global Chief Medical Officer, at Boston Scientific Corporation (NYSE:BSX) (a US$60B Fortune 500 device company headquartered in the United States). In this role, he is responsible for leading clinical science and medical affairs across Boston Scientific and providing global leadership of the company's clinical trial strategy.
EYEFI's geospatial technology ‘SPARC' is a registered patent in 7 countries including Canada and the United States. The technology includes a set of proprietary algorithms that can be installed on any camera or sensor and used to determine the location of any object being viewed or pointed at by the device. The solution does not use GPS, satellite or the internet and it is totally covert and undetectable when in use. The algorithms also have several proprietary modules, for instance an image that has been captured using SPARC can be shared or integrated into 3rd party applications to conduct a reverse look up on any pixel to pull location data, plus any other dataset on the internet that is relevant to that location at that time.
There are a broad range of use cases for the SPARC technology for use in drones, autonomous vehicles, military, and in medical devices. There is a growing demand for medical devices to leverage spatial and 3D data, such as Google Glass (owned by Google), Tesla owned by Elon Musk, and NeuraLink; another company backed by Elon Musk that is developing devices to interface with the human brain.
Dr Meredith has joined EYEFI's US based advisory board to assist the Company with strategic introductions to potential new US based customers and channel partners. Several key targets have already been identified in addition to those mentioned above.
Dr Meredith's remuneration will include 20,000 options with an exercise price of $.82 with 12-month expiry. An additional 100,000 options will be issued with an exercise price of $1.30, with vesting conditions (remain as consultant and provide a minimum of 3 strategic referrals in the US) with 18-month expiry.
Ian Meredith said:
"I am delighted to join EYEFI's US advisory board to help drive/design/guide the expansion of this technology into the rapidly evolving healthcare milieu. As every step on the healthcare continuum continues its remarkable digital transformation in the 21st century, there may well be significant opportunities to integrate EYEFI's inspired technology into meaningful healthcare solutions. I am delighted to have the opportunity to help guide this translation."
About EYEfi in detail:
EYEfi is connecting the world's people and devices with the world around them, in real-time and in ways not previously possible.
EYEfi is a software and electronics engineering company that has developed, patented and commercialized an innovative spatial technology; spatial, predictive, approximation and radial convolution (SPARC) and an associated product suite, that turns sensors, cameras and smartphones (fixed, mobile, airborne, portable or handheld) into geo-target co-ordinate acquisition devices.
EYEfi has also developed IIoT sensor hardware and associated cloud software, as a second pillar within its product offering. EYEfi Cloud is a next generation cloud platform that provides a secure and centralized environment where customers can manage their EYEfi product deployments and applications.
On behalf of the board of directors of
EYEFI GROUP TECHNOLOGIES INC.
"Simon Langdon"
Simon Langdon, CEO
For more information contact:
Simon Langdon
Chief Executive Officer
EYEfi Group Technologies Inc.
Mark van der Horst
Investor Relations
EYEfi Group Technologies Inc.
Telephone: +1 (604) 760 7604
Email: mark@galecapital.com
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
FORWARD LOOKING INFORMATION
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information.
The forward-looking statements are based on the reasonable assumptions, estimates, opinions and analyses of management made in light of its experience and perception of historical trends in the delivery of services through its Cloud, current conditions, expected future developments and other factors management of the Company believes are appropriate, relevant and reasonable in the circumstances at the date that such statements are made. All of these assumptions, estimates and opinions will necessarily be subject to change due to future events and other circumstances outside the control of the Company, including the effect of the Covid 19 virus. The Company has based the forward looking information on various material assumptions, including: despite the threat of the Covid 19 virus, the Company will sustain or increase profitability although on a slower projection then previously planned, and will be able to fund its operations with existing capital and projected revenue from its current agreements with its Channel Partners; the Company will be able to attract and retain key personnel in future if required; the general business, economic, financial market, regulatory and political conditions in which the Company operates will remain positive as its services can be provided in the Company's Cloud although deliver of its hardware may be affect by supply chain disruptions; that the general regulatory environment will not change in a manner adverse to the business of the Company; the tax treatment of the Company and its subsidiary will remain constant and the Company will not become subject to any material legal proceedings; the economy generally; competition, and anticipated and unanticipated costs.
Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors, assumptions and exclusions is not exhaustive.
The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Canadian Securities Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
SOURCE: EYEFI Group Technologies Inc.
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