Minerva Reports July Results for DRIVER Software
VANCOUVER, BC, Aug. 11, 2022 /CNW/ - Minerva Intelligence Inc. (TSXV: MVAI) ("Minerva" or "the Company"), an artificial intelligence software company focused on building decision support tools for climate risk, mineral exploration and mining, reports One Proof-of-Concept sold during the month of July 2022 of its AI software DRIVER.
DRIVER software is licensed on an annual recurring basis, allowing Minerva to build and maintain customer relationships as well as a reliable revenue stream. Minerva offers three license levels for end-user clients of varying size, as well as an upgradable limited-term Proof-of-Concept license.
Year to date Minerva has sold Ten Proof-of-Concepts and Four Annual Licenses. Based on investor feedback, Minerva will no longer be reporting the amount of demonstrations made during the month. Minerva will continue to report licenses sold on a monthly basis.
Minerva CEO Scott Tillman commented "A busy drilling season for mining and exploration companies coupled with a general summer slow down led to a decline in Proof-of-Concepts sold for the month of July. Changes have been made to the composition of our sales and marketing team which will reflect in an uptick of sales in the coming months. Simultaneously, we are working with large prospects to improve the functionality of DRIVER and expect to have an improved version ready for debut in September."
Minerva is a proud sponsor of the upcoming Digitization in Mining Conference in Toronto August 31st to September 1st. For more information on this upcoming event please visit:
Digitalization in Mining North America 2022 (swoogo.com)
DRIVER is Minerva's proprietary AI product developed to service the mineral exploration and mining industry by helping them better evaluate drill data to pinpoint superior drill targets, understand geometallurgical domains, and conduct more thorough, rapid, accurate 3D modeling. DRIVER combines cloud processing capabilities with Minerva's proprietary machine learning technology to automatically evaluate the spatial continuity present in geological numeric data. DRIVER automatically creates 3D models of all aspects of the dataset within a matter of minutes, and automatically identifies and catalogues the important zones of interest. These insights are incredibly valuable for exploration, metallurgy, environmental protection, and mining. Minerva's partnership and business development team is targeting qualified leads at mining, mineral exploration and mineral streaming companies around the world.
More information on DRIVER can be found on Minerva's DRIVER homepage, www.minervaintelligence.com/DRIVER
Minerva Intelligence Inc. is an artificial intelligence software company based in Vancouver, Canada, with a subsidiary office in Darmstadt, Germany. Their software is helping decision makers better understand the earth. Minerva's applications focus on the search for critical metals and for climate risk mitigation; however, its proprietary AI software has application in diverse industries and domains. Minerva's common shares are currently listed on the TSX Venture Exchange (symbol MVAI). For further details, please refer to their website www.minervaintelligence.com or follow Minerva on Twitter or LinkedIn.
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.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE Minerva Intelligence Inc.
Jake McGregor, President, [email protected]; Morgan Knowles, Investor Relations, (647) 202-3904, [email protected]
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