NETRAMARK ANNOUNCES SHAREHOLDER MEETING RESULTS
TORONTO, April 5, 2024 /CNW/ - NetraMark Holdings Inc. (the "Company" or "NetraMark") (CSE: AIAI) (OTCQB: AINMF) (Frankfurt: 8TV) is pleased to announce the voting results from its Annual General and Special Meeting of Shareholders (the "Meeting"), held on March 28, 2024.
Shareholders voted in favour of all matters of business before the Meeting. Each of those matters is set out in detail in the Management Information Circular dated February 16, 2024 and published in connection with the Meeting, which is available on the Company's website https://www.netramark.com.
Shareholders voted in favour of reappointing MNP LLP as auditors of the Company; setting the number of directors at five and also approved the Company's Amended and Restated Stock Option Plan and Amended and Restated Equity Incentive Plan.
Shareholders overwhelmingly approved the nominees to the board of directors (the "Board"). The returning members of the Board are Kevin Taylor, Sheetal Jaitly, Andrew Parks and Joseph Geraci. George Achilleos was added as a new member of the Board replacing Gino DeMichele, who did not stand for re-election and as of March 28, 2024 has ceased to be a director of the Company.
"As a founder of the public entity which is NetraMark Holdings Inc., I am extremely proud of what we have achieved but even more excited about our future," said Gino DeMichele. "We are at the forefront of introducing innovation into foundational aspects of a clinical trial, which can have a long lasting impact on the Pharmaceutical industry. Our technology not only continues to deliver meaningful insights, which historically have not been easily exposed, but to also deliver the insights in weeks. I have enjoyed working closely with the Board of Directors and the management team and look forward to continuing in an Advisory role."
"I want to express my appreciation to Gino for his contributions, he has been an integral part of the team and I look forward to our continued relationship, as we have much more to accomplish as a Company," said George Achilleos, NetraMark CEO.
In contrast with other AI-based methods, NetraAI is uniquely engineered to include focus mechanisms that separate small datasets into explainable and unexplainable subsets. Unexplainable subsets are collections of patients that can lead to suboptimal overfit models and inaccurate insights due to poor correlations with the variables involved. The NetraAI uses the explainable subsets to derive insights and hypotheses (including factors that influence treatment and placebo responses, as well as adverse events) that have the potential to increase the chances of a clinical trial success. Other AI methods lack these focus mechanisms and assign every patient to a class, even when this leads to "overfitting" which drowns out critical information that could have been used to improve a trial's chance of success.
NetraMark is a company focused on being a leader in the development of Generative Artificial Intelligence (Gen AI)/Machine Learning (ML) solutions targeted at the Pharmaceutical industry. Its product offering uses a novel topology-based algorithm that has the ability to parse patient data sets into subsets of people that are strongly related according to several variables simultaneously. This allows NetraMark to use a variety of ML methods, depending on the character and size of the data, to transform the data into powerfully intelligent data that activates traditional AI/ML methods. The result is that NetraMark can work with much smaller datasets and accurately segment diseases into different types, as well as accurately classify patients for sensitivity to drugs and/or efficacy of treatment.
For further details on the Company please see the Company's publicly available documents filed on the System for Electronic Document Analysis and Retrieval (SEDAR).
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation including statements regarding the impact of our technology on the pharmaceutical industry and its ability to deliver meaningful insights in a short period of time. Forward-looking information can be identified by the use of forward-looking terminology such as "expect", "likely", "may", "will", "should", "intend", "anticipate", "potential", "proposed", "estimate" and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions "may", "would" or "will" happen, or by discussions of strategy. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance, or other statements that are not statements of fact. The forward-looking statements are expectations only and are subject to known and unknown risks, uncertainties and other important factors that could cause actual results of the Company or industry results to differ materially from future results, performance or achievements. Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, NetraMark does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise. New factors emerge from time to time, and it is not possible for NetraMark to predict all such factors.
When considering these forward-looking statements, readers should keep in mind the risk factors and other cautionary statements as set out in the materials we file with applicable Canadian securities regulatory authorities on SEDAR+ at www.sedarplus.ca including our Management's Discussion and Analysis for the year ended September 30, 2023. These risk factors and other factors could cause actual events or results to differ materially from those described in any forward-looking information.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
SOURCE NetraMark Holdings Inc.
Swapan Kakumanu - CFO | [email protected]; Media Contact: Glenn Silver - FINN Partners | [email protected]; Investor Relations Contact: Matt Steinberg -- FINN Partners, [email protected]
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