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In anticipation of an extraordinary shareholders’ meeting to be held on September 20, 2021, documents have been sent to shareholders to approve a name change for the company that will better reflect the operational expertise of the company and the scope of its activities. .
Over the past 18 months, the company has achieved business success by applying innovative solutions for the Internet of Things (IoT) and connected devices to manage data, deliver actionable and predictive insights, and establish cybersecurity.
Recent commercial deployments and notable engagements with industry leaders validate the company’s technology and expertise and support the continued commercialization of its products and solutions that address broader verticals beyond markets. medical and medical devices
Toronto, Ontario – (Newsfile Corp. – September 9, 2021) – Relay Medical Corp. (CSE: RELA) (OTCQB: RYMDF) (FSE: EIY2) (“Relay” or the “Company”) announces that it will hold an extraordinary meeting of its shareholders (the “Meeting“) on September 20, 2021, where shareholders will be invited to approve a proposed name change of the Company with such a name to be determined by the directors of the Company (the”Name changeFor more details on the Meeting, please refer to the Company’s management information circular dated August 17, 2021, which can be found under the Company’s profile on www.sedar.com.
The Company’s core competencies and product offerings have grown organically beyond the medical device industry, and this expansion into new industries and businesses will be reflected in the name change. Over the past 18 months, Relay has demonstrated operational success and proven its expertise in the application of cloud-based AI intelligence, machine vision and data science to devices connected to the IoT for cybersecurity and in the development of the SBOM Studio solution. The new company name will more accurately and effectively communicate the business and its verticals, and seek to maximize value for current and future shareholders.
Relay, through a joint venture with Fio Corp., launched the Fionet platform in late 2020 and has since had business partnerships with LifeLabs, USAID, the Rwandan Ministry of Health and a US leader in testing. residence. Relay Medical Not Only Serves The Global US $ 25 Billion Rapid Test Market1 with Fionet, but the platform caters to the larger US $ 274 billion AI and cloud computing market.2
Relay acquired IoT security firm Cybeats Technologies in March 2021. The Cybeats platform isn’t just limited to US $ 6 billion.3 medical device security and the medical Internet of things (IoTM) markets, but applies to all of the US $ 73 billion4 Security markets for IoT-connected devices and critical infrastructure, including automotive, aerospace and other industrial systems. Connected devices are expected to triple from around 20 billion in 2020 to more than 55 billion connected devices by 2025.5 Most of these devices are built without adequate security and are designed without sufficient defense mechanisms. The Company announced the commercial sale to Starfish Medical, the leading manufacturer of medical contracts in Canada, in July 2021.
Cybeats is designed to secure and protect high value connected devices using a unique approach that eliminates device downtime due to cyber attacks and enables manufacturers to develop and maintain devices secure and protected in a way fast and cost effective. Cybeats’ platform also enables manufacturers to monetize cybersecurity services and deliver valuable security information to security professionals. Cybeats unique offering enables end-to-end protection from device design, using Cybeats SBOM Studio, to a connected device in operation via its software as a service (SaaS) with agent integration .
Other name change details
There will be no symbol change, the common shares of the Company will continue to trade under the symbol “RELA” on the Canadian Securities Exchange. The CUSIP number assigned to the Company’s shares will be changed and reflected following the Special Meeting as well as the determination of the new name. At this time, no action is required from shareholders with respect to the name change. Any other questions regarding the proposed name change can be directed to the Company’s investor relations department by email at [email protected] or by telephone at 647-872-9982.
The Company believes that the name change is essential to the development of the Company’s business and, therefore, approval of the name change is in the best interests of the Company. The Company therefore recommends that all shareholders vote “FOR” the name change.
LATEST NEWS: Relay recently announced a $ 750,000 pilot project to deploy the Fionet Platform for Malaria Outbreak Management in Rwanda, Africa:
SUBSCRIBE: For more information on Relay or to subscribe to the Company’s mailing list, visit: https://www.relaymedical.com/news
About Relay Medical Corp.
Relay Medical is a technology innovator based in Toronto, Canada, focused on developing new solutions in the fields of diagnostics, AI data science and IoT security.
Caution regarding forward-looking information
Except for statements of historical fact, this press release contains certain “forward-looking information” within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “plan”, “intend”, “believe”, “anticipate”, “estimate” and other similar words. , or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on opinions and estimates at the date the statements are made and are subject to various risks and uncertainties and other factors that could cause actual events or results to differ materially from those. anticipated in forward-looking statements. statements, including, but not limited to, delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the control of the Company. There can be no assurance that the technology commercialization plans described in this press release will be effective on the terms or on the schedule described in this document. The Company assumes no obligation to update forward-looking information if circumstances or management’s estimates or opinions change, except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying the risks and uncertainties that could affect the financial results is contained in the documents filed by the Company with the Canadian securities regulators, which documents are available at www.sedar.com.
4 https://www.globenewswire.com/news-release/2020/05/18/2035053/0/en/IoT-Security-Market-Predicted-to-Reach-73-92-Billion-by-2027-Says- Allied-Market-Research.html
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96101