Predictiv AI Names Jim Grimes Interim President & CEO
Toronto, Canada, July 14, 2021 - Predictiv AI Inc. (TSXV: PAI) (OTC: INOTF) (FSE: 71TA) ("Predictiv AI" or the "Company"), www.predictiv.ai, a software and solutions provider in the artificial intelligence markets, today announced that its Board of Directors has appointed Jim Grimes, Chairman of Predictiv AI, as interim President and Chief Executive Officer following Michael Lende's resignation effective July 30, 2021. Due to personal family matters, Mr. Lende has made the difficult decision to step down as Predictiv AI's President, Chief Executive Officer and Director of the Corporation.
The Board would like to wish Mr. Lende well and appreciates his efforts, dedication, and leadership in developing a new management team and innovative products. Mr. Lende has committed to ensuring a smooth transition of responsibilities over the next few weeks and has agreed to be available for advisory and consulting services as may be requested by the Company.
Jim Grimes, who will retain his role as Chairman of Predictiv AI, stated, "On behalf of the board, I would like to thank Michael for his dedication and stewardship of the Company over the past 15 months. Predictiv AI will continue to pursue our business strategies and to build our business."
Jim Grimes is a recognized pioneer in Canada's telecom technology industry; a highly successful angel investor and much sought-after, respected executive consultant. During his career, he opened and led the Canadian division of three early-stage Silicon Valley based telecom start-ups – Stratacom Inc. (Cisco), Xylan Inc. (Alcatel) and Access 360 (IBM). Mr. Grimes subsequently led, in concert with the Cisco Canada leadership team under Nitin Kawale, the creation of Cisco Canada Venture Fund to drive Canadian innovation. This was Cisco Global Ventures' first fund outside the US, and they successfully built and deployed $150 million in the Canadian venture ecosystem. Most recently, Mr. Grimes was VP Product Solutions within the Enterprise Business Unit at Rogers and, leveraging his vast and deep relationships in the C-suites of Canadian business, advised companies such as Next Pathway Inc. on their corporate growth, acquisition and exit strategies.
About Predictiv AI Inc.
Predictiv AI Inc. www.predictiv.ai is a technology company which helps businesses and organizations make smarter decisions using advanced artificial intelligence, deep machine learning and data science techniques. Its Weather Telematics Inc. subsidiary uses patented air quality monitoring sensors to provide predictive weather risk information to the insurance, logistics, fleet management and public safety sectors. The Company's R&D division, AI Labs Inc., develops new products that solve real-world business problems. The joint venture with Commersive Solutions Corp. is developing innovative technologies for use in various public spaces, starting with the ThermalPass™ temperature scanning system.
For more information on Predictiv AI, visit: www.predictiv.ai and follow Predictive AI on:
Cautionary and Forward-Looking Statements
Statements contained in this news release, which are not historical facts, are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results of the Company to differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, ThermalPass achieving the commercial results anticipated by the Company, market demand for ThermalPass and other factors referenced in the Company's other continuous disclosure filings, which are available at sedar.com. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.
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