Henderson, Nevada, October 29, 2020 — Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), is pleased to announce that its wholly-owned subsidiary Robotic Assistance Devices, Inc. (RAD) and its largest North American dealer have renewed their distribution agreement for an additional three years.
“I’m very pleased that our biggest dealer’s contract has been extended. This dealer has a considerable amount of RAD business deployed and in their sales pipeline that we look forward to closing and delivering to their end-users very soon,” Reinharz concluded.
Terms of the agreement and identity of the RAD dealer were not disclosed, however Reinharz commented that this dealer is one of the three largest in North America with over 100,000 employees and is capable of positioning RAD products to tens of thousands of end-users.
RAD recently commented that their overall sales funnel continues to accelerate and it is foreseeable that the Q3 ending sales plus contracts number may exceed the 133% growth noted in a prior press release. Furthermore, the company directs attention to www.radroameo.com for additional details on the rollout of their outdoor security robot, ROAMEO.
The company may post important information about its subsidiaries RAD-M and RAD on the websites www.radroameo.com and www.roboticassistancedevices.com and through tweets from RAD/RAD-M President and CEO Steve Reinharz (https://twitter.com/SteveReinharz)
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are “forward-looking statements” that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of Artificial Intelligence Technology Solutions to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks. Artificial Intelligence Technology Solutions undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in Artificial Intelligence Technology Solutions expectations.
About Artificial Intelligence Technology Solutions (AITX)
AITX is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges and fuel new business ideas. Through its next-generation robotic product offerings, AITX’s RAD and RAD-M companies help organizations streamline operations, increase ROI and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services, and allows experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staffs and gain higher levels of situational awareness, all at drastically reduced cost. AITX solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education and healthcare. To learn more, visit www.roboticassistancedevices.com or follow us on Twitter @RADbotsecurity.
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Contacts
Investor Relations Contact
The Waypoint Refinery, LLC
845-397-2956
www.thewaypointrefinery.com
Steve Reinharz
Artificial Intelligence Technology Solutions, Inc.
Robotic Assistance Devices
949-636-7060
