Artificial Intelligence Technology Solutions Announces New Subsidiary Focused on Mobile Robotic Solutions
Artificial Intelligence Technology Solutions, is pleased to announce that it has created a new, wholly-owned subsidiary, Robotic Assistance Devices Mobile, Inc. (RAD-M) to develop, build and invest in a suite of mobile solutions for the autonomous remote services industry.
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“RAD-M now has the resources and IP from RAD for ROAMEO and as-yet unannounced solutions. By concentrating specific R&D and design resources in RAD-M we can continue to invest new capital, attract and grow our world-class group of developers, engineers and designers and ultimately deliver class-defining solutions”
Robotic Assistance Devices Inc. (RAD), also a wholly-owned subsidiary of AITX will serve as RAD-M’s exclusive master distributor of finished product and will continue to invest in existing and new sales channels.
“RAD-M now has the resources and IP from RAD for ROAMEO and as-yet unannounced solutions. By concentrating specific R&D and design resources in RAD-M we can continue to invest new capital, attract and grow our world-class group of developers, engineers and designers and ultimately deliver class-defining solutions,” said Steven Reinharz, President and CEO of RAD and the new RAD-M. “This separation of our stationary and mobile solutions allows each business unit to fully concentrate on their primary missions which will result in streamlined development timelines.”
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The company may post important information about its subsidiary RAD on its website at 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.
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