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6-K

Predictmedix Inc. (PMEDF)

6-K 2023-02-16 For: 2022-10-31
View Original
Added on April 06, 2026

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of February, 2023

Commission File Number: 000-56295

PREDICTMEDIX INC. (Translation of registrant's name into English)

British Columbia, Canada (Jurisdiction of incorporation or organization)

77 King Street W.

Suite 3000

Toronto, ON M5K 1G8

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

[X] Form 20-F      [__] Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [  ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [  ]

EXHIBIT INDEX

Exhibit<br>Number Description
99.1 News Release dated November 1, 2022
99.2 News Release dated November 17, 2022
99.3 Unaudited Condensed Interim Consolidated financial statements for the Three Months and Nine Months ended October 31, 2022 and 2021
99.4 Management Discussion and Analysis for the Three Month and Nine Months ended October 31, 2022 and 2021
99.5 Form 52-109FV2 Certification of Chief Executive Officer
99.6 Form 52-109FV2 Certification of Chief Financial Officer
99.7 News Release dated January 16, 2023
99.8 News Release dated February 13, 2023
99.9 News Release dated February 15, 2023

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

PREDICTMEDIX INC.
/s/ Rakesh Malhotra
Name: Rakesh Malhotra
Title: Chief Financial Officer

Date: February 15, 2023

Predictmedix Inc.: Exhibit 99.1 - Filed by newsfilecorp.com

Predictmedix Provides Business and Technology Development

Updates and Closes Final Tranche of Private Placement

Toronto, Ontario, November 1, 2022 - Predictmedix Inc. ("Predictmedix" or the "Company") (CSE: PMED) (OTCQB: PMEDF), an emerging provider of rapid health screening solutions powered by a proprietary artificial intelligence (AI), announces that it has closed the final tranche of its non-brokered private placement. Pursuant to the final tranche, the Company has issued 1,600,000 units (the "Units") at a price of $0.05 per unit to investors for gross proceeds of $80,000. Each Unit consists of one common share of the Company and one-half of one (1//2) common share purchase warrant (each whole warrant, a "Warrant"), whereby each Warrant entitles the holder to purchase one additional common share for a period of two years from closing at an exercise price of $0.10 per share. Net proceeds from the financing will be used for general operations (working capital) including business development and technology upgrades. All securities issued in connection with the financing are subject to a statutory hold period expiring four months and one day from the date of issuance of the securities.

Business and Technology Development Updates:

• Two (2) publications successfully peer-reviewed and accepted in scientific journals

o A NOVEL DEEP LEARNING TECHNIQUE FOR ALCOHOL IMPAIRMENT USING VISUAL AND ACOUSTIC FEATURES^1^

o NOVEL AI BASED APPROACH FOR HUMAN BODY TEMPERATURE EVALUATION USING INNER EYE CANTHUS LOCALIZATION FROM CAMERA FEED^2^

• Four (4) additional publications are currently under peer-review in scientific journals. In addition to Predictmedix's recently peer-reviewed publications for detecting impairment from alcohol and detecting body temperature, these four publications continue to validate the Company's technology to identify symptoms of infectious diseases, fatigue, key vitals, and the overall ability to screen for various parameters as part of Safe Entry's Fit for Duty screening.

• Peer-reviewed journals articles are an imperative piece to Predictmedix's scalability and technology and solution adoption plan. Predictmedix's academic publications must be scrutinized by experts in the same field and is necessary to ensure academic scientific quality - and having several accepted publications in scientific journals is a significant milestone for the Company's sales efforts and for its IP.

  • 2 -

• Significant updates and upgrades to our AI algorithms from capturing data from subjects across US, Canada, Mexico, and India - making Safe Entry Stations more accurate, reliable, and faster.

• Over-the-air, automated updates that integrates most recent captured datasets from various customer sites globally. Safe Entry Stations will receive updated algorithmic models via over-the-air updates, automatically, in real time.

• New employee monitoring heatmap whereby respective managers can visualize data scanned for infectious diseases, impairment from cannabis and alcohol, extreme fatigue and exhaustion, and emotionally distressed states.

• Recurrent Neural Network noise filtering and other new features are now being used to manage voice signals, as part of the Speech Detection parameter of Safe Entry's Fit for Duty screening. This contributes to a higher accuracy reading for Safe Entry's Speech Detection parameter.

• Distribution of demonstration units with comprehensive Fit for Duty screening via the Company's distributor SBL Testing Technologies ("SBL"). SBL has begun deploying Safe Entry Stations to partners such as Probe IMT in South Africa, a leader in technology integration to the mining sector throughout Africa, and other leading players in key markets. Furthermore, SBL currently has more than a dozen distributors throughout North America in various stages of introducing Safe Entry to potential clients.

• Safe Entry demonstration units being deployed are for a series of Discovery Sessions, starting in Calgary and Vancouver beginning this month, and throughout North America in Q4 and onwards.

1 https://ikprress.org/index.php/JOMAHR/article/view/7868

2 https://ikprress.org/index.php/JOBARI/article/view/7897

Predictmedix is currently in the process of appointing a new independent director to replace Ajit Kumar as he could not continue with us due to personal reasons. The Company thanks him for his contribution.

  • 3 -

About Predictmedix Inc.

Predictmedix (CSE: PMED) (OTCQB: PMEDF) is an emerging provider of rapid health screening and remote patient care solutions globally. The Company's Safe Entry Stations - powered by a proprietary artificial intelligence (AI) - use multispectral cameras to analyze physiological data patterns and predict a variety of health issues including infectious diseases such as COVID-19, impairment by drugs or alcohol, fatique or various mental illnesses. Predictmedix's proprietary remote patient care platform empowers medical professionals with a suite of AI-powered tools to improve patient health outcomes. To learn more, please visit our website at www.Predictmedix.com or follow us on Twitter, Instagram or LinkedIn.

Investor Relations Contact

Corey Matthews

Investors@predictmedix.com

Caution Regarding Forward-Looking Information:

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any Page 4 of 4 future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to obtain intellectual property rights related to its technology; limited operating history; general business, economic, competitive, political, regulatory and social uncertainties, and in particular, uncertainties related to COVID-19; risks related to factors beyond the control of the Company, including risks related to COVID-19; risks related to the Company's shares, including price volatility due to events that may or may not be within such party's control; reliance on management; and the emergency of additional competitors in the industry.

All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except required by law.

  • 4 -

Disclaimer: "The Company is not making any express or implied claims that its product has the ability to diagnose, eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus) at this time."

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Predictmedix Inc.: Exhibit 99.2 - Filed by newsfilecorp.com

Predictmedix Deploys Safe Entry's Fit for Duty Screening at LongArm Engineering

LongArm Engineering to implement Safe Entry fitted with Fit for Duty Screening at Odessa Texas facility and new Corporate Office

TORONTO, ON / ACCESSWIRE / November 17, 2022 / Predictmedix Inc. (CSE:PMED) (OTCQB:PMEDF) ("Predictmedix" or the "Company"), an emerging provider of rapid health screening solutions powered by a proprietary artificial intelligence (AI), today announced the revenue-generating deployment of Safe Entry to be deployed at LongArm Engineering's Odessa Texas facility, secured by the Company's lead reseller, SBL Testing Technologies.

LongArm Engineering will be implementing Safe Entry at their Odessa Texas facility, a full cycle operation including engineering, electrical, automation, and fabrication. Odessa Texas is in the heart of the Permian Basin, currently one of the largest and most active oil & gas basin hotspots. Safe Entry will be used to screen staff, contractors, clients, and guests to ensure a healthy and safe workplace.

"We see Safe Entry as a tool to maintain a safe workplace amongst our employees, contractors, and clients as they enter our facility. This will ensure prevention of spread of any infectious disease to others and keep our company strong. Our employees are critical to our business and see this as a commitment to their health. Alcohol and Cannabis screening will show we are dedicated to performing our services in a professional environment," said Aaron Young, Managing Partner of LongArm Engineering.

"We are seeing increasing demand for Safe Entry. Businesses and organizations in all market verticals are strengthening their pandemic response strategies. Safe Entry is very differentiated and unique in detecting multiple symptoms of infectious diseases, all on a continuously learning AI platform. It's a key technology within long-term strategies." stated Rich Rollibard from SBL Testing Technologies.

"The global interest in supplying Safe Entry is also increasing. SBL is on-boarding partner companies to supply and support Safe Entry in all regions of the world." Robillard added. "The evolution of Safe Entry technology has been eye opening, and now being able to screen for not only infectious diseases but simultaneously alcohol and cannabis use, is a huge feat. We are excited to see the positive impact it will have on LongArm Engineering's workforce," said Dr. Rahul Kushwah, Interim CEO at Predictmedix.

Page 1 of 3

About LongArm Engineering

LongArm Engineering is one of the Permian Basins' fastest growing full-service automation and electrical firms, with services ranging from well site servicing to major construction projects. To learn more about LongArm Engineering, please click here.

About SBL Testing Technologies Inc.

SBL integrates innovative safety & testing technologies into complex workplaces, aligning to corporate risk profiles, safety programs and operational processes. SBL works with businesses, government agencies, and organizations in all industrial sectors globally, leveraging technology to reduce risk and enhance policy effectiveness. SBL's team has successfully provided risk management, safety solutions and testing technologies for decades, working with leading technology manufacturers from around the globe. SBL's Pandemic Response / Business Continuity solutions are led by a team who have successfully delivered fully integrated solutions to government agencies & Fortune 500 companies worldwide. For more information visit us online at www.sbltt.com

About Predictmedix Inc.

Predictmedix (CSE:PMED) (OTCQB:PMEDF) is an emerging provider of rapid health screening and remote patient care solutions globally. The Company's Safe Entry Stations-powered by a proprietary artificial intelligence (AI) - use multispectral cameras to analyze physiological data patterns and predict a variety of health issues including infectious diseases such as COVID-19, impairment by drugs or alcohol, fatique or various mental illnesses. Predictmedix's proprietary remote patient care platform empowers medical professionals with a suite of AI-powered tools to improve patient health outcomes. To learn more, please visit our website at www.Predictmedix.com or follow us on Twitter, Instagram or LinkedIn.

Investor Relations Contact

Corey Matthews

Investors@predictmedix.com

Page 2 of 3

Caution Regarding Forward-Looking Information:

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any Page 4 of 4 future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to obtain intellectual property rights related to its technology; limited operating history; general business, economic, competitive, political, regulatory and social uncertainties, and in particular, uncertainties related to COVID-19; risks related to factors beyond the control of the Company, including risks related to COVID-19; risks related to the Company's shares, including price volatility due to events that may or may not be within such party's control; reliance on management; and the emergency of additional competitors in the industry.

All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except required by law.

Disclaimer: "The Company is not making any express or implied claims that its product has the ability to diagnose, eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus) at this time."

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Page 3 of 3

Predictmedix Inc.: Exhibit 99.3 - Filed by newsfilecorp.com

Predictmedix Inc.

Condensed interim consolidated financial statements

For the three and nine months ended October 31, 2022 and 2021

(Unaudited - expressed in Canadian Dollars)

NOTICE TO READER

Under National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the interim financial statements, they must be accompanied by a notice indicating that the interim financial statements have not been reviewed by an auditor.

The accompanying unaudited consolidated interim financial statements have been prepared by and are the responsibility of the management.

The Company's independent auditor has not performed a review of these consolidated interim financial statements in accordance with the standards established by the Chartered Professional Accountants of Canada for a review of interim financial statements by an entity's auditor.

PREDICTMEDIX INC.

CONDENSED INTERIM FINANCIAL STATEMENTS

THREE AND NINE MONTHS ENDED OCTOBER 31, 2022 AND 2021

(Unaudited - Amounts expressed in Canadian Dollars)

TABLE OF CONTENTS
Page No
Cover
Index 1
Condensed Consolidated Interim Statements of Financial Position as at October 31, 2022 (unaudited) and January 31, 2022 (audited) 2
Condensed Consolidated Interim Statements of loss and Comprehensive loss for the three and nine months ended October 31, 2022 and October 31, 2021 (unaudited) 3
Condensed Consolidated Interim Statements of Changes in Equity for the nine months ended October 31, 2022 and October 31, 2021 (unaudited) 4
Condensed Consolidated Interim Statements of Cash Flows for the nine months ended October 31, 2022 and October 31, 2021 (unaudited) 5
Condensed notes to the interim consolidated financial statements 6-23

Predictmedix Inc.

Condensed Interim Statements of Financial Position

(Unaudited - expressed in Canadian dollars)

ASSETS October 31, 2022 **** January 31, 2022
CURRENT ****
Cash and cash equivalents $ 107,190 $ 211,302
Accounts receivable (Note 16) **** 191,685 169,545
Sales tax receivable **** 60,516 211,482
Prepaid expenses (Note 6) **** 28,731 49,295
**** 388,122 641,624
Property and equipment (Note 7) **** 98,812 76,255
Intangible assets (Note 8**)** **** 462,824 518,778
TOTAL ASSETS $ 949,758 $ 1,236,657
LIABILITIES AND SHAREHOLDERS' EQUITY **** **** ****
LIABILITIES **** **** ****
CURRENT **** ****
Accounts payable and accrued liabilities $ 615,318 $ 334,452
Deferred revenue **** 4,720 15,220
TOTAL LIABILITIES $ 620,038 349,672
SHAREHOLDERS' EQUITY **** ****
Share Capital (Note 11) **** 6,108,313 5,716,131
Share subscriptions received **** 80,000
Warrant reserve (Note 11) **** 608,101 510,483
Share-based payment reserve (Note 10) **** 691,998 675,560
Accumulated deficit **** (7,158,692 ) (6,015,189 )
TOTAL SHAREHOLDERS' EQUITY $ 329,720 886,985
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 949,758 $ 1,236,657
Organization and nature of operations (Note 1)
Basis of presentation and going concern (Note 2)
Commitment and contingencies (Note 13)
Subsequent events (Note 17)

Approved on behalf of the Board of Directors:

/Sheldon Kales/
Signed:  Sheldon Kales, CEO and Director
/Rahul Kushwah/
---
Signed:  Rahul Kushwah, COO and Director

The accompanying notes are an integral part of these interim condensed consolidated financial statements

Predictmedix Inc.

Condensed Interim Consolidated Statement of Loss and Comprehensive Loss

(Unaudited- expressed in Canadian dollars)

For the For the For the For the
three three nine nine
months months months months
ended ended ended ended
October 31, October 31, October 31, October 31,
2022 2021 2022 2021
Revenue $ 3,500 $ 50,640 $ 30,300 $ 100,280
Cost of Revenue - 16,800 8,400 41,600
Gross profit 3,500 33,840 21,900 58,680
Expenses:
Administration and general $ 19,149 $ 14,344 $ 51,220 $ 27,431
Amortization (Notes 7,8) 40,817 614 118,195 1,842
Audit and accounting - 300 15,000 5,983
Consulting fees 152,916 35,984 254,042 160,656
Investor relations - 53,509 51,936 53,509
Legal fees 3,700 77,464 34,373 154,753
Management fees (Note 12) 80,500 71,870 214,740 202,270
Marketing expenses 86,299 112,726 207,886 350,323
Payroll and related 34,563 54,397 83,133 96,123
Rent expenses (Note 12) 9,128 9,047 26,658 24,047
Share based compensation (Note 10) - 28,166 16,438 149,818
Transfer agent and filing fees 20,317 13,564 53,517 42,049
Travel, entertainment and related 6,338 15,974 11,265 22,767
Vehicle use expenses (Note 12) 9,000 9,000 27,000 27,000
Total operating expenses $ (462,727 ) $ (496,959 ) $ (1,165,403 ) $ (1,318,571 )
Loss and comprehensive loss $ (459,227 ) $ (463,119 ) $ (1,143,503 ) $ (1,259,891 )
Loss per share-Basic and Diluted $ (0.004 ) $ (0.004 ) $ (0.010 ) $ (0.012 )
Weighted average number of shares outstanding-Basic and Diluted 116,480,640 108,801,292 111,554,955 107,605,972

The accompanying notes are an integral part of these interim condensed consolidated financial statements

Predictmedix Inc.

Condensed Consolidated Statement of Changes in Shareholders' Equity

for the periods ended October 31, 2022 and October 31, 2021

(Unaudited-expressed in Canadian dollars)

Number of shares Share<br>capital Share <br>subscriptions <br>received Warrant reserve Share-based <br>payment reserve Deficit Total
Balance at January 31, 2021 101,717,973 $ 4,031,650 $ - $ 115,802 $ 853,848 $ (4,133,011 ) $ 868,289
Private placement of units 3,114,569 634,095 - 455,990 - - 1,090,085
Share issuance costs - (3,770 ) - - - - (3,770 )
Options exercised 3,968,750 894,613 - - (299,300 ) - 595,313
Share-based compensation - - - - 149,818 - 149,818
Net loss for the period - - - - - (1,259,891 ) (1,259,891 )
Balance at October 31, 2021 108,801,292 $ 5,556,588 $ - $ 571,792 $ 704,366 $ (5,392,902 ) $ 1,439,844
Balance at January 31, 2022 109,051,292 $ 5,716,131 $ - $ 510,483 $ 675,560 $ (6,015,189 ) $ 886,985
Private placement of units 8,300,000 308,750 - 106,250 - - 415,000
Share issuance costs - (24,568 ) - (8,632 ) - - (33,200 )
Shares issued for services 1,900,000 108,000 - - - - 108,000
Share-based compensation - - - - 16,438 - 16,438
Share subscriptions received - - 80,000 - - - 80,000
Net loss for the period - - - - (1,143,503 ) (1,143,503 )
Balance at October 31, 2022 119,251,292 $ 6,108,313 $ 80,000 $ 608,101 $ 691,998 $ (7,158,692 ) $ 329,720

The accompanying notes are an integral part of these interim condensed consolidated financial statements

Predictmedix Inc.

Consolidated Statement of Cash Flows

(Unaudited-expressed in Canadian dollars)

For the nine months ended October 31, 2022 For the nine<br><br> <br>months ended October 31, 2021
OPERATING ACTIVITIES
Net income (loss) $ (1,143,503 ) $ (1,259,891 )
Non-cash items included in net loss and other adjustments:
Amortization 118,195 1,842
Share-based compensation 16,438 149,818
Shares issued for services 108,000 -
Changes in non-cash working capital:
Sales tax receivable 150,966 (88,275 )
Prepaid expenses 20,564 (25,161 )
Accounts receivable (22,140 ) (133,170 )
Accounts payable and accrued liabilities 280,866 (50,899 )
Deferred revenue (10,500 ) 18,720
CASH USED IN OPERATING ACTIVITIES (481,114 ) (1,387,016 )
INVESTING ACTIVITIES
Purchase of property and equipment (49,648 ) -
Investment in intangible assets (35,150 ) (200,211 )
CASH USED IN INVESTING ACTIVITIES (84,798 ) (200,211 )
FINANCING ACTIVITIES
Proceeds from issuance of units 415,000 1,090,085
Share issue expenses (33,200 ) (3,770 )
Share subscriptions received 80,000 -
Proceeds from exercise of options and warrants - 595,313
CASH PROVIDED BY FINANCING ACTIVITIES 461,800 1,681,628
NET CHANGE IN CASH DURING THE PERIOD (104,112 ) 94,401
CASH, BEGINNING OF PERIOD 211,302 480,051
CASH, END OF PERIOD $ 107,190 $ 574,452
Cash paid for interest and income taxes $ - $ -
Supplemental cash flow information
Non-cash transactions during the period affecting cash flows from financing activities:
Shares issued for consulting fees $ 108,000 $ -

The accompanying notes are an integral part of these interim condensed consolidated financial statements

Predictmedix Inc.

Notes to Interim Condensed Consolidated Financial Statements

October 31, 2022

(in Canadian dollars)

(Unaudited)

1. Organization and Nature of Operations

Admiral Bay Resources Inc. ("Admiral") was incorporated in British Columbia on September 3, 1987.

Effective September 23, 2019, Admiral was part of a three-cornered amalgamation among Admiral, 2693980 Ontario Inc. (a wholly owned subsidiary of Admiral) and Cultivar Holdings Ltd. (the "Transaction"). Admiral completed the acquisition of all the issued and outstanding shares of Cultivar Holdings Ltd. by way of a three-cornered amalgamation, pursuant to which 2693980 Ontario Inc., amalgamated with Cultivar Holdings Ltd. Pursuant to the Transaction, each registered shareholder of Cultivar Holdings Ltd. received one (1) common share in the capital of the Admiral for each common share held, resulting in the issuance of an aggregate of 97,439,900 common shares to Cultivar Holdings Ltd. Shareholders. As part of the Transaction, warrants of Cultivar Holdings Ltd. were replaced with common share purchase warrants of Admiral.

At completion of the Transaction, Admiral changed its name to Cultivar Holdings Inc. (the "Company").

On April 9, 2020, the Company announced that it has completed its name change from "Cultivar Holdings Inc." to "Predictmedix Inc." (the "Name Change"). The CUSIP number assigned to the Company's common shares following the name change is CUSIP 74040L100 (ISIN CA74040L1004). In connection with the Name Change, the Company's trading symbol, as listed on the CSE and the OTCQB have also been changed from "CULT" to "PMED", and from "CVRHF" to "PMEDF", respectively.

On February 15, 2018, the Company had acquired a 49% interest in a newly incorporated Cultivar JA Limited, ("CJA") a corporation incorporated under the laws of Jamaica. The remaining 51% interest was owned by local Jamaican business partners. On March 27, 2020, the Company sold and discontinued its interests in CJA (Note 5).

On July 16, 2018, the Company had acquired a 100% interest in a newly incorporated CannIP Holdings Inc. (formerly 2639745 Ontario Inc.) ("Cann") a corporation incorporated under the laws of the province of Ontario. Cann is engaged in the development of cosmetic and edible product lines, as well as investment in technology to detect an individual influence of cannabis. The Company did a one for one share exchange with Cann and issued 29,800,000 common shares to the shareholders of Cann.

The Company, through its subsidiaries, is in the business of investment in technology to detect if an individual is under the influence of cannabis and to predict substance addiction. The Company is currently focusing on artificial intelligence ("AI") technologies which are targeting two specific areas: 1) workplace health and safety and 2) healthcare.

The Company's corporate head office is located at 77 King Street W, Suite 3000, Toronto, Ontario, Canada, M5K 1G8.

Predictmedix Inc.

Notes to Interim Condensed Consolidated Financial Statements

October 31, 2022

(in Canadian dollars)

(Unaudited)

2. Basis of Presentation and Going Concern

Basis of Preparation

These condensed interim consolidated financial statements have been prepared on the historical cost basis except for financial instruments recorded at fair value. In addition, these consolidated financial statements have been prepared using the accrual basis of accounting, except for cash flow information. The functional currency of the Company and its subsidiaries is the Canadian dollar, which is also the Company's reporting currency.

Statement of Compliance

These condensed interim consolidated financial statements (the "Financial Statements") are unaudited and have been prepared on a condensed basis in accordance with International Accounting Standard 34, Interim Financial Reporting issued by the International Accounting Standards Board ("IASB"), using accounting policies of International Financial Reporting Standards ("IFRS") and interpretations issued by the International Financial Reporting Interpretations Committee ("IFRIC"). Accordingly, they do not include all of the information required for full annual financial statements required by IFRS as issued by IASB and interpretations issued by IFRIC.  The condensed interim consolidated financial statements should be read in conjunction with the annual consolidated financial statements for the year ended January 31, 2022, which have been prepared in accordance with IFRS, as issued by the International Accounting Standards Board ("IASB"). The unaudited condensed interim consolidated financial statements are based on accounting policies as described in the January 31, 2022 annual consolidated financial statements.

Basis of Consolidation

These consolidated financial statements include the accounts of the Company and its subsidiaries; Cultivar Holdings Ltd. and Cann from the date of acquisition. The Company has a 100% interest in Cann and in Cultivar Holdings Ltd. The Company had a 49% interest in CJA which was sold on March 27, 2020 (see note 5). All inter-company transactions and balances have been eliminated on consolidation.

Going Concern Assumption

These consolidated financial statements have been prepared using IFRS on a going concern basis, which presumes the realization of assets and discharge of liabilities in the normal course of business, for the next fiscal year. At October 31, 2022, the Company had cash of $107,190, working capital deficit of $231,916 and an accumulated deficit of $7,158,692. The continuing operations of the Company are dependent on funding provided by equity investors.  The Company intends to finance its future requirements through a combination of equity and/or debt issuance. There is no assurance that the Company will be able to obtain such financings or obtain them on favorable terms.

This uncertainty may cast significant doubt about the ability of the Company to continue as a going concern. These interim condensed consolidated financial statements do not include any adjustments to the carrying value or presentation of assets or liabilities that might be necessary should the Company be unable to continue as a going concern. These adjustments could be material.

Predictmedix Inc.

Notes to Interim Condensed Consolidated Financial Statements

October 31, 2022

(in Canadian dollars)

(Unaudited)

2. Basis of Presentation and Going Concern (Cont'd)

Significant Accounting Judgments and Estimates

The preparation of these interim consolidated financial statements in compliance with IFRS requires management to make certain critical accounting estimates and assumptions. These estimates and assumptions affect the reported amounts of assets, liabilities, shareholders' equity, and the disclosure of contingent assets and liabilities, as at the date of the financial statements, and expenses for the years reported.

Critical Judgements

The preparation of these interim consolidated financial statements requires management to make judgements regarding the going concern of the Company (discussed above), as well as the determination of functional currency. The functional currency is the currency of the primary economic environment in which an entity operates and has been determined for each entity within the Company. The functional currency for the Company and its subsidiaries has been determined to be the Canadian dollar.

Key Sources of Estimation Uncertainty

Because a precise determination of many assets and liabilities is dependent upon future events, the preparation of financial statements in conformity with IFRS requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting periods. Actual results could differ from those estimates and such differences could be significant.

Significant estimates made by management affecting the interim consolidated financial statements include:

Share-based payments

Estimating fair value for granted stock options requires determining the most appropriate valuation model which is dependent on the terms and conditions of the grant. This estimate also requires determining the most appropriate inputs to the valuation model including the expected life of the option, volatility, dividend yield, and rate of forfeitures and making assumptions about them.

Deferred tax assets & liabilities

The estimation of income taxes includes evaluating the recoverability of deferred tax assets and liabilities based on an assessment of the Company's ability to utilize the underlying future tax deductions against future taxable income prior to expiry of those deductions. Management assesses whether it is probable that some or all of the deferred income tax assets and liabilities will not be realized. The ultimate realization of deferred tax assets and liabilities is dependent upon the generation of future taxable income, which in turn is dependent upon the successful discovery, extraction, development and commercialization of mineral reserves. To the extent that management's assessment of the Company's ability to utilize future tax deductions changes, the Company would be required to recognize more or fewer deferred tax assets or liabilities, and deferred income tax provisions or recoveries could be affected.

Useful life of property and equipment

Property and equipment is depreciated over its estimated useful life. Estimated useful lives are determined based on current facts and past experience and takes into consideration the anticipated physical life of the asset, the potential for technological obsolescence, and regulations.

Predictmedix Inc.

Notes to Interim Condensed Consolidated Financial Statements

October 31, 2022

(in Canadian dollars)

(Unaudited)

2. Basis of Presentation and Going Concern (Cont'd)

Significant Accounting Judgments and Estimates (Cont'd)

Useful life of intangible assets

The intangible asset is depreciated over its estimated useful life. Estimated useful lives are determined based on current facts and past experience and takes into consideration the anticipated life of the asset, the potential for technological obsolescence, and regulations.

COVID-19 Estimation Uncertainty

In March 2020, the World Health Organization declared coronavirus COVID-19 a global pandemic. This contagious disease outbreak, which has continued to spread, and any related adverse public health developments, has adversely affected workforces, economies, and financial markets globally, potentially leading to an economic downturn. It is not possible for the Company to predict the duration or magnitude of the adverse results of the outbreak and its effects on the Company's business or ability to raise funds.

Approval of the interim consolidated financial statements

These interim consolidated financial statements were authorized for issuance by the Board of Directors on December 29, 2022.

3. Significant Accounting Policies

The accounting policies set out in the consolidated financial statements at January 31, 2022, have been applied consistently to all periods presented in these condensed interim consolidated financial statements.

Predictmedix Inc.

Notes to Interim Condensed Consolidated Financial Statements

October 31, 2022

(in Canadian dollars)

(Unaudited)

4. Acquisition

During the year ended January 31, 2020, the Company completed the following acquisition:

Effective September 23, 2019, the Company was part of a three-cornered amalgamation among the Company, 2693980 Ontario Inc. (a wholly owned subsidiary) and Cultivar Holdings Ltd. (the "Transaction"). The result of the transaction was that Admiral acquired all the issued and outstanding securities of Cultivar Holdings Ltd. on the basis of one share of Admiral for each share of former Cultivar. All outstanding warrants to purchase former Cultivar shares were exchanged, on an equivalent basis, for warrants to purchase shares of the Company. At completion of the transaction, Admiral changed its name to Cultivar Holdings Inc. and former Cultivar was amalgamated into 2693980 Ontario Inc.

Under IFRS, this was considered a Reverse Merger and Recapitalization (commonly referred to as a Reverse Take Over or "RTO"). The Company issued 6,514,249 shares valued at $0.21 per share, with a total value of $1,367,992 for the acquisition.

The fair value of the acquired assets and liabilities assumed is as follows:

Assets acquired by the Company: ****
Cash $ 3,448
Prepaid expenses 1,125
Liabilities assumed by the Company:
Accounts payable and accrued liabilities (19,127)
Loans payable (107,525)
Net liabilities assumed (122,079)
Fair value of shares issued (1,367,992)
Loss on acquisition $ (1,490,071)

5. Sale of interest in Cultivar JA Limited

On March 27, 2020, the Company entered into a sale agreement (the "Sale Agreement") with respect to its 49% interest in Cultivar JA Limited ("Cultivar JA"), which holds a provisional cannabis cultivation license in Jamaica.

Pursuant to the terms of the Sale Agreement, the Company's wholly-owned subsidiary, Cultivar Holdings Ltd., agreed to sell its 49% interest in Cultivar JA and all related royalty interests to the principals of Cultivar JA in exchange for the principals of Cultivar JA agreeing to return and cancel 4,000,000 common shares of the Company owned by the principals.  In addition, the principals also agreed to terminate their right to receive an additional 500,000 common shares of the Company which had been reserved for issuance upon Jamaica's Licensing Authority issuing final approval for Cultivar JA's license.

Predictmedix Inc.

Notes to Interim Condensed Consolidated Financial Statements

October 31, 2022

(in Canadian dollars)

(Unaudited)

5. Sale of interest in Cultivar JA Limited (Cont'd)

The sale agreement constituted a discontinued operation involving the loss of control of Cultivar JA by the Company. A discontinued operation is a component of the Company's business that represents a separate major line of business or a geographical area of operations that has been disposed of or is held for sale. Classification as a discontinued operation occurs upon disposal or earlier if the operation meets the criteria to be classified as held for sale. When an operation is classified as a discontinued operation the comparative statement of comprehensive loss and cash flow operation is re-presented as if the operation had been discontinued from the start of the comparative period.

The sale agreement constituted a discontinued operation of the Company effective March 27, 2020. As a result, all the assets and liabilities of Cultivar JA have been removed from the statement of financial position of the Company. The cancellation of 4,000,000 shares of the Company have been valued at $540,000, being the fair value of the shares on the date of the sale transaction.

The expenses of Cultivar JA have been determined to be a discontinued operation by the Company, and as a result, have been disclosed separately on the statement of income (loss) and comprehensive income (loss)

For the<br>three<br>months<br>ended<br>October 31, 2022 For the<br>three<br>months<br>ended<br>October 31, 2021
Expenses:
Amortization $ - $ -
Interest expense **** - -
Travel, entertainment and related **** - -
Net loss for the period prior to the sale transaction **** - -
Gain on divesture **** - -
Gain (Loss) from discontinued operations, net of tax $ - $ -

Predictmedix Inc.

Notes to Interim Condensed Consolidated Financial Statements

October 31, 2022

(in Canadian dollars)

(Unaudited)

6. Prepaid Expenses

Prepaid expenses as of October 31, 2022 include $nil (January 31, 2022: $nil) to conduct a study to further validate its proprietary impairment detection technology for both alcohol and cannabis.

7. Property and Equipment

**** **** Equipment **** Leasehold <br>Improvement **** Total
Cost **** **** **** **** **** ****
Balance as at January 31, 2021 $ 13,368 $ - $ 13,368
Additions 84,755 - 84,755
Balance as at January 31, 2022 $ 98,123 $ - $ 98,123
Additions **** 49,648 **** - **** 49,648
Balance as at October 31, 2022 $ 147,771 $ - $ 147,771
Accumulated Amortization
Balance as at January 31, 2021 $ 5,180 $ - $ 5,180
Amortization 16,688 - 16,688
Balance as at January 31, 2022 $ 21,868 $ - $ 21,868
Amortization **** 27,091 **** - **** 27,091
Balance as at October 31, 2022 $ 48,959 $ - $ 48,959
Net Carrying Amounts **** **** **** **** **** ****
As at October 31, 2022 $ 98,812 $ - $ 98,812
As at January 31, 2022 $ 76,255 $ - $ 76,255

Predictmedix Inc.

Notes to Interim Condensed Consolidated Financial Statements

October 31, 2022

(in Canadian dollars)

(Unaudited)

8. Intangible Assets

a) On July 21, 2020, the Company completed the acquisition of MobileWellbeing ("MWB"), an innovative, feature rich, Telemedicine Remote Patient Monitoring platform that will integrate with the Company's Artificial Intelligence ("AI") driven rapid screening system for infectious diseases, including COVID-19.

The consideration for the purchase was satisfied by payment in cash for $25,000, issuance of 20,000 shares and additional 30,000 shares to be issued on the 90^th^ day of close. Consideration paid in the form of equity instruments is being considered share- based payment within the scope of IFRS 2 Share-based Payment and this asset acquisition is fair valued for a total consideration for $78,000 at the point control was obtained.

The acquisition has contingent considerations and royalty payments on achievement of certain milestones. The Company shall pay royalty of 20 percent of gross sales from the first $2.5 million in sales generated exclusively from the MWB platform. In addition, the Company is obligated to issue an additional 200,000 common shares commencing with the release of the initial version of the MWB platforms to the market and achievement of sales related milestones.

Contingent consideration in an asset acquisition was discussed at the March 2016 IFRS Interpretations Committee (IFRIC) meeting. An accounting policy choice exists, therefore an entity may recognize a liability for the expected variable payments at the time control of the underlying asset is obtained or they may only recognize such a liability as the related activity that gives rise to the variability occurs. The Company has opted to recognize the liability only when the related activity that gives rise to the variability occurs.

Consideration ****
Cash consideration on closing 25,000
Issued shares (50,000 shares issued at 1.06/share) 53,000
78,000
Purchase Price allocation ****
Intangible asset- MWB remote patient monitoring platform 78,000
78,000

All values are in US Dollars.

b) **** The Company's other intangible asset relates to the development of infectious disease symptom screening solution ("IDSS").

The Company has commenced amortization on the intangible assets on a straight-line basis over the useful life estimated to be for 5 years.

Predictmedix Inc.

Notes to Interim Condensed Consolidated Financial Statements

October 31, 2022

(in Canadian dollars)

(Unaudited)

8. Intangible Assets (Cont'd)

The Company's intangible assets are comprised of the following:

**** MWB **** IDSS **** Total
Cost
Balance at January 31, 2021 $ 91,970 $ 156,040 $ 248,010
Additions 46,591 286,778 333,369
Balance at January 31, 2022 $ 138,561 $ 442,818 $ 581,379
Additions **** - **** 35,150 **** 35,150
Balance at October 31, 2022 $ 138,561 $ 477,968 $ 616,529
Accumulated amortization:
Balance as at January 1, 2021 $ - $ - $ -
Amortization 18,990 43,611 62,601
Balance as at January 31, 2022 $ 18,990 $ 43,611 $ 62,601
Amortization 20,724 70,380 91,104
Balance as at October 31, 2022 $ 39,714 $ 113,991 $ 153,705
Net Book Value
Balance, October 31, 2022 $ 98,847 $ 363,977 $ 462,824
Balance, January 31, 2022 $ 119,571 $ 399,207 $ 518,778

Predictmedix Inc.

Notes to Interim Condensed Consolidated Financial Statements

October 31, 2022

(in Canadian dollars)

(Unaudited)

9. Leases

Right-of-use assets of $nil (January 31, 2022- $nil) and total lease liability of $nil (January 31, 2022- $nil) have been removed from the statement of financial position of the Company as of January 31, 2021 on account of the sale of Company's interest in Cultivar JA (Note 5).

Right of use assets

The Company's right of use assets as at October 31, 2022 and January 31, 2022 were as follows:

Balance as at January 31, 2020 $ 12,192
Amortization **** (2,871 )
Discontinuance of business **** (9,321 )
October 31, 2022 and January 31, 2022 $ -

Lease liability

At the commencement date of the leases, the lease liability was measured at the present value of the lease payments that were not paid at that date. The lease payments are discounted using an interest rate of 18% which is the Company incremental borrowing rate.

Lease liability interest expense recognized in profit and loss and lease payments recognized in the financing component of statement of cash flows are as follows:

Balance as at January 31, 2020 $ 15,189
Interest expense **** 687
Lease payments made during the year **** (2,129 )
Discontinuance of business **** (13,747 )
October 31, 2022 and January 31, 2022 $ -

The Company's lease liability as at October 31, 2022 and January 31, 2022 was as follows:

**** **** October <br>31, 2022 **** January 31, 2022
Lease liability - current $ - $ -
Lease liability - non- current - -
Total lease liability $ - $ -

Predictmedix Inc.

Notes to Interim Condensed Consolidated Financial Statements

October 31, 2022

(in Canadian dollars)

(Unaudited)

10. Stock-Based Compensation

The Company has established a stock option plan whereby officers, directors, employees and service providers may be granted options to purchase common shares at a fixed price. Vesting and expiry provisions are determined at the date of grant. The plan provides for the issuance of stock options to acquire up to 10% of the Company's issued and outstanding capital.  The plan is a rolling plan as the number of shares reserved for issuance pursuant to the grant of stock options will increase as the Company's issued and outstanding share capital increases.

Year ended January 31, 2022

(a) The Company expensed $34,246 relating to the vesting of options issued on July 17, 2020, resulting in unvested stock- based compensation expense of $nil as of January 31, 2022.

(b) The Company expensed $18,958 relating to the vesting of options issued on September 21, 2020, resulting in unvested stock- based compensation expense of $nil as of January 31, 2022.

(c) On March 23, 2021, the Company granted options to a consultant to purchase up to 250,000 common shares. These options were issued at an exercise price of $0.36 per share and vest equally over the next 3, 6, 9 and 12 months. These options have a term of one (1) year expiring on March 23, 2022. The fair value of each option used for the purpose of estimating the stock-based compensation is estimated using the Black-Scholes option pricing model with the following assumptions:

Risk free rate 0.26%
Expected dividends 0%
Expected forfeiture rate 0%
Expected volatility 134.3%
Expected life 1 year
Unvested stock-based compensation expense as of January 31, 2022 $ 1,834

During the year ended January 31, 2022, the Company expensed $50,675 relating to the vesting of options, resulting in unvested stock- based compensation expense of $1,834 as of January 31, 2022.

(d) On June 9, 2021, the Company granted options to a consultant to purchase up to 250,000 common shares. These options were issued at an exercise price of $0.345 per share and vest equally over the next 3, 6, 9 and 12 months. These options have a term of 18 months expiring on December 9, 2022. The fair value of each option used for the purpose of estimating the stock-based compensation is estimated using the Black-Scholes option pricing model with the following assumptions:

Risk free rate 0.32%
Expected dividends 0%
Expected forfeiture rate 0%
Expected volatility 146.38%
Expected life 1.5 years
Unvested stock-based compensation expense as of January 31, 2022 $ 6,778

During the year ended January 31, 2022, the Company expensed $48,672 relating to the vesting of options, resulting in unvested stock- based compensation expense of $6,778 as of January 31, 2022.

Predictmedix Inc.

Notes to Interim Condensed Consolidated Financial Statements

October 31, 2022

(in Canadian dollars)

(Unaudited)

10. Stock-Based Compensation (Cont'd)

Year ended January 31, 2022 (Cont'd)

(e) On July 30, 2021, the Company granted options to a consultant to purchase up to 250,000 common shares. These options were issued at an exercise price of $0.25 per share and vest equally over the next 3, 6, 9 and 12 months. These options have a term of 18 months expiring on January 30, 2023. The fair value of each option used for the purpose of estimating the stock-based compensation is estimated using the Black-Scholes option pricing model with the following assumptions:

Risk free rate 0.38%
Expected dividends 0%
Expected forfeiture rate 0%
Expected volatility 131.33%
Expected life 1.5 years
Unvested stock-based compensation expense as of January 31, 2022 $ 7,826

During the year ended January 31, 2022, the Company expensed $30,445 relating to the vesting of options, resulting in unvested stock- based compensation expense of $7,826 as of January 31, 2022.

As of January 31, 2022, there was a total of $16,438 of unvested stock-based compensation expense.

Nine- month period ended October 31, 2022

(a) The Company expensed $1,834 relating to the vesting of options issued on March 23, 2021, resulting in unvested stock- based compensation expense of $nil as of October 31, 2022.

(b) The Company expensed $6,778 relating to the vesting of options issued on June 9, 2021, resulting in unvested stock- based compensation expense of $nil as of October 31, 2022.

(c) The Company expensed $7,826 relating to the vesting of options issued on July 30, 2021, resulting in unvested stock- based compensation expense of $nil as of October 31, 2022.

As of October 31, 2022, there was $nil of unvested stock-based compensation expense.

Predictmedix Inc.

Notes to Interim Condensed Consolidated Financial Statements

October 31, 2022

(in Canadian dollars)

(Unaudited)

10. Stock-Based Compensation (Cont'd)

Continuity of the Company's options is as follows:

**** Number of Options Weighted Average Exercise Price
Outstanding, January 31, 2022 1,100,000 $ 0.42
Expired (70,000 ) $ 0.54
Expired (200,000 ) $ 0.54
Expired (250,000 ) $ 0.36
Outstanding, October 31, 2022 580,000 $ 0.40

As at October 31, 2022, the Company had the following share purchase options outstanding and exercisable:

Outstanding Exercisable Exercise Price Remaining Life (Years) Expiry Date
80,000 80,000 $1.02 2.71 July 17, 2025
250,000 250,000 $0.35 0.11 December 9, 2022
250,000 250,000 $0.25 0.75 July 30, 2023
580,000 580,000 $0.40 0.74

11. Capital Stock

The Company is authorized to issue the following shares:

  • Unlimited number of common shares without par value

a) Common shares

The holders of common shares are entitled to receive dividends which are declared from time to time and are entitled to one vote per share at meetings of the Company. All shares are ranked equally with regards to the Company's residual assets.

At October 31, 2022, the Company has 119,251,292 common shares issued and outstanding.

Predictmedix Inc.

Notes to Interim Condensed Consolidated Financial Statements

October 31, 2022

(in Canadian dollars)

(Unaudited)

11. Capital Stock (Cont'd)

b) Share issuances

During the nine- month period ended October 31, 2022

  • On August 22, 2022, the Company closed the first tranche of a private placement of 8,300,000 units at $0.05 per unit for a consideration of $415,000. Each unit is comprised of one common share and one-half common share purchase warrant, with each whole warrant exercisable into a common share of the Company at an exercise price of $0.10 per share for a period of 24 months. The Black-Scholes option pricing model was used to determine the fair value of the warrants using the following weight average assumptions:  Expected dividend yield of 0%; risk free interest rate of 1.5%; expected volatility of 133%; expected life of 2 years.  The relative fair value of the 4,150,000 warrants has been valued at $106,250 and common shares at $308,750. In connection with this private placement, the Company incurred $33,200 in share issuance costs.
  • On August 22, 2022, 1,200,000 shares were fair valued at $72,000 and issued for services.
  • On September 30, 2022, 200,000 shares were fair valued at $12,000 and issued for services.
  • On October 24, 2022, 300,000 shares were fair valued at $15,000 and issued for services.
  • On October 31, 2022, 200,000 shares were fair valued at $9,000 and issued for services.

During this period the Company also received $80,000 being subscription for 1,600,000 units (the "Units") at a price of $0.05 per unit. (See subsequent event note 17)

During the year ended January 31, 2022

  • On March 5, 2021, the Company closed a private placement of 3,114,569 units at $0.35 per unit for a consideration of $1,090,085. Each unit is comprised of one common share and one common share purchase warrant, with each warrant exercisable into a common share of the Company at an exercise price of $0.50 per share for a period of 24 months. The Black-Scholes option pricing model was used to determine the fair value of the warrants using the following weight average assumptions:  Expected dividend yield of 0%; risk free interest rate of 0.29%; expected volatility of 131%; expected life of 2 years.  The relative fair value of the warrants has been valued at $394,681 and common shares at $695,404. In connection with this private placement, the Company incurred $3,770 in share issuance costs.
  • 3,968,750 shares were issued upon exercise of 3,968,750 options at a price of $0.15 per share for total gross proceeds of $595,313. An amount of $361,284 was reclassed from share-based payment reserve to share capital.
  • 250,000 shares were fair valued at $36,250 and issued for services.

c) Warrants

Continuity of the Company's warrants is as follows:

**** Number of Warrants Weighted Average Exercise Price
Outstanding, January 31, 2021 1,548,000 $ 0.50
Issued 3,114,569 $ 0.50
Expired (1,548,000 ) $ 0.50
Outstanding, January 31, 2022 3,114,569 $ 0.50
Issued 4,150,000 $ 0.10
Expired - -
Outstanding, October 31, 2022 7,264,569 $ 0.27

Predictmedix Inc.

Notes to Interim Condensed Consolidated Financial Statements

October 31, 2022

(in Canadian dollars)

(Unaudited)

11. Capital Stock (Cont'd)

c)  Warrants (Cont'd)

As at October 31, 2022, the Company had the following warrants outstanding:

Outstanding Exercise Price Remaining Life (Years) Expiry Date
3,114,569 $0.50 0.34 March 5, 2023
4,150,000 $0.10 1.81 August 22, 2024
7,264,569 $0.27 1.18

12. Related Party Transactions

Related parties include key management personnel, the Board of Directors, close family members and enterprises that are controlled by these individuals as well as certain persons performing similar functions. Key management of the Company are members of the Board of Directors, the Chief Executive Officer ("CEO"), the Chief Financial Officer ("CFO") and the Chief Operating Officer ("COO"). Transactions with key management personnel not disclosed elsewhere in the financial statements include the following:

**** Nine months ended October 31, 2022 **** Nine months<br> ended October<br> 31, 2021
Management fees to the CEO $ 90,000 $ 79,500
Management fees to the COO 76,500 66,500
Management fees to the CFO 48,240 56,270
Total Management fees $ 214,740 $ 202,270
Vehicle expense to the CEO 13,500 13,500
Vehicle expense to the COO 13,500 13,500
Rent to the CEO included in rent expense 18,000 22,500
$ 259,740 $ 251,770
**** Three months ended October 31, 2022 **** Three months ended October<br> 31, 2021
Management fees to the CEO $ 30,000 $ 28,500
Management fees to the COO 25,500 25,500
Management fees to the CFO 25,000 17,870
Total Management fees $ 80,500 $ 71,870
Vehicle expense to the CEO 4,500 4,500
Vehicle expense to the COO 4,500 4,500
Rent to the CEO included in rent expense 6,000 7,500
$ 95,500 $ 88,370

During the nine months ended October 31, 2022, the Company expensed $113,000 (October 31, 2021: $93,000) being marketing expenses to companies controlled by the children of the CEO.

As of October 31, 2022, there was $67,988 due to related parties (October 31, 2021- $nil).

Predictmedix Inc.

Notes to Interim Condensed Consolidated Financial Statements

October 31, 2022

(in Canadian dollars)

(Unaudited)

13. Commitments and Contingencies

Effective July 1, 2022, the Company signed a two-year contract with a corporation owned and controlled by the CEO to pay monthly compensation of $10,000 for CEO services. In addition, the Company is obligated to pay monthly rent for $2,000 and an additional $1,500 for the use of a personal vehicle.

Effective July 1, 2022, the Company signed a two-year contract with a corporation owned and controlled by the COO to pay monthly compensation of $8,500 for COO services. In addition, the Company is obligated to pay an additional $1,500 for the use of a personal vehicle.

14. Financial Instruments

The fair value of the Company's accounts receivables and accounts payable, approximate carrying value, due to their short-term nature.  The Company's cash is measured at fair value under the fair value hierarchy based on level one quoted prices in active markets for identical assets or liabilities.

Financial risk management and objectives

The Company's activities expose it to a variety of financial risks: credit risk, liquidity risk, and market risk (including interest rate risk, foreign currency risk, and commodity price risk).

The Company thoroughly examines the various financial risks to which it is exposed and assesses the impact and likelihood of those risks.  Where material, these risks are reviewed and monitored by the Board of Directors.

Credit risk

Credit risk is the risk of an unexpected loss if a customer or third party to a financial instrument fails to meet its contractual obligations. The Company is exposed to credit risk as during the period ended October 31, 2022, one customer represented 94% of the total revenue and represented 99% of the total accounts receivable.

Liquidity risk

Liquidity risk is the risk that the Company will not have sufficient cash resources to meet its financial obligations as they come due. The Company's liquidity and operating results may be adversely affected if its access to the capital market is hindered, whether as a result of a downturn in stock market conditions generally or matters specific to the Company. The Company historically has generated cash flows primarily from its financing activities.

The Company manages its liquidity needs by carefully monitoring scheduled costs. Liquidity is measured in various time bands, on day to day and week-to-week basis, as well as on long term liquidity needs over 180 day to 360 day look out periods. Funding for long term liquidity needs is based on the ability of the Company to successfully complete private placements.

As at October 31, 2022, the Company had cash and cash equivalents of $107,190 to settle current liabilities of $620,038.

Predictmedix Inc.

Notes to Interim Condensed Consolidated Financial Statements

October 31, 2022

(in Canadian dollars)

(Unaudited)

14. Financial Instruments (Cont'd)

Market Risk

Market risk is the risk of loss that may arise from changes in market factors such as interest rates, commodity and equity prices, and foreign exchange rates.

(a) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is not exposed to significant interest rate risk.

(b) Price risk

The Company is not exposed to significant price risk as it does not possess investments in publicly traded securities.

(c) Currency risk

Currency risk is the risk that the fair value of future cash flows of a financial instrument denominated in a foreign currency will fluctuate because of changes in foreign exchange rates. Effective sale of the Company's interest in Cultivar JA in March 2020, the Company has no exposure to any currency except Canadian dollars.

15. Capital Management

The Company considers its capital to be shareholders' equity, which is comprised of share capital and deficit, which as at October 31, 2022 totaled $329,720. The Company's capital structure is adjusted based on the funds available to the Company such that it may continue to seek new opportunities. The Board of Directors does not establish quantitative return on capital criteria, but rather relies on the expertise of management and other professionals to sustain future development of the business.

The sources of future funds presently available to the Company are through the sale of equity capital or debt of the Company.  The ability of the Company to arrange such financing in the future will depend in part upon the prevailing capital market conditions as well as the business performance of the Company. There can be no assurance that the Company will be successful in its efforts to arrange additional financing, if needed, on terms satisfactory to the Company.

Management reviews its capital management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable. The Company is not subject to externally imposed capital restrictions.

16. Business Segment and Concentration

The Company, through its subsidiaries, is currently focused on artificial intelligence ("AI") technologies which are targeting two specific areas: 1) workplace health and safety and 2) healthcare.  All assets are located in Canada except property and equipment for $59,525 which is located in India.

During the nine months ended October 31, 2022, one customer represented 94% of the total revenue and represented 99% of the total accounts receivable.

Predictmedix Inc.

Notes to Interim Condensed Consolidated Financial Statements

October 31, 2022

(in Canadian dollars)

(Unaudited)

17. Subsequent events

a) On November 1, 2022, the Company announced that it has closed the tranche of a non-brokered private placement. Pursuant to the Tranche, the Company issued 1,600,000 units (the "Units") at a price of $0.05 per unit to investors for gross proceeds of $80,000. Each Unit consists of one common share of the Company and one-half (1/2) of one common share purchase warrant (each whole warrant, a "Warrant"), whereby each Warrant entitles the holder to purchase one additional common share for a period of two years from closing at an exercise price of $0.10 per share.

b) The Company issued 1,200,000 common shares for services.

Predictmedix Inc.: Exhibit 99.4 - Filed by newsfilecorp.com

PREDICTMEDIX INC.

MANAGEMENT DISCUSSION AND

ANALYSIS

For the three and nine months ended October 31, 2022 and 2021

PREDICTMEDIX INC.

MANAGEMENT DISCUSSION AND ANALYSIS

For the Three and Nine Months Ended October 31, 2022

(Information as at December 29, 2022 unless otherwise noted)

Introduction

Management's Discussion and Analysis ("MD&A") is intended to help the reader understand Predictmedix Inc. (the "Company") unaudited condensed consolidated financial statements for the three and nine months ended October 31, 2022.  This MD&A should be read in conjunction with the consolidated financial statements of the Company and the notes thereto for the year ended January 31, 2022 and the interim condensed financial statements for the three and nine months ended October 31, 2022.  The effective date of this report is December 29, 2022. The consolidated financial statements are prepared in accordance with International Financial Reporting Standards ("IFRS"). Unless expressly stated otherwise, all financial information is presented in Canadian dollars. This MD&A contains certain forward-looking information and involves risks and uncertainties, including but not limited to, those described in the "Risk Factors" section.

Forward-Looking Statements

Certain statements contained in the following MD&A constitute forward-looking statements (within the meaning of the Canadian securities legislation and the U.S. Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. The forward-looking statements may include statements regarding work programs, capital expenditures, timelines, strategic plans, market price of commodities or other statements that are not statement of fact.  Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of the Company may differ materially from those reflected in forward-looking statements due to a variety of risks, uncertainties and other factors. For the reasons set forth above, investors should not place undue reliance on forward-looking statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties involved in disputes and litigation, fluctuations in currency exchange rates; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and economic return; the need for cooperation of government agencies; the need to obtain additional financing and uncertainty as to the availability and terms of future financing; uncertainty related to the completion of the amalgamation.

It is the Company's policies that all forward-looking statements are based on the Company's beliefs and assumptions which are based on information available at the time these assumptions are made.  The forward- looking statements contained herein are as of October 31, 2022 and are subject to change after this date, and the Company assumes no obligation to publicly update or revise the statements to reflect new events or circumstances, except as may be required pursuant to applicable laws.

Although management believes that the expectations represented by such forward-looking information or statements are reasonable, there is significant risk that the forward-looking information or statements may not be achieved, and the underlying assumptions thereto will not prove to be accurate. Forward-looking information or statements in this MD&A include, but are not limited to, information or statements concerning our expectations regarding the ability to raise additional funds, results of the research and development performed in relation to the products and services of the Company, positive result due to the change in business model, possibility of entering into strategic alliance, distribution agreements and other arrangements to market their products and services and possibility of producing viable products through the use of the new technologies purchased and developed.

Actual results or events could differ materially from the plans, intentions and expectations expressed or implied in any forward-looking information or statements, including the underlying assumptions thereto, as a result of numerous risks, uncertainties and factors including: the possibility that opportunities will arise that require more cash than the Company has or can reasonably obtain; dependence on key personnel; dependence on corporate collaborations; potential delays; uncertainties related to early stage of technology and product development; uncertainties as to fluctuation of the stock market; uncertainties as to future expense levels and the possibility of unanticipated costs or expenses or cost overruns; and other risks and uncertainties which may not be described herein. The Company has no policy for updating forward looking information beyond the procedures required under applicable securities laws.

CORPORATE OVERVIEW

History

Admiral Bay Resources Inc. ("Admiral") was incorporated in British Columbia on September 3, 1987.

Effective September 23, 2019, Admiral was part of a three-cornered amalgamation among Admiral, 2693980 Ontario Inc. (a wholly owned subsidiary of Admiral) and Cultivar Holdings Ltd. (the "Transaction"). Admiral completed the acquisition of all the issued and outstanding shares of Cultivar Holdings Ltd. by way of a three-cornered amalgamation, pursuant to which 2693980 Ontario Inc., amalgamated with Cultivar Holdings Ltd. Pursuant to the Transaction, each registered shareholder of Cultivar Holdings Ltd. received one (1) common share in the capital of the Admiral for each common share held, resulting in the issuance of an aggregate of 97,439,900 common shares to Cultivar Holdings Ltd. Shareholders. As part of the Transaction, warrants of Cultivar Holdings Ltd. were replaced with common share purchase warrants of Admiral.

At completion of the Transaction, Admiral changed its name to Cultivar Holdings Inc. (the "Company" or "Predictmedix").

On April 9, 2020, the Company announced that it had completed its name change from "Cultivar Holdings Inc." to "Predictmedix Inc." (the "Name Change"). The CUSIP number assigned to the Company's common shares following the name change is CUSIP 74040L100 (ISIN CA74040L1004). In connection with the Name Change, the Company's trading symbol, as listed on the CSE and the OTCQB also changed from "CULT" to "PMED", and from "CVRHF" to "PMEDF", respectively.

On February 15, 2018, the Company had acquired a 49% interest in a newly incorporated Cultivar JA Limited, ("CJA") a corporation incorporated under the laws of Jamaica. The remaining 51% interest was owned by local Jamaican business partners. On March 27, 2020, the Company sold and discontinued its interests in CJA.

On July 16, 2018, the Company had acquired a 100% interest in a newly incorporated CannIP Holdings Inc. (formerly 2639745 Ontario Inc.) ("Cann") a corporation incorporated under the laws of the province of Ontario. Cann is engaged in the development of cosmetic and edible product lines, as well as investment in technology to detect the influence of cannabis on individuals. The Company did a one for one share exchange with Cann and issued 29,800,000 common shares to the shareholders of Cann. The Company's corporate head office is located at 77 King Street W, Suite 3000, Toronto, Ontario, Canada, M5K 1G8.

The Company's Business and Products

The Company's business is focused on developing artificial intelligence ("AI") powered technologies for general workplace health and safety, and for the health care industry. In particular, the Company has developed A technology for the identification and detection of infectious disease symptoms (including COVID-19), sometimes referred to in this Registration Statement as our Infectious Disease Symptom Screening Solutions ("IDSS") and marketed in North America under the name "Safe Entry System."  In addition, the Company is developing AI powered products that address (1) detection of alcohol and/or cannabis impairment in individuals; (2) mental illness screening; and (3) remote patient monitoring and treatment plans, sometimes referred to herein as the Mobile Wellbeing product. The following is a description of our primary product, the IDSS, and the products under development.

Infectious Disease Symptom Screening Solutions ("IDSS") Our primary product that is being marketed and sold currently.  All Canadian Display Company Ltd, an Ontario corporation doing business as "Juiceworks Exhibits" ("Juiceworks") is the constructor and selling agent for the Company's Safe Entry Systems in North America.  An initial license fee is received by the Company from customers when a Safe Entry System is sold or leased by Juiceworks.  The Company then will receive a recurring monthly licensing fee from customers.  A formal agreement with Juiceworks covering exclusive fabrication rights and non-exclusive selling rights is under discussion but has not been completed as of the date of this statement.  Outside of North America, the Company intends to market and sell the Safe Entry System directly, however, the Company may enter into arrangements with third parties similar to the arrangement with Juiceworks to cover other territories.<br><br> <br>As a screening system, our IDSS does not render conclusive diagnoses, nor can it identify asymptomatic cases.  Rather, it can (and should) be used to identify persons who are more likely to test positive for certain infectious diseases and refer such persons to undergo a more definitive test, such as a rapid COVID test.  Our IDSS marketing targets potential customers who may have to rapidly screen large numbers of people where it is not practical to diagnostically test all of them.  Such a situation arises in many public events.  In a place where large numbers of people are to be admitted to a common area, the IDSS could be used to identify individuals who are more likely to test positive and yield a smaller pool of individuals who could then undergo a rapid diagnostic test prior to admission.Our IDSS screening stations will be networked and will collect data on an entirely anonymous basis that will enhance the performance of our IDSS screening stations everywhere.  Our AI technology incorporates machine learning techniques that enables the system to improve accuracy as additional data is available.
Remote patient monitoring and treatment plans application, sometimes referred to herein as the Mobile Wellbeing product (the "Mobile Wellbeing App" This product was substantially developed by Mobile Wellbeing, a company that we acquired in July of 2020.  The product is a telemedicine remote patient monitoring platform.  We are currently adding additional modules to this platform that will enable us to use a patient's history and real time medical data, such as blood pressure or blood glucose level, to provide patients and their medical professionals with treatment plans for chronic disease management and in some cases lifesaving advance notice of when a patient should go to a hospital.  This product will be marketed or sold by the Company once the modules are added to the platform.
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Products Under Development
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Impairment Detection Screening Our Impairment Detection Screening scanner is under development and is not being marketed or sold currently.  The product incorporates the Company's proprietary AI technology and is being developed to detect cannabis and/or alcohol drug impairment in individuals.  The product will be developed as a screening station that is capable of making a recommendation as to whether individuals passing through the screening station should undergo additional definitive testing.
Mental Health Screening Our Mental Health Screening station is under development and is not being marketed or sold currently.  The product will incorporate the Company's proprietary AI technology to detect behavioral and physiological indicators of mental illness such as depression, autism, ADHD and dementia.  As a step in the screening process, persons would be asked to read a script while undergoing the scan that detects vocal qualities, vocal cadence and physiological factors such as blood flow in the face.  The intended use for this product will be to screen for indicators of mental disorders and make recommendations as to whether individuals passing through the screening station should undergo additional evaluation.  In this way, the system could be used as a triage tool at mental health centers, police stations or any setting where a preliminary mental health assessment is required, and mental health professionals are not readily available to perform an assessment or are over-taxed by an inflow of possible cases.  This technology represents an ambitious application of the Company's AI technology and is in a developmental stage.  A prototype is not expected prior to the second half of 2022 and may not be ready for public demonstration prior to 2023.

Operations

We will license our software to two distinct markets; law enforcement agencies and a variety of industries that are concerned about infectious disease and impairment in the workplace such as manufacturing, mining, and aviation, as well as any public venues where large numbers of people gather.

The Company's AI powered technology utilizes multispectral imaging with a focus on visual spectral imaging along with infrared thermography to identify individuals exhibiting symptoms associated with infectious diseases. The AI technology monitors and identifies potential presence of infectious disease symptoms such as fatigue, headache, coughing, sneezing, blood flow, sweat gland activation, metabolism, fever along with other key determinant factors. The technology can be deployed using multispectral cameras in facilities where there is large movement of people. The data collected is brought into a central server / cloud for analysis and alerts are sent in case of a positive detection. Privacy concerns are addressed by using dedicated servers, access control, no video data storage - only processing being carried out by our technology. Furthermore, even the summarized frames lack any personal identifiers. Additionally, the information on the camera stays anonymous so we cannot map which camera it is. The technology has been further refined and assembled in a proprietary hardware configuration (patent pending) which can be deployed in any facility with an electricity and an internet connection. This is in form of gateway structures like metal detectors seen in facilities all over North America. In addition to the technology development and deployment in North America, the Company is exploring business development opportunities across the world.

The Company has also focused on strategic acquisitions to bolster the technology portfolio which will carry long term value to the shareholders of the company. As such, in June 2020, the Company also announced a strategic acquisition which is a major step towards turning its screening technologies into a complete enterprise solution. The company announced the acquisition of MobileWellbeing, an innovative, feature rich, Telemedicine Remote Patient Monitoring platform.  The Company plans to integrate MobileWellbeing with its Artificial Intelligence driven rapid screening system for infectious diseases, including COVID-19, and its screening modules for impairment and mental illness. Notably, we expect to turn our screening solutions into enterprise solutions with back-end patient or employee return-to-work monitoring.  Additionally, we expect that this acquisition will allow Predictmedix to enter the growing markets of telehealth and clinical trials. Furthermore, MobileWellbeing can be used for data collection, transmission, evaluation, notification and intervention at home or through kiosks that might be especially useful in Long Term Care and Retirement Community settings.

MobileWellbeing has demonstrated its value in multiple different programs over several years, and has shown benefits such as improved patient health, minimized the impact of chronic disease, and driven down the cost for care through remote monitoring. MobileWellbeing has a unique and robust set of features such as, Assisted Monitoring that allows for data collection, transmission, evaluation, notification and intervention at home or through kiosks that might be especially useful in Long Term Care and Retirement Community settings.

The Interactive Voice Response System also gives patients the accessibility to interact with the system without the need for internet connected devices. This is an important consideration given the breadth of population affected and for regions, sometimes remote, where connectivity remains a major issue. The MobileWellbeing platform's suite of features are uniquely applicable to multiple use cases that impact Predictmedix clientele. Workplaces of all sizes and sectors want their Human Resources ("HR") departments to monitor employee recovery during quarantine periods and manage their transition back to work while maintaining employee privacy. Healthcare providers will now have a very robust tool to be able to remotely manage all aspects of care, recovery, and support whilst protecting all parties from the dangers of further infection transmission.

A patient can be critically ill or is not in a condition to visit the hospital or a medical physician on a regular basis. Such restriction may result in the deterioration of health of the patient. For example, a patient may be bed ridden and perfectly in good health but requires necessary monitoring of their health condition. At the same time, the patient is also reluctant to go to the hospital. In another scenario, the patient may be in a critical condition and needs lifesaving treatment before the patient can reach the hospital. All these scenarios require a system that can automatically recommend and adapt to a treatment so that the both lifestyle management and/or prescriptive analytics can provide better health management to a patient.

Patent Protection

The following patent applications have been submitted to the United States Patent and Trademark Office by individuals affiliated with the Company.  The individuals making the application have assigned all of their respective rights in the patent applications and in any patent(s) that may be issued.

Patent Application No. 16/892,369<br><br> <br>Published on December 10, 2020 In June of 2020, principals of the Company filed Patent Application No. 16/892,369 which is related to a provisional patent application filed by sch individuals on June 7, 2019 (Provisional application No. 62/858,422).  These applications cover the Company's proprietary system and method for detecting the impairment of an individual.  The method involves operating a processor to receive at least one image associated with the individual an identify at least one feature in each image.  The method further involves operating the processor to, for each feature: generate an intensity representation for that feature, apply at least one impairment analytical model to the intensity representation to determine a respective impairment likelihood and determine a confidence level for each impairment likelihood based on characteristics associated with at least the applied impairment analytical model and that feature.  The method further involves operating the processor to define the impairment of the individual based on at least one impairment likelihood and the respective confidence level.
Patent Application No. 63012510 Artificial intelligence driven rapid testing system for infectious diseases.
Patent Application No. 63048131 System and Method to automatically recommend and adapt a treatment regime for patients.
Patent Application No. 63048152 System and Method to manage a regards program for patient treatment protocols
Patent Application No. 63058567 Utilizing healthcare providers network effect to increase compliance for better health outcomes.
Patent Application No. 63072392 System and Method to provide product recommendation and sponsored content to patients managed by computerized workflows for treatment protocols.

In July and August of 2021, an affiliate of the Company applied for the following patents related to the Mobile Wellbeing product.

Patent Application No. 17384686 System and method to automatically recommend and adapt a treatment regime for patients; Submitted July 23, 2021by Rajiv Muradia
Patent Application No. 17384773 System and method to manage a rewards program for patient treatment protocols; Submitted July 23, 2021by Rajiv Muradia
Patent Application No. 17385889 Utilizing healthcare providers network effect to increase compliance for better health outcomes; Submitted July 26, 2021 by Rajiv Muradia
Provisional application that was converted to a non-provisional application:
Patent Application No. 63072392 System and method to provide product recommendation and sponsored content to patients managed by computerized workflows for treatment protocols; Submitted August 15, 2021 by Rajiv Muradia

Private Placement Financing

In order to proceed forward with business development and technology commercialization, on March 5, 2021, Predictmedix announced that it has closed a non-brokered private placement for gross proceeds of $1,090,085 in a strategic financing round to catalyze the Company's operations as it scales its business. A total of 3,114,569 units were issued at a price of $0.35 each. Each unit is comprised of one common share of the Company and one warrant, with each warrant exercisable into a common share at an exercise price of $0.50 per share for a period of two years. The funds were to be used to focus on three specific areas:

1)  Marketing and Advertising: proceeds from the financing will be used to aggressively scale up our marketing operations and advertising for business development.

2)  Human Capital and Hiring: the company will be hiring additional engineers to assemble and deploy its product suite across the globe as it keeps up with ongoing purchase orders and increased demand.

3)  Research and Development: proceeds from the financing will be deployed in improving the efficiency of our proprietary algorithms and commercializing additional software and product features to improve infectious disease screening.

Gaining exposure in the US financial markets

As part of building long term shareholder value, the Company focused its efforts on further establishing itself on the US markets with an eventual goal of becoming a listed company on an exchange. As the first step, on March 29, 2021, the Company announced engaged with Kingswood Capital Markets, a prominent investment bank based out of New York City. Subsequently, the institution has changed its name to EF Hutton.

As the next step towards gaining traction in the US market, in June, 2021 the Company filed a registration statement on Form 20-F to register its common shares with the United States Securities and Exchange Commission (the "SEC"). The Company is currently a reporting issuer under the United States Securities Exchange Act of 1934.

Collaborations

On April 5, 2021, Predictmedix announced an agreement to deploy Safe Entry Stations in conjunction with with North American industry leaders All Canadian Display Company Ltd, an Ontario corporation doing business as "Juiceworks Exhibits" ("Juiceworks") ) and Connectus Global. Connectus Global is a leading Alberta-based solutions provider for process automation, worker safety and location monitoring applications across industrial and business sectors. With an integrated suite of digital workforce management and business continuity systems, the Company's internationally deployed solutions work to improve industrial safety, operational efficiency, and crisis recovery planning.

On June 11, 2021, the company announced expansion of their Safe Entry program with the institution of their first distributor, SBL Testing Technologies Inc (SBL) in partnership with JUICEWORKS.

On August 30, 2021, Predictmedix Announced their strategic partnership with major Indian defense contractor for Southern Asia region, Paras TechCare, a Division of Paras Defence. Paras Defense will manufacture and resell Safe Entry Stations into Indian private and public sectors on behalf of Predictmedix.

On October 5, 2021, Predictmedix announced that it has secured a new strategic partnership with Entertainment Bay India LLP, one of the largest event production companies in India, for the deployment of Safe Entry Stations at its client events. Entertainment Bay is a leading event production company in India, leveraging 10+ years of experience providing a full range of event management services for companies, organizations and individuals at stadiums, theaters, music venues, hotels and conference event centers.

Company Developments

On April 14, 2021, the company announced a 24 month, multi-unit agreement to deploy Safe Entry Stations throughout the North American operations of Flow Water Inc. ("Flow Alkaline Spring Water" or "Flow"). The contract was executed by Juiceworks Exhibits. The contract marked the successful completion of our initial pilot, as the technology is now scaled and deployed across all of Flow's operations both in Canada and the United States.

On April 19, 2021, the Company announced deployment of Safe Entry Stations at 4 key office towers in downtown Calgary and Edmonton in partnership with Apsen Properties and Juiceworks. Calgary's The Edison, Palliser Complex, The Ampersand and Edmonton's Bell Tower are raising the bar by providing a completely voluntary infectious disease symptom screening option for their tenants.

On May 6, 2021, the Company announced deployment of Safe Entry Stations at the Aster Garden Optima Living Community in partnership with Optima Living, Connectus Global, and Juiceworks Exhibits.

On May 17, 2021, the Company announced that Safe Entry Station units will be deployed at the North American tour of Hockeyfest in partnership with Juiceworks Exhibits and Jones Entertainment Group. The deployments will begin with the first Hockeyfest event, kicking off on June 25, in London, Ontario. Hockeyfest is the world's largest street and pond hockey festival with tournaments scheduled in 9 cities all over North America.

On June 3, 2021, the Company announced the deployment of Safe Entry Stations at the Lavazza Drive In Film Festival to be held in Ontario from June 27 to July 17. Inaugurated as a grassroots non-profit film festival in 2012, Italian Contemporary Film Festival (ICFF) has grown to become one of the largest Italian film festivals outside of Italy. Safe Entry Stations will be deployed to screen staff at the Lavazza Drive-In Film Festival organized by ICFF and CHIN between June 27 and July 17, 2021.  It will then be used to rapidly screen patrons and staff prior to access to open-air screenings, set to begin mid-July.

On August 16, 2021, the Company engaged international investor relations specialists MZ Group to lead a comprehensive strategic investor relations and financial communications program across all key markets. MZ Group continues to work closely with Predictmedix management to develop and implement a comprehensive capital markets strategy designed to increase the Company's visibility throughout the investment community. MZ has developed a distinguished reputation as a premier resource for institutional investors, brokers, analysts and private investors. The firm maintains offices worldwide.

On August 26, 2021, the Company deployed several Safe Entry Stations at the Palm Tree Music Festival in Westhampton Beach, New York. The single-day event was an intimate festival experience designed to capture the unmatched feeling of summer in paradise with majestic beach vibes and unmissable sets by a lineup of global icons. The Palm Tree Crew partnered with Predictmedix and Northwell Health, New York's largest Health Care provider, to design a safety protocol for attendees.

On October 25, 2021, the Company announced a revenue-generating deployment of 15 Safe Entry Stations at the Formula 1 Aramco United States Grand Prix, which was held October 22-24, 2021 at the Circuit of The Americas ("COTA") in Austin, Texas, as part of the Company's reseller partnership with the Canadian-based JUICEWORKS EXHIBITS and CONNECTUS Global. At the event, four members of the catering staff scanned "red" when walking through the Safe Entry Station and were administered a rapid antigen test right after which tested positive. Those staff were sent home for recovery.

On November 2, 2021, the Company announced that it has been granted Conformitè Europëenne ("CE") Mark status and ISO13485 certification for its Safe Entry Station, enabling Predictmedix to commercialize in the European Union and key global markets. The CE mark declares the conformity of the Safe Entry Station with EU regulations and indicates that a product has been assessed by the manufacturer and deemed to meet EU safety, health and environmental protection requirements. ISO 13485 is the medical device industry's most widely used international standard for quality management. All Safe Entry Stations manufactured by the Company's reseller, Paras Defence & Space Technologies Ltd. ("Paras"), will now have the CE mark and ISO certification.

On December 16, 2021, the Company announced the inaugural health and wellness placement of the Safe Entry Station technology at Ste. Anne's Spa, a popular health and wellness retreat in Ontario. This marks the Company's foray into the hospitality space, as we believe the public demand for safe vacations and relaxation experiences is high.

On January 12, 2022, the Company announced the accuracy rates for its technology to identify cannabis and alcohol impairment. In a supervised environment with 128 participants, the Company's proprietary AI technology demonstrated a 79-87% efficacy in identification of cannabis impairment and 76-92% efficacy in identification of alcohol impairment (depending on the amount of cannabis or alcohol consumed by the subject). Furthermore, the company also announced a North American clinical study for its cannabis and alcohol impairment screening technology. Building on the datasets and insights from previous research and studies, the company announced commencement of an additional clinical study in February 2022 with researchers and doctors at a North American hospital. If the study shows similar results, the hospital study will provide a third-party independent validation of the Company's impairment detection solution ahead of commercial launch. The data collected can be used by the Company to further fine-tune the AI algorithms. The results of the independently validated study will be published in a peer-reviewed medical journal.  The Company has engaged an accredited consulting firm to assist the Company in seeking classification of the technology as a class II medical device in the US.

On January 26, 2022, the Company announced another North American clinical study for it's infectious disease screening technology. Predictmedix is providing one (1) Safe Entry Station to be used to screen staff to provide protection, and two (2) units to screen incoming patients along with collecting symptom data from COVID-19 positive patients, whom will be validated by PCR tests.  The hospital study will provide a third-party independent validation of the Company's Infectious Diseases Detection Solution ahead of a commercial launch, fulfilling a prerequisite for certification with the U.S.  Food and Drug Administration (FDA). The results of the study will be published in a peer-reviewed medical journal. Predictmedix has engaged an accredited consulting firm to assist the Company in seeking classification of the technology as a Class II Medical Device in the United States. Class II devices are FDA approved for the market through the Premarket Notification, or 510(k) process. The 510(k) process entails a complex application to the FDA, which demonstrates that a device is safe and effective by demonstrating that the device is equivalent to another device which is on the market. While individual aspects and features of the Safe Entry Station are comparable to FDA class II devices, it is important to note that the Safe Entry Station differs from other medical devices as it is assimilating multiple features and combining it with the artificial intelligence driven decision making, which has wide ranging applications in healthcare.

The clinical studies are critical for the company to move forward with full scale commercialization of its technology. Although, the company has successfully deployed its technology at tier 1 events across the globe and has received validation from the client, the third-party clinical validation will serve as the launching pad for global rollout and expansion of the technology.

On April 5, 2022, the company announced conclusion of an initial deployment of a Safe Entry Station at a major Las Vegas entertainment event through its partnership with Uptown Sports Marketing. The event venue served as a unique opportunity to demonstrate the Company's proprietary AI-enabled screening solution to area representatives from some of the largest Las Vegas and Global entertainment and hospitality sector companies, which visited the Safe Entry Station throughout the week to see it in action.

Predictmedix and Uptown Sports Marketing partnered with the Las Vegas event organizer to design a safety protocol for event attendees to efficiently screen key operating staff and performers for signs of infectious diseases as they entered the event for work. This was then evaluated by Las Vegas hospitality sector representatives as staff and performers walked through the Safe Entry Station to rapidly identify multiple symptoms of infectious diseases such as COVID-19, displaying the result in the form of a red or green light.

As part of our efforts to broaden the shareholder base, on May 24, 2022 the company announced that the management will present at the 12th Annual LD Micro Invitational on Tuesday, June 7th, 2022 at the Four Seasons in Westlake Village, California and subsequently on June 7^th^, the company management presented at the invitation only conference where the company's pitch was received quite well.

In parallel, the company carried on with it's efforts towards tech commercialization and on June 15^th^, the company announced that it has secured a revenue-generating deployment at the DeBeers Forevermark Forum 2022 from June 29 - July 1, 2022. The Safe Entry Stations will be utilized to screen both guests and staff for signs and symptoms of infectious diseases such as COVID-19. This repeat commercial placement was secured through the Company's South Asia partner, Entertainment Bay, who focuses on serving the live event market and seeks high visibility event placements for the Safe Entry Station. Furthermore, on June 29^th^, the company announced that it has received a non-binding Letter of Intent (LOI) from KaTron Defence Space and Simulation Technologies, a leading Turkish provider of simulation products and services for aviation and aerospace, for the deployment of eighty (80) Safe Entry Stations for their corporate headquarters in Ankara, Turkey along with international clients.

The LOI, reflecting subscription fees of at least USD$1.4 million per year (CAD$1.85 million at the current exchange rate), is pending receipt of publication of results from a clinical study in a peer reviewed publication before transitioning to a formal purchase order, the announcement of which is expected in the third quarter of 2022. The LOI covers the deployment of 80 Predictmedix Safe Entry Stations, which are used to power "Fit for Work" screening - a non-invasive, autonomous, non-biased, and cost-efficient workplace screening solution for countless industries around the globe. Fit for Work screening ensures workers are in an alert mental and physical state by screening for impairment from Cannabis and alcohol, extreme fatigue, and symptoms of infectious diseases, such as COVID-19.

At the same time, the company further refined their AI algorithms and on July 25^th^ announced its accuracy rates for identifying Respiration Rate, Heart Rate, and Core Body Temperature as part of its Fit for Work screening solutions for industries across the Globe.

Building upon previously collected data from clinical sites and real-world deployments, Predictmedix validated its technology on 270 participants which included two clinical sites. Participants walked through Safe Entry and their vitals were identified using the AI algorithms of Safe Entry in conjunction with edge computing.  Simultaneously, the same vitals were also collected using standard medical devices with which the data from Safe Entry could be compared and correlated with.

The results of the accuracy rates are as follows:

Identification of Respiration Rate: 98.38%

Identification of Core Body Temperature: 98.37%

Identification of Heart Rate: 85%

Following the exceptional accuracy rates, the Company has initiated the next phase of Third-Party Validation by creating manuscripts which will be sent for peer review to academic journals for publication. Additionally, the Company has made significant developments to their novel IP for the filing of the Company's patents.

On August 22, 2022, the Company announced that it closed the first tranche of a non-brokered private placement (the "First Tranche"). Pursuant to the First Tranche, the Company issued 8,300,000 units (the "Units") at a price of $0.05 per unit to investors for gross proceeds of $415,000. Each Unit consists of one common share of the Company and one-half of one (1//2) common share purchase warrant (each whole warrant, a "Warrant"), whereby each Warrant entitles the holder to purchase one additional common share for a period of two years from closing at an exercise price of $0.10 per share. Net proceeds from the First Tranche will be used for general operations (working capital) including business development and technology upgrades. All securities issued in connection with the First Tranche are subject to a statutory hold period expiring four months and one day from the date of issuance of the securities.

On November 7, the company announced that it has closed the final tranche of its non-brokered private placement. Pursuant to the final tranche, the Company has issued 1,600,000 units (the "Units") at a price of $0.05 per unit to investors for gross proceeds of $80,000. Each Unit consists of one common share of the Company and one-half of one (1//2) common share purchase warrant (each whole warrant, a "Warrant"), whereby each Warrant entitles the holder to purchase one additional common share for a period of two years from closing at an exercise price of $0.10 per share. Net proceeds from the financing will be used for general operations (working capital) including business development and technology upgrades. All securities issued in connection with the financing are subject to a statutory hold period expiring four months and one day from the date of issuance of the securities.

Third-Party Validation of Technology

In October and November, the company worked extensively to get third party validation for the tech in the form of peer reviewed publications. Furthermore, two (2) publications were successfully peer-reviewed and accepted in scientific journals

A NOVEL DEEP LEARNING TECHNIQUE FOR ALCOHOL IMPAIRMENT USING VISUAL AND ACOUSTIC FEATURES - (https://ikprress.org/index.php/JOMAHR/article/view/7868)

NOVEL AI BASED APPROACH FOR HUMAN BODY TEMPERATURE EVALUATION USING INNER EYE CANTHUS LOCALIZATION FROM CAMERA FEED (https://ikprress.org/index.php/JOBARI/article/view/7897)

Moreover, four (4) additional publications are currently under peer-review in scientific journals. In addition to Predictmedix's recently peer-reviewed publications for detecting impairment from alcohol and detecting body temperature, these four publications continue to validate the Company's technology to identify symptoms of infectious diseases, fatigue, key vitals, and the overall ability to screen for various parameters as part of Safe Entry's Fit for Duty screening.

Peer-reviewed journals articles are an imperative piece to Predictmedix's scalability and technology and solution adoption plan. Predictmedix's academic publications must be scrutinized by experts in the same field and is necessary to ensure academic scientific quality - and having several accepted publications in scientific journals is a significant milestone for the Company's sales efforts and for its IP.Technology related developments

The company also worked extensively to further fine tune and refine the technology by improving accuracy as well as by deploying upgrades to make the technology more user friendly. These included:

  • Significant updates and upgrades were made to our AI algorithms from capturing data from subjects across US, Canada, Mexico, and India - making Safe Entry Stations more accurate, reliable, and faster.

  • Over-the-air, automated updates that integrates most recent captured datasets from various customer sites globally. Safe Entry Stations will receive updated algorithmic models via over-the-air updates, automatically, in real time.

  • New employee monitoring heatmap whereby respective managers can visualize data scanned for infectious diseases, impairment from cannabis and alcohol, extreme fatigue and exhaustion, and emotionally distressed states.

  • Recurrent Neural Network noise filtering and other new features are now being used to manage voice signals, as part of the Speech Detection parameter of Safe Entry's Fit for Duty screening. This contributes to a higher accuracy reading for Safe Entry's Speech Detection parameter.

Other Business Developments

As the Company works to commercializing its Fit for Duty screening solutions, its resellers and partners are making progress in their advanced sales pipelines as well as forging partnerships with major Safety and Risk Management Corporations in North American along with several other jurisdictions.

The Company is set to debut and showcase Safe Entry's Fit for Duty to key industry executives in multiple upcoming conferences. Additionally, demo units are currently being sent to large potential clients and potential partners for scaling up the Company's solutions in North America as well as international jurisdictions.

The company launched deployments of demonstration units with comprehensive Fit for Duty screening via the Company's distributor network which includes SBL. SBL has begun deploying Safe Entry Stations to partners such as Probe IMT in South Africa, a leader in technology integration to the mining sector throughout Africa, and other leading players in key markets. Furthermore, Safe Entry demonstration units being deployed are for a series of Discovery Sessions, starting in Calgary and Vancouver beginning this month, and throughout North America in Q4 and onwards.

On November 17, the company also announced deployment of Safe Entry at LongArm Engineering's Odessa Texas facility. LongArm Engineering will be implementing Safe Entry at their Odessa Texas facility, a full cycle operation including engineering, electrical, automation, and fabrication. Odessa Texas is in the heart of the Permian Basin, currently one of the largest and most active oil & gas basin hotspots. Safe Entry will be used to screen staff, contractors, clients, and guests to ensure a healthy and safe workplace.

Merger transaction

During the year ended January 31, 2020, the Company completed the following acquisition:

Effective September 23, 2019, the Company was part of a three-cornered amalgamation among the Company, 2693980 Ontario Inc. (a wholly owned subsidiary) and Cultivar Holdings Ltd. (the "Transaction"). The result of the transaction was that Admiral acquired all the issued and outstanding securities of Cultivar Holdings Ltd. on the basis of one share of Admiral for each share of former Cultivar. All outstanding warrants to purchase former Cultivar shares were exchanged, on an equivalent basis, for warrants to purchase shares of the Company. At completion of the transaction, Admiral changed its name to Cultivar Holdings Inc. and former Cultivar was amalgamated into 2693980 Ontario Inc.

Under IFRS, this was considered a Reverse Merger and Recapitalization (commonly referred to as a Reverse Take Over or "RTO"). The Company issued 6,514,249 shares valued at $0.21 per share, with a total value of $1,367,992 for the acquisition.

The fair value of the acquired assets and liabilities assumed is as follows:

Assets acquired by the Company: ****
Cash $ 3,448
Prepaid expenses 1,125
Liabilities assumed by the Company:
Accounts payable (19,127)
Loans payable (107,526)
Net liabilities assumed (122,079)
Fair value of shares issued (1,367,992)
Loss on acquisition $ (1,490,071)

The current directors and officers of the Company are:

Sheldon Kales (Director and Chief Executive Officer),

Dr. Rahul Kushwah (Director and Chief Operating Officer),

Rakesh Malhotra (Chief Financial Officer and Corporate Secretary),

Tom Sipos (Director),

Ajit Kumar (Director).

Sale of interest in Cultivar JA Limited

On March 27, 2020, the Company entered into a sale agreement (the "Sale Agreement") with respect to its 49% interest in Cultivar JA Limited ("Cultivar JA"), which holds a provisional cannabis cultivation license in Jamaica.

Pursuant to the terms of the Sale Agreement, the Company's wholly-owned subsidiary, Cultivar Holdings Ltd., agreed to sell its 49% interest in Cultivar JA and all related royalty interests to the principals of Cultivar JA in exchange for the principals of Cultivar JA agreeing to return and cancel 4,000,000 common shares of the Company owned by the principals.  In addition, the principals also agreed to terminate their right to receive an additional 500,000 common shares of the Company which had been reserved for issuance upon Jamaica's Licensing Authority issuing final approval for Cultivar JA's license.

The sale agreement constituted a discontinued operation involving the loss of control of Cultivar JA by the Company. A discontinued operation is a component of the Company's business that represents a separate major line of business or a geographical area of operations that has been disposed of or is held for sale. Classification as a discontinued operation occurs upon disposal or earlier if the operation meets the criteria to be classified as held for sale. When an operation is classified as a discontinued operation the comparative statement of comprehensive loss and cash flow operation is re-presented as if the operation had been discontinued from the start of the comparative period.

The sale agreement constituted a discontinued operation of the Company effective March 27, 2020. As a result, all the assets and liabilities of Cultivar JA have been removed from the statement of financial position of the Company. The cancellation of 4,000,000 shares of the Company have been valued at $540,000, being the fair value of the shares on the date of the sale transaction.

The expenses of Cultivar JA have been determined to be a discontinued operation by the Company, and as a result, have been disclosed separately on the statement of income (loss) and comprehensive income (loss)

For the<br>three<br>months<br>ended<br>October 31, 2022 For the<br>three<br>months<br>ended<br>October 31, 2021
Expenses:
Amortization $ - $ -
Interest expense **** - -
Travel, entertainment and related **** - -
Net loss for the period prior to the sale transaction **** - -
Gain on divesture **** - -
Gain (Loss) from discontinued operations, net of tax $ - $ -

Intangible Assets

a) On July 21, 2020, the Company completed the acquisition of MobileWellbeing ("MWB"), an innovative, feature rich, Telemedicine Remote Patient Monitoring platform that will integrate with the Company's Artificial Intelligence ("AI") driven rapid screening system for infectious diseases, including COVID-19.

The consideration for the purchase was satisfied by payment in cash for $25,000, issuance of 20,000 shares and additional 30,000 shares to be issued on the 90^th^ day of close. Consideration paid in the form of equity instruments is being considered share- based payment within the scope of IFRS 2 Share-based Payment and this asset acquisition is fair valued for a total consideration for $78,000 at the point control was obtained.

The acquisition has contingent considerations and royalty payments on achievement of certain milestones. The Company shall pay royalty of 20 percent of gross sales from the first $2.5 million in sales generated exclusively from the MWB platform. In addition, the Company is obligated to issue an additional 200,000 common shares commencing with the release of the initial version of the MWB platforms to the market and achievement of sales related milestones.

Contingent consideration in an asset acquisition was discussed at the March 2016 IFRS Interpretations Committee (IFRIC) meeting. An accounting policy choice exists, therefore an entity may recognize a liability for the expected variable payments at the time control of the underlying asset is obtained or they may only recognize such a liability as the related activity that gives rise to the variability occurs. The Company has opted to recognize the liability only when the related activity that gives rise to the variability occurs.

Consideration ****
Cash consideration on closing 25,000
Issued shares (50,000 shares issued at 1.06/share) 53,000
78,000
Purchase Price allocation ****
Intangible asset- MWB remote patient monitoring platform 78,000
78,000

All values are in US Dollars.

b) **** The Company's other intangible asset relates to the development of infectious disease symptom screening solution ("IDSS").

The Company has commenced amortization on the intangible assets on a straight-line basis over the useful life estimated to be for 5 years.

The Company's intangible assets are comprised of the following:

**** MWB **** IDSS **** Total
Cost
Balance at January 31, 2021 $ 91,970 $ 156,040 $ 248,010
Additions 46,591 286,778 333,369
Balance at January 31, 2022 $ 138,561 $ 442,818 $ 581,379
Additions **** - **** 35,150 **** 35,150
Balance at October 31, 2022 $ 138,561 $ 477,968 $ 616,529
Accumulated amortization:
Balance as at January 1, 2021 $ - $ - $ -
Amortization 18,990 43,611 62,601
Balance as at January 31, 2022 $ 18,990 $ 43,611 $ 62,601
Amortization 20,724 70,380 91,104
Balance as at October 31, 2022 $ 39,714 $ 113,991 $ 153,705
Net Book Value
Balance, October 31, 2022 $ 98,847 $ 363,977 $ 462,824
Balance, January 31, 2022 $ 119,571 $ 399,207 $ 518,778

SELECTED FINANCIAL INFORMATION

The following table contains selected consolidated financial information of the Company for the three and nine months ended October 31, 2022 and 2021.

3 months ended October 31,2022<br><br> <br>$ 3 months ended October 31,2021<br><br> <br>$ 9 months ended October 31, 2022<br><br> <br>$ 9 months ended October 31, 2021<br><br> <br>$
Revenue 3,500 50,640 30,300 100,280
Gross profit 3,500 33,840 21,900 58,680
Total operating expenses (462,727) (496,959) (1,165,403) (1,318,571)
Loss and comprehensive loss (459,227) (463,119) (1,143,503) (1,259,891)
Income (Loss) per common share - basic and diluted (0.004) (0.004) (0.010) (0.012)
Weighted average number of common shares outstanding- 116,480,640 108,801,292 111,554,955 107,605,972

The chart below presents the summary financial information of the Company:

As at October 31, 2022<br><br> <br>$ As at January 31, 2022<br><br> <br>$
Current assets 388,122 641,624
Non-current assets 561,636 595,033
Total assets 949,758 1,236,657
Current liabilities 620,038 349,672
Total long-term liabilities - -
Shareholders' equity 329,720 886,985
Cash dividends per common share - -

OVERALL PERFORMANCE AND RESULTS OF OPERATIONS

For the For the For the For the
three three nine nine
months months months months
ended ended ended ended
October 31, October 31, October 31, October 31,
2022 2021 2022 2021
Revenue $ 3,500 $ 50,640 $ 30,300 $ 100,280
Cost of Revenue - 16,800 8,400 41,600
Gross profit 3,500 33,840 21,900 58,680
Expenses:
Administration and general $ 19,149 $ 14,344 $ 51,220 $ 27,431
Amortization (Notes 7,8) 40,817 614 118,195 1,842
Audit and accounting - 300 15,000 5,983
Consulting fees 152,916 35,984 254,042 160,656
Investor relations - 53,509 51,936 53,509
Legal fees 3,700 77,464 34,373 154,753
Management fees (Note 12) 80,500 71,870 214,740 202,270
Marketing expenses 86,299 112,726 207,886 350,323
Payroll and related 34,563 54,397 83,133 96,123
Rent expenses (Note 12) 9,128 9,047 26,658 24,047
Share based compensation (Note 10) - 28,166 16,438 149,818
Transfer agent and filing fees 20,317 13,564 53,517 42,049
Travel, entertainment and related 6,338 15,974 11,265 22,767
Vehicle use expenses (Note 12) 9,000 9,000 27,000 27,000
Total operating expenses $ (462,727 ) $ (496,959 ) $ (1,165,403 ) $ (1,318,571 )
Loss and comprehensive loss $ (459,227 ) $ (463,119 ) $ (1,143,503 ) $ (1,259,891 )
Loss per share-Basic and Diluted $ (0.004 ) $ (0.004 ) $ (0.010 ) $ (0.012 )
Weighted average number of shares outstanding-Basic and Diluted 116,480,640 108,801,292 111,554,955 107,605,972

Revenues

The Company generated revenue of $ 3,500 during the three months ended October 31, 2022 (October 31, 2021- $50,640). The revenue comprised of monthly scanning revenue relating to its business focus and development of artificial intelligence ("AI") technologies. The Company focus during the three- month ended October 31, 2022, was validation of its technology.

Expenses and Net Loss

Total operating expenses for the three months ended October 31, 2022, were $462,727 (October 31, 2021 - $496,959) and for the nine months ended October 31, 2022 were $1,165,403 (October 31, 2021 - $1,318,571).

Significant variances for the 3 months ended October 31, 2022 and 2021

Amortization expense for the period ended October 31, 2022 was $ 40,817 as compared to $614 for the prior period. The major expense during the current period was the amortization of Intangibles for $31,373 (prior period $ nil). During the latter part of the prior year, the Company commenced amortization of intangibles on a straight-line basis over the estimated useful life for 5 years. In addition, the Company amortized property and equipment for the current period for $9,444 as compared to $614 for the prior period.

Management fees for the three months ended October 31, 2022 consist of fees paid to senior management or to Companies owned by senior management (1) $30,000 (prior period $28,500) to the CEO for services, (2) $25,500 (prior period $25,500) to the COO for services and (3) $25,000 (prior period $17,870) paid to the CFO for services.

Noncash share-based compensation of $nil for the three months ended October 31, 2022 (prior period $28,166), consists of the fair value (Black- Scholes calculation) of the vesting of options to directors, officers and consultants.

Consulting fees costs for $152,916 for the three months ended October 31, 2022 (prior period $35,984) consists primarily of fees paid to consultants to assist with operations of the Company. The increase in consulting fees during the period ended October 31, 2022, as compared to 2021 was a result of the Company hiring consultant services and paying compensation with issuance of common shares during the current period.

Marketing expenses for $86,299 for the three months ended October 31, 2022 (prior period $112,726) consists primarily of media marketing of the Company and its products. The reduction in costs during the current period is a result of Company's effort to reduce costs until additional funding is available.

Payroll and related costs for $34,563 (prior period $54,397) relates to employment of technical staff to assist with the growth of business. The reduction in payroll costs was the result of increase in the hiring of consultants.

Legal fees for $3,700 for the three months ended October 31, 2022 (prior period $77,464) consists primarily of legal fees paid for running the business of the Company. In the prior period, additional legal fees was incurred to register the Company with the SEC.

Transfer agent and filing fees for $20,317 (prior period $13,564) for the three months ended October 31, 2022 is primarily the costs of filing and compliance for the Company's listings in Canada and USA.

Significant variances for the nine months ended October 31, 2022 and 2021

Amortization expense for the period ended October 31, 2022 was $ 118,195 as compared to $1,842 for the prior period. The major expense during the current period was the amortization of Intangibles for $91,104 (prior period $ nil). During the latter part of the prior year, the Company commenced amortization of intangibles on a straight-line basis over the estimated useful life for 5 years. In addition, the Company amortized property and equipment for the current period for $27,091 as compared to $1,842 for the prior period.

Management fees for the nine months ended October 31, 2022 consist of fees paid to senior management or to Companies owned by senior management (1) $90,000 (prior period $79,500) to the CEO for services, (2) $76,500 (prior period $66,500) to the COO for services and (3) $48,240 (prior period $56,270) to the CFO for services.

Noncash share-based compensation of $16,438 for the nine months ended October 31, 2022 (prior period $149,818), consists of the fair value (Black- Scholes calculation) of the vesting of options to directors, officers and consultants.

Consulting fees costs for $254,042 for the nine months ended October 31, 2022 (prior period $160,656) consists of fees paid to consultants to assist with the operations of the Company. The increase in consulting fees during the period ended October 31, 2022, as compared to 2021 was a result of the Company hiring consultant services and paying compensation with issuance of common shares during the current period.

Marketing expenses for $207,886 for the nine months ended October 31, 2022 (prior period $350,323) consists primarily of media marketing of the Company and its products. The reduction in costs during the current period is a result of Company's effort to reduce costs until additional funding is available.

Payroll and related costs for $83,133 (prior period $96,123) relates to employment of technical staff to assist with the growth of business.

Legal fees for the nine months ended October 31, 2022 was $34,373 as compared to legal fees for $154,753 for the nine months ended October 31, 2021. This consists primarily of legal fees paid for running the business of the Company. The increase in fees in the prior period was primarily in relation to the legal expenses incurred for applying for a listing in the USA.

Transfer agent and filing fees for $53,517 (prior period $42,049) for the nine months ended October 31, 2022 is primarily the costs of filing and compliance for the Company's listings in Canada and USA. The Company is also a reporting issuer under the United States Securities Exchange Act of 1934.

No cash dividends have been paid by the Company.  The Company has no present intention of paying cash dividends on its common shares as it anticipates that all available funds will be invested to finance existing activities.

The following table summarizes financial information for the three months ended July 31, 2022 and the preceding seven quarters:

**** Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021
Revenue 3,500 5,300 21,500 34,540 50,640 49,640 - -
Net income (loss) (459,227 (373,008 (311,268 (622,287 (463,119 (382,586 (414,186 (632,471
Income (Loss) per share, basic and fully diluted (0.004 (0.003 (0.003 (0.006 (0.004 (0.004 (0.004 (0.006
Cash dividends for common shares - - - - - - - -

All values are in US Dollars.

CRITICAL ACCOUNTING ESTIMATES

Preparing financial statements in conformity with IFRS requires the Company to select from possible alternative accounting principles. Estimates also affect classification and reported amounts for various assets, liabilities, equity balances, revenues and expenses. Prior estimates are revised as new information is obtained and are subject to change in future periods.  Management believes the accounting policies and estimates used in preparing the consolidated financial statements are considered appropriate in the circumstances but are subject to numerous judgments and uncertainties inherent in the financial reporting process.

The preparation of these condensed interim consolidated financial statements requires management to make judgements regarding the going concern of the Company, as well as the determination of functional currency. The functional currency is the currency of the primary economic environment in which an entity operates and has been determined for each entity within the Company. The functional currency for the Company and its subsidiary has been determined to be the Canadian dollar.

Income taxes - There are many transactions and calculations undertaken during the ordinary course of business for which the ultimate tax determination is uncertain.  The Company recognizes liabilities based on the Company's current understanding of tax laws as applied to the Company's circumstances.  Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will impact the current and deferred tax provisions in the period in which such determination is made.

Stock option valuation ‐ Issuances and grants of share options are valued using the fair value method.  Management uses the Black-Scholes valuation model to estimate the fair value of options determined at grant date.  Grants of options result in non-cash charges to expense and a corresponding credit to share-based payment reserves.  Charges associated with granted options are recorded over the vesting period.  Significant assumptions affecting valuation of options include the trading value of the Company's shares at the date of grant, the exercise price, the term allowed for exercise, a volatility factor relating to the Company's historical share price, forfeiture rates, dividend yield and the risk-free interest rate.

Useful life of property and equipment - Property and equipment is depreciated over its estimated useful life. Estimated useful lives are determined based on current facts and past experience and takes into consideration the anticipated physical life of the asset, potential for technological obsolescence, and regulations.

Useful life of intangible assets - The intangible asset is depreciated over its estimated useful life. Estimated useful lives are determined based on current facts and past experience and takes into consideration the anticipated life of the asset, the potential for technological obsolescence, and regulations.

COVID-19 Estimation Uncertainty

In March 2020, the World Health Organization declared coronavirus COVID-19 a global pandemic. This contagious disease outbreak, which has continued to spread, and any related adverse public health developments, has adversely affected workforces, economies, and financial markets globally, potentially leading to an economic downturn. It is not possible for the Company to predict the duration or magnitude of the adverse results of the outbreak and its effects on the Company's business or ability to raise funds.

LIQUIDITY AND CAPITAL RESOURCES

At October 31, 2022 the Company had cash and cash equivalents of $107,190 and working capital deficit of $231,916.

During the nine months ended October 31, 2022, the Company was provided cash of $461,800 from financing activities, used $481,114 in operating activities and used $84,798 in investing activities.

During the nine months ended October 31, 2021, the Company was provided cash of $1,681,628 from financing activities, used $1,387,016 in operating activities and used $200,211 in investing activities.

At January 31, 2022, the Company had cash and cash equivalents of $211,302 and working capital of $291,952.

The Company has financed its operations from inception to date through the issuance of equity shares.

During the nine months ended October 31, 2022, the Company had cash outflows from operating activities of $481,114 (prior period outflows for $1,387,016), which was a result of the net loss of $1,143,503 (prior period $1,259,891), reduced by the non- cash items included in net loss of $242,633 (prior period reduced by $151,660) and reduced by changes in non-cash working capital of $419,756 (prior period increased by $278,785). There was an overall decrease in cash outflows from operating activities by $905,902 in the current period as compared to the prior period.

The non- cash items included in net loss for the period ended October 31, 2022, includes amortization of intangible assets for $91,104 (prior period $nil), amortization of property and equipment for $27,091 (prior period $ 1,842), share based compensation of $16,438 (prior period $149,818) and shares issued for services for $108,000 (prior period $nil).

The non-cash working capital adjustments for the period ended October 31, 2022, includes inflow as a result of decrease in sales tax receivable for $150,966 (prior period increase of $88,275), inflow as a result of decrease in prepaid expenses for $20,564 (prior period outflow as a result of increase in prepaid expenses for $25,161), outflow as a result of increase in accounts receivable by $22,140 (prior period increase of $133,170),  inflow as a result of increase in accounts payable and accrued liabilities for $280,866 (prior period outflow as a result of decrease for $50,899) and outflow as a result of decrease in deferred revenue for $10,800 (prior period inflow as a result of increase of $18,720).

The Company had outflow from investing activities during the period ended October 31, 2022 for $84,798 (prior period outflow for $200,211). During the current period, the Company purchased property and equipment for $49,648 (prior period $nil) and invested in intangible assets for $35,150 (prior period $200,211).

The Company had inflow from financing activities during the prior period ended October 31, 2021 for $1,681,628 (current period $461,800).  During the prior period ended October 31, 2021, the Company received 1,090,085 proceeds of private placement of units and incurred $3,770 as share issue expenses. In addition, during the prior period the Company received proceeds of $595,313 from exercise of options. During the current period the Company received 415,000 proceeds of private placement of units and incurred $33,200 as share issue expenses. In addition, the Company received $80,000 as subscription for units, which were issued after the end of the quarter (refer to subsequent events).

The Company has financed its operations from inception to date through the issuance of equity shares.

The Company as of October 31, 2022 has commenced to generate revenues; as such, administrative and other expenses exceed available cash resources and additional funding will be required to further its projects and to meet ongoing requirements for general operations. The ability of the Company to continue as a going concern is dependent on raising additional financing, development of its projects and generation of profitable operations.

As such, the Company believes it will require additional funding over the next 12 months.

The Company's objectives when managing its capital structure are to preserve the Company's access to capital markets and its ability to meet its financial obligations.

Based on available funds, the Company manages its capital structure and makes adjustments to it to maintain flexibility while achieving the objectives stated above as well as support future business opportunities.

To manage the capital structure, the Company may adjust its project plans, operating expenditure plans, or issue new common shares.

The Board of Directors does not establish quantitative return on capital criteria for management, but rather relies on the expertise of the Company's management to sustain future development of the business. The Company is not subject to externally imposed capital requirements or covenants.

OUTSTANDING SHARE DATA

At October 31, 2022 the Company had 119,251,292 common shares outstanding. As of date of the MD&A, the Company has 122,051,292 common shares outstanding.

At October 31, 2022, the Company had 580,000 outstanding stock options and 7,264,569 warrants. As of date of the MD&A, the Company has 330,000 outstanding stock options and 8,064,569 warrants.

a) Common shares

The holders of common shares are entitled to receive dividends which are declared from time to time and are entitled to one vote per share at meetings of the Company. All shares are ranked equally with regards to the Company's residual assets.

b) Share issuances

During the nine- month period ended October 31, 2022

  • On August 22, 2022, the Company closed the first tranche of a private placement of 8,300,000 units at $0.05 per unit for a consideration of $415,000. Each unit is comprised of one common share and one-half common share purchase warrant, with each whole warrant exercisable into a common share of the Company at an exercise price of $0.10 per share for a period of 24 months. The Black-Scholes option pricing model was used to determine the fair value of the warrants using the following weight average assumptions:  Expected dividend yield of 0%; risk free interest rate of 1.5%; expected volatility of 133%; expected life of 2 years.  The relative fair value of the 4,150,000 warrants has been valued at $106,250 and common shares at $308,750. In connection with this private placement, the Company incurred $33,200 in share issuance costs.

  • On August 22, 2022, 1,200,000 shares were fair valued at $72,000 and issued for services.

  • On September 30, 2022, 200,000 shares were fair valued at $12,000 and issued for services.

  • On October 24, 2022, 300,000 shares were fair valued at $15,000 and issued for services.

  • On October 31, 2022, 200,000 shares were fair valued at $9,000 and issued for services.

During this period the Company also received $80,000 being subscription for 1,600,000 units (the "Units") at a price of $0.05 per unit. (See subsequent event note)

During the year ended January 31, 2022

  • On March 5, 2021, the Company closed a private placement of 3,114,569 units at $0.35 per unit for a consideration of $1,090,085. Each unit is comprised of one common share and one common share purchase warrant, with each warrant exercisable into a common share of the Company at an exercise price of $0.50 per share for a period of 24 months. The Black-Scholes option pricing model was used to determine the fair value of the warrants using the following weight average assumptions:  Expected dividend yield of 0%; risk free interest rate of 0.29%; expected volatility of 131%; expected life of 2 years.  The relative fair value of the warrants has been valued at $394,681 and common shares at $695,404. In connection with this private placement, the Company incurred $3,770 in share issuance costs.
  • 3,968,750 shares were issued upon exercise of 3,968,750 options at a price of $0.15 per share for total gross proceeds of $595,313. An amount of $361,284 was reclassed from share-based payment reserve to share capital.
  • 250,000 shares were fair valued at $36,250 and issued for services.

a) Warrants

Continuity of the Company's warrants is as follows:

**** Number of Warrants Weighted Average Exercise Price
Outstanding, January 31, 2021 1,548,000 $ 0.50
Issued 3,114,569 $ 0.50
Expired (1,548,000 ) $ 0.50
Outstanding, January 31, 2022 3,114,569 $ 0.50
Issued 4,150,000 $ 0.10
Expired - -
Outstanding, October 31, 2022 7,264,569 $ 0.27

As at October 31, 2022, the Company had the following warrants outstanding:

Outstanding Exercise Price Remaining Life (Years) Expiry Date
3,114,569 $0.50 0.34 March 5, 2023
4,150,000 $0.10 1.81 August 22, 2024
7,264,569 $0.27 1.18

(c) Stock Options

The Company has established a stock option plan whereby officers, directors, employees and service providers may be granted options to purchase common shares at a fixed price. Vesting and expiry provisions are determined at the date of grant. The plan provides for the issuance of stock options to acquire up to 10% of the Company's issued and outstanding capital.  The plan is a rolling plan as the number of shares reserved for issuance pursuant to the grant of stock options will increase as the Company's issued and outstanding share capital increases.

Nine- month period ended October 31, 2022

(a) The Company expensed $1,834 relating to the vesting of options issued on March 23, 2021, resulting in unvested stock- based compensation expense of $nil as of October 31, 2022.

(b) The Company expensed $6,778 relating to the vesting of options issued on June 9, 2021, resulting in unvested stock- based compensation expense of $nil as of October 31, 2022.

(c) The Company expensed $7,826 relating to the vesting of options issued on July 30, 2021, resulting in unvested stock- based compensation expense of $nil as of October 31, 2022.

As of October 31, 2022, there was $nil of unvested stock-based compensation expense.

Continuity of the Company's options is as follows:

**** Number of Options Weighted Average Exercise Price
Outstanding, January 31, 2022 1,100,000 $ 0.42
Expired (70,000 ) $ 0.54
Expired (200,000 ) $ 0.54
Expired (250,000 ) $ 0.36
Outstanding, October 31, 2022 580,000 $ 0.40

As at October 31, 2022, the Company had the following share purchase options outstanding and exercisable:

Outstanding Exercisable Exercise Price Remaining Life (Years) Expiry Date
80,000 80,000 $1.02 2.71 July 17, 2025
250,000 250,000 $0.35 0.11 December 9, 2022
250,000 250,000 $0.25 0.75 July 30, 2023
580,000 580,000 $0.40 0.74

FINANCIAL INSTRUMENTS AND RISK MANAGEMENT

The fair value of the Company's accounts receivables and accounts payable, approximate carrying value, due to their short-term nature.  The Company's cash is measured at fair value under the fair value hierarchy based on level one quoted prices in active markets for identical assets or liabilities.

Financial risk management and objectives

The Company's activities expose it to a variety of financial risks: credit risk, liquidity risk, and market risk (including interest rate risk, foreign currency risk, and commodity price risk).

The Company thoroughly examines the various financial risks to which it is exposed and assesses the impact and likelihood of those risks.  Where material, these risks are reviewed and monitored by the Board of Directors.

Credit risk

Credit risk is the risk of an unexpected loss if a customer or third party to a financial instrument fails to meet its contractual obligations. The Company is exposed to credit risk as during the period ended October 31, 2022, one customer represented 94% of the total revenue and represented 99% of the total accounts receivable.

Liquidity risk

Liquidity risk is the risk that the Company will not have sufficient cash resources to meet its financial obligations as they come due. The Company's liquidity and operating results may be adversely affected if its access to the capital market is hindered, whether as a result of a downturn in stock market conditions generally or matters specific to the Company. The Company historically has generated cash flows primarily from its financing activities.

The Company manages its liquidity needs by carefully monitoring scheduled costs. Liquidity is measured in various time bands, on day to day and week-to-week basis, as well as on long term liquidity needs over 180 day to 360 day look out periods. Funding for long term liquidity needs is based on the ability of the Company to successfully complete private placements.

As at October 31, 2022, the Company had cash and cash equivalents of $107,190 to settle current liabilities of $620,038.

Market Risk

Market risk is the risk of loss that may arise from changes in market factors such as interest rates, commodity and equity prices, and foreign exchange rates.

(a) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is not exposed to significant interest rate risk.

(b) Price risk

The Company is not exposed to significant price risk as it does not possess investments in publicly traded securities.

(c) Currency risk

Currency risk is the risk that the fair value of future cash flows of a financial instrument denominated in a foreign currency will fluctuate because of changes in foreign exchange rates. Effective sale of the Company's interest in Cultivar JA in March 2020, the Company has no exposure to any currency except Canadian dollars.

Subsequent Events

On November 1, 2022, the Company announced that it has closed the tranche of a non-brokered private placement. Pursuant to the Tranche, the Company issued 1,600,000 units (the "Units") at a price of $0.05 per unit to investors for gross proceeds of $80,000. Each Unit consists of one common share of the Company and one-half (1/2) of one common share purchase warrant (each whole warrant, a "Warrant"), whereby each Warrant entitles the holder to purchase one additional common share for a period of two years from closing at an exercise price of $0.10 per share.

The Company issued 1,200,000 common shares for services.

OFF-BALANCE SHEET ARRANGEMENTS

The Company has not entered into any material off-balance sheet arrangements such as guarantee contracts, contingent interests in assets transferred to unconsolidated entities, derivative instrument obligations, or with respect to any obligations under a variable interest entity arrangement.

TRANSACTIONS WITH RELATED PARTIES

Related parties include key management personnel, the Board of Directors, close family members and enterprises that are controlled by these individuals as well as certain persons performing similar functions. Key management of the Company are members of the Board of Directors, the Chief Executive Officer ("CEO"), the Chief Financial Officer ("CFO") and the Chief Operating Officer ("COO"). Transactions with key management personnel not disclosed elsewhere in the financial statements include the following:

**** Nine months ended October 31, 2022 **** Nine months<br> ended October<br> 31, 2021
Management fees to the CEO $ 90,000 $ 79,500
Management fees to the COO 76,500 66,500
Management fees to the CFO 48,240 56,270
Total Management fees $ 214,740 $ 202,270
Vehicle expense to the CEO 13,500 13,500
Vehicle expense to the COO 13,500 13,500
Rent to the CEO included in rent expense 18,000 22,500
$ 259,740 $ 251,770
**** Three months ended October 31, 2022 **** Three months ended October<br> 31, 2021
--- --- --- --- ---
Management fees to the CEO $ 30,000 $ 28,500
Management fees to the COO 25,500 25,500
Management fees to the CFO 25,000 17,870
Total Management fees $ 80,500 $ 71,870
Vehicle expense to the CEO 4,500 4,500
Vehicle expense to the COO 4,500 4,500
Rent to the CEO included in rent expense 6,000 7,500
$ 95,500 $ 88,370

During the nine months ended October 31, 2022, the Company expensed $113,000 (October 31, 2021: $93,000) being marketing expenses to companies controlled by the children of the CEO.

As of October 31, 2022, there was $67,988 due to related parties (October 31, 2021- $nil).

Notes:

a) The management fees paid to the CEO, COO and CFO as detailed above are routine and regular compensation for services provided on an ongoing basis to the Company.

b) Marketing fees paid to Companies owned by children of the CEO, relates to services for marketing, website development/support/maintenance as well as content creation services. In addition, services include providing operational and project management services.

BOARD PURPOSE AND FUNCTION

The directors and management of the parent company have experience operating in Canada and the United States and taking projects through to various stages of development. The Board's purpose is to ensure corporate governance, risk, strategy and shareholder interests are priorities at all times.

COMMITMENTS AND CONTINGENCIES

Effective July 1, 2022, the Company signed a two-year contract with a corporation owned and controlled by the CEO to pay monthly compensation of $10,000 for CEO services. In addition, the Company is obligated to pay monthly rent for $2,000 and an additional $1,500 for the use of a personal vehicle.

Effective July 1, 2022, the Company signed a two-year contract with a corporation owned and controlled by the COO to pay monthly compensation of $8,500 for COO services. In addition, the Company is obligated to pay an additional $1,500 for the use of a personal vehicle.

CONTROL AND PROCEDURES

The Chief Executive Officer and Chief Financial Officer are responsible for designing internal controls over financial reporting to provide reasonable assurance regarding the reliability of financial reporting and the preparation of the Company's financial statements for external purposes in accordance with IFRS.

Based on this assessment, it was determined that certain weaknesses existed in internal controls over financial reporting.  As indicative of many small companies, the lack of segregation of duties and effective risk assessment were identified as areas where weaknesses existed.  The existence of these weaknesses is to be compensated for by senior management monitoring, which exists.  The officers will continue to monitor very closely all financial activities of the Company and increase the level of supervision in key areas.  It is important to note that this issue would also require the Company to hire additional staff in order to provide greater segregation of duties. Since the increased costs of such hiring could burden the Company's financial resources, management has chosen to disclose the potential risk in its filings and proceed with increased staffing only when the budgets and workload will enable the action.  The Company has attempted to mitigate these weaknesses, through a combination of extensive and detailed review by the CFO of the financial accounting and reporting.

(a) The Company being a venture issuer, is not required to certify the design and evaluation of the Company's Disclosure Control and Procedures ("DC&P") and Internal Control Over Financial Reporting ("ICFR") and has not completed such an evaluation; and

(b) inherent limitations on the ability of the certifying officers to design and implement on a cost effective basis DC&P and ICFR for the issuer may result in additional risks to the quality, reliability, transparency and timeliness of interim and annual filings and other reports provided under securities legislation.

RISKS AND UNCERTAINTIES

The Company is subject to a number of risks and uncertainties due to the nature of its business and the present stage of development of its business.  Current and potential investors should give special consideration to the risk factors involved, should the Company continue in the cannabis business.

Management

Dependence on Key Personnel, Contractors and Service Providers, shareholders of our Company rely on the good faith, experience and judgment of the Company's management and advisors in supervising and providing for the effective management of the business and the operations of the Company and in selecting and developing new investment and expansion opportunities.  The Company may need to recruit additional qualified contractors and service providers to supplement existing management.  The Company will be dependent on a relatively small number of key persons, the loss of any one of whom could have an adverse effect on the Company.

Value of Our Common Shares

The value of the Company's common shares could be subject to significant fluctuations in response to variations in and annual operating results, the success of the Company's business strategy, competition or other applicable regulations which may affect the business of the Company and other factors.

Impact of Covid-19

Since December 31, 2019, the outbreak of the novel strain of coronavirus, specially identified as "COVID-19" has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. These measures which include the implementation of travel bans, self-imposed quarantine periods and social distancing, have caused material disruption to businesses globally resulting in an economic slowdown. Global equity markets have experienced significant volatility and weakness. Governments and central banks have reacted with significant monetary and fiscal interventions designed to stabilize economic conditions. The duration and impact of the COVID-19 outbreak is unknown at this time, as is the efficacy of the government and central bank interventions. It is not possible to reliably estimate the length and severity of these developments and the impact on the financial results and condition of the Corporation and its operating subsidiaries in future periods.

Additional Funding and Financing Risk

Additional funds will be required for future development.  The source of future funds available to the Company is through the sale of additional equity capital or borrowing of funds.  There is no assurance that such funding will be available to the Company. Furthermore, even if such financing is successfully completed, there can be no assurance that it will be obtained on terms favorable to the Company or will provide the Company with sufficient funds to meet its objectives, which may adversely affect the Company's business and financial position.  In addition, any future equity financings by the Company may result in substantial dilution for existing shareholders.

Uninsured Hazards

The Company currently carries no insurance coverage.  The potential costs that could be associated with any liabilities not covered by insurance or compliance with applicable laws and regulations may cause substantial delays and require significant capital outlays, adversely affecting the Company's financial position.

Conflicts of Interest

Certain Directors and Officers of the Company also serve as Directors and officers of other companies involved in development and production.  Consequently, there exists the possibility that such Directors or Officers may be in a position of conflict of interest.  Any decision made by such Directors or Officers involving the Company are made in accordance with their duties and obligations to deal fairly and in good faith with the Company and such other companies.  In addition, such Directors will declare and refrain from voting on, any matter in which such Directors may have a material conflict of interest.

General Venture Company Risks

The common shares must be considered highly speculative due to the nature of the Company's business, the early stage of its deployment, its current financial position and ongoing requirements for capital. An investment in the common shares should only be considered by those persons who can afford a total loss of investment and is not suited to those investors who may need to dispose of their investment in a timely fashion. Investors should consult with their own professional advisors to assess the legal, financial and other aspects of an investment in common shares.

Uncertainty of Revenue Growth

There can be no assurance that the Company can generate substantial revenue growth, or that any revenue growth that is achieved can be sustained. Revenue growth that the Company has achieved or may achieve may not be indicative of future operating results. In addition, the Company may increase further its operating expenses in order to fund increase its sales and marketing efforts and increase its administrative resources in anticipation of future growth. To the extent that increases in such expenses precede or are not subsequently followed by increased revenues, the Company's business, operating results and financial condition will be materially adversely affected.

Marketing and Distribution Capabilities

In order to commercialize its technology, the Company must either acquire or develop an internal marketing and sales force with technical expertise and with supporting distribution capabilities or arrange for third parties to perform these services. In order to market certain of its products, the Company must either acquire or develop a sales and distribution infrastructure. In order to maximize sales of other products, the Company may determine that it needs to either acquire or develop a sales and distribution infrastructure. The acquisition or development of a sales and distribution infrastructure would require substantial resources, which may divert the attention of its management and key personnel and defer its product development and deployment efforts. To the extent that the Company enters into marketing and sales arrangements with other companies, its revenues will depend on the efforts of others. These efforts may not be successful. If the Company fails to develop substantial sales, marketing and distribution channels, or to enter into arrangements with third parties for those purposes, it will experience delays in product sales and incur increased costs.

Rapid Technological Development

The markets for the Company's products and services are characterized by rapidly changing technology and evolving industry standards, which could result in product obsolescence or short product life cycles. Accordingly, the Company's success is dependent upon its ability to anticipate technological changes in the industries it serves and to successfully identify, obtain, develop and market new products that satisfy evolving industry requirements. There can be no assurance that the Company will successfully develop new products or enhance and improve its existing products or that any new products and enhanced and improved existing products will achieve market acceptance. Further, there can be no assurance that competitors will not market products that have perceived advantages over the Company's products or which render the products currently sold by the Company obsolete or less marketable. Regardless of the Industry as a whole, the less lethal sector moves somewhat slower in the adaptation and integration of new products.

The Company must commit significant resources to developing new products before knowing whether its investments will result in products the market will accept. To remain competitive, the Company may be required to invest significantly greater resources then currently anticipated in research and development and product enhancement efforts and result in increased operating expenses.

Competition

The Company's industry is competitive and composed of many foreign companies. The Company expects to experience competition from competitors whom it expects to continue to improve their products and technologies. Competitors may announce and introduce new products, services or enhancements that better meet the needs of end-users or changing industry standards, or achieve greater market acceptance due to pricing, sales channels or other factors. Competitors may be able to respond more quickly than the Company to changes in end-user requirements and devote greater resources to the enhancement, promotion and sale of their products.

Intellectual Property

The Company's ability to compete effectively will depend, in part, on its ability to maintain the proprietary nature of its technology and manufacturing processes. Although the Company considers certain of its product designs as well as manufacturing processes involving certain of its products to be proprietary, patents or copyrights do not protect all design and manufacturing processes. The Company has adopted procedures to protect its intellectual property and maintain secrecy of its confidential business information and trade secrets. However, there can be no assurance that such procedures will afford complete protection of such intellectual property, confidential business information and trade secrets. There can be no assurance that the Company's competitors will not independently develop technologies that are substantially equivalent or superior to the Company's technology.

To protect the Company's intellectual property, it may become involved in litigation, which could result in substantial expenses, divert the attention of its management, cause significant delays and materially disrupt the conduct of its business.

Business Segment and Concentration

The Company, through its subsidiaries, is currently focused on artificial intelligence ("AI") technologies which are targeting two specific areas: 1) workplace health and safety and 2) healthcare.  All assets are located in Canada except property and equipment for $59,525 which is located in India.

During the nine months ended October 31, 2022, one customer represented 94% of the total revenue and represented 99% of the total accounts receivable.

STRATEGY AND OUTLOOK

Our objective is to maximize the value of the Company for our shareholders and our strategy to obtain this result is to continually seek opportunities to participate in new ventures primarily in AI.

Predictmedix Inc.: Exhibit 99.5 - Filed by newsfilecorp.com

FORM 52-109FV2

CERTIFICATION OF INTERIM FILINGS

VENTURE ISSUER BASIC CERTIFICATE

I, Sheldon Kales, Chief Executive Officer of Predictmedix Inc., certify the following:

  1. Review: I have reviewed the interim financial report and interim MD&A (together, the "interim filings") of Predictmedix Inc. (the "issuer") for the interim period ended October 31, 2022.

  2. No misrepresentations: Based on my knowledge, having exercised reasonable diligence, the interim filings do not contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it was made, with respect to the period covered by the interim filings.

  3. Fair presentation: Based on my knowledge, having exercised reasonable diligence, the interim financial report together with the other financial information included in the interim filings fairly present in all material respects the financial condition, financial performance and cash flows of the issuer, as of the date of and for the periods presented in the interim filings.

Date: December 29, 2022.

/s/ "Sheldon Kales"
Sheldon Kales
Chief Executive Officer

NOTE TO READER

In contrast to the certificate required for non-venture issuers under National Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings (NI 52-109), this Venture Issuer Basic Certificate does not include representations relating to the establishment and maintenance of disclosure controls and procedures (DC&P) and internal control over financial reporting (ICFR), as defined in NI 52-109. In particular, the certifying officers filing this certificate are not making any representations relating to the establishment and maintenance of

I. controls and other procedures designed to provide reasonable assurance that information required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation; and

II. a process to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with the issuer's GAAP.

The issuer's certifying officers are responsible for ensuring that processes are in place to provide them with sufficient knowledge to support the representations they are making in this certificate. Investors should be aware that inherent limitations on the ability of certifying officers of a venture issuer to design and implement on a cost effective basis DC&P and ICFR as defined in NI 52-109 may result in additional risks to the quality, reliability, transparency and timeliness of interim and annual filings and other reports provided under securities legislation.

Predictmedix Inc.: Exhibit 99.6 - Filed by newsfilecorp.com

FORM 52-109FV2

CERTIFICATION OF INTERIM FILINGS

VENTURE ISSUER BASIC CERTIFICATE

I, Rakesh Malhotra, Chief Financial Officer of Predictmedix Inc., certify the following:

  1. Review: I have reviewed the interim financial report and interim MD&A (together, the "interim filings") of Predictmedix Inc. (the "issuer") for the interim period ended October 31, 2022.

  2. No misrepresentations: Based on my knowledge, having exercised reasonable diligence, the interim filings do not contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it was made, with respect to the period covered by the interim filings.

  3. Fair presentation: Based on my knowledge, having exercised reasonable diligence, the interim financial report together with the other financial information included in the interim filings fairly present in all material respects the financial condition, financial performance and cash flows of the issuer, as of the date of and for the periods presented in the interim filings.

Date: December 29, 2022.

/s/ "Rakesh Malhotra"
Rakesh Malhotra<br><br> <br>Chief Financial Officer

NOTE TO READER

In contrast to the certificate required for non-venture issuers under National Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings (NI 52-109), this Venture Issuer Basic Certificate does not include representations relating to the establishment and maintenance of disclosure controls and procedures (DC&P) and internal control over financial reporting (ICFR), as defined in NI 52-109. In particular, the certifying officers filing this certificate are not making any representations relating to the establishment and maintenance of

I. controls and other procedures designed to provide reasonable assurance that information required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation; and

II. a process to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with the issuer's GAAP.

The issuer's certifying officers are responsible for ensuring that processes are in place to provide them with sufficient knowledge to support the representations they are making in this certificate. Investors should be aware that inherent limitations on the ability of certifying officers of a venture issuer to design and implement on a cost effective basis DC&P and ICFR as defined in NI 52-109 may result in additional risks to the quality, reliability, transparency and timeliness of interim and annual filings and other reports provided under securities legislation.

Predictmedix Inc.: Exhibit 99.7 - Filed by newsfilecorp.com

Predictmedix Provides Corporate Update on Key Technology Milestones and Commercialization Outlook for 2023

TORONTO, ON / ACCESSWIRE / January 16, 2023 / Predictmedix Inc. ("Predictmedix" or the "Company") (CSE:PMED)(OTCQB:PMEDF), an emerging provider of rapid health screening solutions powered by a proprietary artificial intelligence (AI), today announced a corporate update providing key technology milestones and commercialization outlook for the 2023 calendar year.

"Since the beginning of 2022, Safe Entry has evolved into a complete solution for workplaces around the world, helping companies and organizations ensure the health and safety of their employees to minimize accidents and liability. Safe Entry started as an advanced screener for identifying symptoms of Covid-19, and then we began testing Safe Entry to identify signs of impairment from alcohol and cannabis. After numerous trade shows, demos, events, and client placements we realized the urgent demand from multiple industries for a complete solution to ensure employee health and safety. Safe Entry has now evolved into a Fit for Duty solution as we call it, identifying not only signs of infectious diseases and impairment, but also signs of extreme fatigue, key vitals, and other important metrics for identifying overall Fit for Duty readiness," stated Dr. Rahul Kushwah, Chief Operating Officer at Predictmedix.

"To date, we have successfully published four (4) peer-reviewed publications. Our peer-reviewed publications in scientific journals are crucial in our commercialization plan - as it adds credibility and validation for our Fit for Duty screening technology and also gives our customers confidence in using Safe Entry as a complete workplace solution for health and safety screening. With our strong technological pipeline, we believe Predictmedix is at a commercial-ready stage and able to meet the demand for Safe Entry's Fit for Duty solutions from our prospective customers".

Technology Milestones

Significant technology upgrades have been made to Safe Entry in 2022. Physically, several upgrades such as the camera units, sensors and chips, general materials to fabricate the Safe Entry Stations and the process of fabricating were made. We've received ample positive feedback on the current design of Safe Entry from prospective customers and industry leaders at events and placements.

Page 1 of 5

Technologically, Safe Entry has had a transformational year. Its accuracy levels, speed and connectivity, installation, troubleshooting, and user experience have improved tremendously. This was all possible through obtaining and testing key datasets from our hospital studies and other placements as well as constantly gaining partners and customer feedback to improve Safe Entry's overall user experience and effectiveness.

Along with the Company's peer-reviewed publications, Predictmedix's recently completed clinical studies with large hospital groups. This has successfully validated Safe Entry's vital screening technology of heart rate, respiratory rate, eye redness, and body temperature with exceptionally high accuracy rates. Another leap in the right direction as Safe Entry's Fit for Duty solutions to validate the technology and prove the efficacy of Safe Entry.

Additionally, Predictmedix has developed novel deep-learning techniques for identifying fatigue in individuals in workplace settings. The Company's recently published peer-reviewed journal highlights the efficacy of the technology, with an astonishing 91% accuracy that will continue to improve through Safe Entry's deep-learning models.

We strive to continuously add to our suite of technologies. In fact, we have recently begun deployments of Safe Entry in bars across India and have also engaged in a partnership with a University in Indonesia to collect even more data for Safe Entry's screening capabilities.

Commercialization Outlook for 2023

Safe Entry is being positioned at the forefront of workplace health and safety solutions. The global workplace safety market is projected to grow from an estimated $14.2 billion USD in 2022 to $26.7 billion USD by 2027 at a Compound Annual Growth Rate (CAGR) of 13.5 %^1^.

While we were focused on upgrading, evolving, and validating Safe Entry - our team and partners were vigorous in educating market leaders at several trade show events across multiple industries about Safe Entry's Fit for Duty solutions. The excitement Safe Entry has generated from audiences at events while demoing Safe Entry has led to a bright-looking sales pipeline with a lot of potential for scalability and meaningful revenue.

Page 2 of 5

Predictmedix's peer-reviewed publications are an important milestone as the validation of our technology allows us to continue to develop our Triage solution for hospitals, where incoming patients' vitals are non-invasively screened and simultaneously transmitted to healthcare providers so decisions can be made more efficiently.

Predictmedix will be hyper-focused on commercialization throughout 2023, securing high-revenue recurring placements for workplaces in industries such as mining, manufacturing, warehousing, construction, and other industries where employee health and safety remain of high priority.

"It's our commitment to scale Safe Entry in 2023 and with our network of partners and industry leaders, we believe we are on our way to meeting significant revenue and scalability goals. As always, we continue to strive to build shareholder value through our technology portfolio, medical journals, and validated technology - all of which will allow us to create a significant impact in the marketplace in 2023 and beyond. To this end, the company is currently engaged in discussions with a number of large enterprises for potential commercial deployments," concluded Dr. Rahul Kushwah.

The Company announces that it has granted incentive stock options to officers and consultants of the Company to purchase an aggregate of 10,000,000 common shares of the Company at an exercise price of $0.05 per common share expiring four years from the date of grant.

^1^https://www.marketsandmarkets.com/Market-Reports/workplace-safety-market- 247399116.html

About Predictmedix Inc.

Predictmedix (CSE: PMED) (OTCQB: PMEDF) is an emerging provider of rapid health screening and remote patient care solutions globally. The Company's Safe Entry Stations - powered by a proprietary artificial intelligence (AI) - use multispectral cameras to analyze physiological data patterns and predict a variety of health issues including infectious diseases such as COVID-19, impairment by drugs or alcohol, fatique or various mental illnesses. Predictmedix's proprietary remote patient care platform empowers medical professionals with a suite of AI-powered tools to improve patient health outcomes. To learn more, please visit our website at www.Predictmedix.com or follow us on Twitter, Instagram or LinkedIn.

Page 3 of 5

Investor Relations Contact

Corey Matthews

Investors@predictmedix.com

Caution Regarding Forward-Looking Information:

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any Page 4 of 4 future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to obtain intellectual property rights related to its technology; limited operating history; general business, economic, competitive, political, regulatory and social uncertainties, and in particular, uncertainties related to COVID-19; risks related to factors beyond the control of the Company, including risks related to COVID-19; risks related to the Company's shares, including price volatility due to events that may or may not be within such party's control; reliance on management; and the emergency of additional competitors in the industry.

All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except required by law.

Page 4 of 5

Disclaimer: "The Company is not making any express or implied claims that its product has the ability to diagnose, eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus) at this time."

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT

ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Page 5 of 5

Predictmedix Inc.: Exhibit 99.8 - Filed by newsfilecorp.com

Predictmedix Closes $612,500 Private Placement and Announces Listing on the Frankfurt Exchange

Toronto, Ontario, February 13, 2023 - Predictmedix Inc. ("Predictmedix" or the "Company") (CSE: PMED) (OTCQB: PMEDF), an emerging provider of rapid health screening solutions powered by a proprietary artificial intelligence (AI), today announces that it has closed a non-brokered private placement for total gross proceeds of $612,500. The Company has issued 12,250,000 units (the "Units") at a price of $0.05 per unit. Each Unit consists of one common share of the Company and one common share purchase warrant (a "Warrant"), whereby each Warrant entitles the holder to purchase one additional common share for a period of two years from closing at an exercise price of $0.10 per share. Net proceeds from the financing will be used for general operations (working capital) including business development and technology upgrades. All securities issued in connection with the financing are subject to a statutory hold period expiring four months and one day from the securities' issuance date.

The Company also announces that its common shares have been accepted for listing on the Frankfurt Stock Exchange and trades under the symbol "3QP".

"We are excited to trade on the Frankfurt Stock Exchange, offering our shareholders increased liquidity as well as enhancing our global visibility," commented Dr. Rahul Kushwah, Chief Operating Officer at Predictmedix. "The Frankfurt Stock Exchange is one of the world's largest trading centres for securities and the largest stock exchange in Germany and we look forward to introducing Predictmedix to European investors."

"Last year we set out to achieve notable milestones. We've validated Safe Entry's technology through clinical studies and peer-reviewed publications, integral to our commercialization efforts. In addition to testing and proving the efficacy of Safe Entry, we've made significant hardware and technology upgrades that have elevated our operations and logistics on many fronts."

"Commercially, we have a strong tailwind, and our partners and resellers are in discussion with several organizations to empower their workforces with Safe Entry to ensure safety and protection. Furthermore, we are continuously exploring avenues in healthcare where we can utilize our proprietary AI in triages to reduce the strain on hospitals around the world. While Predictmedix is focused on serving markets where employee screening is a dire need, we have been making additions to our technology portfolio for when we are ready to launch in the healthcare sector. AI in healthcare is projected to grow from 14.6 billion USD in 2023 to $102.7 billion by 2028 - a 47.6% CAGR.^1^We believe 2023 will be a pivotal year for Predictmedix and we are looking forward to sharing meaningful news in the near-term future," concluded Kushwah.

Predictmedix has engaged GOLDINVEST, a European publisher, for a 6-month contract to increase the company's awareness in the German-speaking financial community and through its extensive investor network throughout Europe.

1 https://www.reportlinker.com/p04897122/Artificial-Intelligence-in-Healthcare-Market-by-Offering-Technology-Application-End-User-Industry-and-Geography-Global-Forecast-to.html

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About Predictmedix Inc.

Predictmedix (CSE: PMED) (OTCQB: PMEDF) is an emerging provider of rapid health screening and remote patient care solutions globally. The Company's Safe Entry Stations - powered by a proprietary artificial intelligence (AI) - use multispectral cameras to analyze physiological data patterns and predict a variety of health issues including infectious diseases such as COVID-19, impairment by drugs or alcohol, fatique or various mental illnesses. Predictmedix's proprietary remote patient care platform empowers medical professionals with a suite of AI-powered tools to improve patient health outcomes. To learn more, please visit our website at www.Predictmedix.com or follow us on Twitter, Instagram or LinkedIn.

Investor Relations Contact

Corey Matthews ir@predictmedix.com 647-889-6916

Caution Regarding Forward-Looking Information:

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any Page 4 of 4 future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to obtain intellectual property rights related to its technology; limited operating history; general business, economic, competitive, political, regulatory and social uncertainties, and in particular, uncertainties related to COVID-19; risks related to factors beyond the control of the Company, including risks related to COVID-19; risks related to the Company's shares, including price volatility due to events that may or may not be within such party's control; reliance on management; and the emergency of additional competitors in the industry.

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All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except required by law.

Disclaimer: "The Company is not making any express or implied claims that its product has the ability to diagnose, eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus) at this time."

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Predictmedix Inc.: Exhibit 99.9 - Filed by newsfilecorp.com

Predictmedix Announces Third-Party Independent Clinical Validation for AI-Powered Screening following 400 Patient Study at MGM Healthcare

Toronto, Ontario, February 15, 2023 - Predictmedix Inc. ("Predictmedix" or the "Company") (CSE: PMED) (OTCQB: PMEDF) (FRA:3QP), an emerging provider of rapid health screening solutions powered by a proprietary artificial intelligence (AI), today announced pivotal clinical validation data from one of the largest Government hospital groups in India for the company's AI-powered Safe Entry Stations. The third-party clinical findings show that Predictmedix's Safe Entry Stations accurately screen for various physiological conditions non-invasively - a pivotal milestone for the company's proprietary technology portfolio and for the global healthcare industry.

"Our team is diligently working towards the goal of Safe Entry being in thousands of hospital triages across the world. We believe our technology will drastically improve patient care and reduce the strain on already over-extended healthcare workers, " commented Dr. Rahul Kushwah, Chief Operating Officer at Predictmedix. "We're thrilled with the successful clinical findings from MGM Healthcare and are aggressively moving forward with commercializing Safe Entry as an automated, non-invasive healthcare tool powered by artificial intelligence."

The scope of the study was to determine the effectiveness of Predictmedix's AI-powered screening technology. The Safe Entry Station is a walk-thru system where an individual stands in front of the unit for 2-3 seconds while the multi-spectral imaging cameras gather the necessary information to determine the physiological state of the individual. Parameters like temperature, heart rate and respiration rate are collected non-invasively and the AI/ML algorithms compute a result. Vitals hold key insight into an individual's state, whether they're dealing with health complications, influenza, fatigue or even impairment. Safe Entry does not capture or store personal identity information, ever.

"The team at MGM has found Safe Entry to be ideal for hospital settings to non-invasively screen patients for various conditions by checking vital signs. We found Safe Entry to be very accurate at reading vital signs such as temperature, heart rate and respiration rate. Our overall assessment of Safe Entry has been quite positive as it has been used in various settings during the peak of the Covid outbreak within our hospital. Safe Entry was deployed at MGM for over 18 months, making several upgrades to their AI algorithms and models and now reached a mature stage of commercialization," read the independent clinical report from MGM dated February 2023.

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MGM Healthcare is one of the largest groups of medical universities in India encompassing several hospitals across India. MGM's state-of-the-art hospitals and centres of care focus on rebuilding lives and providing outstanding healthcare to its patients. To learn more about MGM Healthcare, please visit https://mgmhealthcare.in/.

About Predictmedix Inc.

Predictmedix (CSE: PMED) (OTCQB: PMEDF) (FRA:3QP) is an emerging provider of rapid health screening and remote patient care solutions globally. The Company's Safe Entry Stations - powered by a proprietary artificial intelligence (AI) - use multispectral cameras to analyze physiological data patterns and predict a variety of health issues including infectious diseases such as COVID-19, impairment by drugs or alcohol, fatique or various mental illnesses. Predictmedix's proprietary remote patient care platform empowers medical professionals with a suite of AI-powered tools to improve patient health outcomes. To learn more, please visit our website at www.Predictmedix.com or follow us on Twitter, Instagram or LinkedIn.

Public Relations Contact

For further media information or to set up an interview, please contact: Nelson Hudes

Hudes Communications International

(905) 660 9155 Nelson@hudescommunications.com

Dr. Rahul Kushwah (647) 889 6916

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Caution Regarding Forward-Looking Information:

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any Page 4 of 4 future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to obtain intellectual property rights related to its technology; limited operating history; general business, economic, competitive, political, regulatory and social uncertainties, and in particular, uncertainties related to COVID-19; risks related to factors beyond the control of the Company, including risks related to COVID-19; risks related to the Company's shares, including price volatility due to events that may or may not be within such party's control; reliance on management; and the emergency of additional competitors in the industry.

All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except required by law.

Disclaimer: "The Company is not making any express or implied claims that its product has the ability to diagnose, eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus) at this time."

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.