Medxtractor Corp. (“MedX” or the “Corporation”) (CSE: MXT, OTC:MXTTF) announces its human-machine hybrid digital “mind”

Calgary, Alberta – TheNewswire -August 10, 2021 – (CNSX:MXT.CN) (OTC:MSTTE) “Computers are fast, accurate and stupid. Humans are slow, inaccurate and brilliant. Together they are powerful beyond imagination” – Albert Einstein

The Corporation reports that it’s contracted medical professionals (see bios below) have begun generating a series of Digital Opinions (“DOs”) based on their professional experience and education. Creating these DOs involves extensive manual scoring of more than 30,000 variables. When the machine-learning algorithms are trained using the DOs and applied to the Corporation’s Reference Database, the overall system is expected to function as a highly-educated, highly-experienced, health-focused human-machine hybrid “mind” that is deeper, faster, and more consistent than any human mind could be. These are the professionals:

Dr. Carol Malec, Ph.D, MSc, BScN – Certified Counsellor with Canadian Counselling and Psychotherapy Association (“CCPA”).Dr. Malec has 22 years of counselling experience in private practice, working with individuals to optimize their mental health and their life circumstances. She holds a Ph.D., and M.Sc. from the University of Calgary, and a BSc.N from the University of Saskatchewan and is a guest lecturer at the University of Calgary.

Dr. Keith Courtney D.O. is a Clinical Assistant Professor in the Department of Psychiatry at the UofC Cumming School of Medicine. Dr. Courtney is a double board-certified psychiatrist. He has been on the faculties of the University of Vermont, Dartmouth Medical School, the University of Nevada and currently an Assistant Clinical Professor at the University of Calgary. Dr. Courtney has also been a consultant to other provinces and countries regarding international health care, including Newfoundland & Labrador, New Brunswick, South Africa, Mongolia and other locations. Dr. Courtney also maintains a private practice focusing on psychotherapy, psychopharmacology, and consultation with individuals in the performing arts, including musicians, dancers, writers and other artists.

Dr. Keltie Duggin M.D. is a clinical lecturer at the University of Calgary Cumming School of Medicine. Her current practice is in neurorehabilitation hospitalist work, and she is also the hospitalist physician leader for two neurorehabilitation units in Calgary at the Foothills Medical Center and the Vernon Fanning Center.She has also conducted research and published articles in journals such as the Canadian Journal of Hospital Pharmacy.Keltie is a former 1988 swim Olympian and is passionate about helping people optimize their mental and physical health for all stages of life.

EEG Interpretation guidance:

Dr. Andrea Protzner holds a PhD in Neuroscience and an MA in Perception and Phycophysics. She is an Associate Professor at the University of Calgary and a Full Member of the Hotchkiss Brain Institute.  Dr. Protzner is also the head of the Brain Dynamics Lab, where her research goal is to build a framework that links cognitive integrity and neural dynamics to provide a coherent understanding of how cognition emerges from operations in the intact and impaired brain. Dr. Protzner has provided the Corporation with a report addressing EEG responses indicative of Major Depressive Disorder.

The Reference Database currently contains more than 800 reference records (all with associated EEG data) and is now expected to reach critical mass prior to October 31, 2021.  The DOs creation process targets completion within this time frame.

James Durward, President states “We are fully-funded to accomplish the goals of building our proprietary Reference Database, generating the training datasets, refining the machine-learning algorithms and building the User Interface for the system. I continue to believe that the system is on track for release before year-end, 2021. Our continued tight cash management gives me confidence that our cash balance at that time will be approximately $1.5 million. We have no debt and we continue to receive cash flow from our legacy operations.”

ABOUT MEDXTRACTOR CORP:

The Corporation is a Calgary-based company that generates technologically-based solutions. The B2B division, amongst other things, targets the application of machine learning to potential benefits associated with the use of psychedelic drugs within the mental health sector and the YMI division is developing a data-driven consumer mHealth application. With installations all over the world, its legacy craft-scale bio-extractors are used to extract compounds from a variety of botanical materials. Readers are advised that both the B2B division and the YMI mHealth division require further development and accordingly the Corporation is not currently making any express or implied claims that the applications can, or will be able to, generate accurate results, cash flows or profits.

FOR FURTHER INFORMATION, PLEASE CONTACT:

MEDXTRACTOR CORP.

James M. Durward, President and CEO

Telephone: (403) 689-3901

Email:   [email protected]

Website:www.medxtractor.com

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act andapplicable state securities laws or an exemption from such registration is available. The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Corporation believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

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About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.