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Monday, October 25, 2021

Artificial Intelligence Technology Solutions Inc. (OTCMKTS: AITX) Gaining Fast on New RAD Orders

Artificial Intelligence Technology Solutions Inc. (OTCMKTS: AITX) has been on the move in recent days as the Company’s subsidiary Robotic Assistance Devices (RAD) makes a number of big moves including signing Protos Security as a dealer for the entire suite of RAD products. The Company also received an opening purchase agreement from Civitas PSG, one of the largest security companies in Romania for (2) RAD devices and received a previously anticipated order for a 5-unit RAD solution. This order was received via one of RAD’s significant North American dealers. A mix of SCOT, Wally and ROSA units will form a fully-integrated autonomous system, providing a secured distribution warehouse exclusively utilizing RAD solutions.

AITX management has been working hard behind the scenes recently restructuring the vast majority of its debt, which has saved the company a tremendous amount of dilution. The Compan’s subsidiarty RAD also  received a greatly anticipated order for a 5-unit RAD solution. This integrated autonomous remote security and access solution will be deployed to a Fortune 500 end-user client with over 10 distribution centers and over 7,500 retail locations in the U.S. and Puerto Rico.

Artificial Intelligence Technology Solutions Inc. (OTCMKTS: AITX) is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges and fuel new business ideas. Through its next-generation robotic product offerings, AITX’s RAD and RAD-M companies help organizations streamline operations, increase ROI and strengthen business. AITX is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges and fuel new business ideas. Through its next-generation robotic product offerings, AITX’s RAD and RAD-M companies help organizations streamline operations, increase ROI and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services, and allows experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staffs and gain higher levels of situational awareness, all at drastically reduced cost.

AITX subsidiary Robotic Assistance Devices, Inc. (RAD), is looking to redefine $25 billion (US) security and guarding services industry through its broad lineup of innovative, AI-driven Solutions-as-a-Service business model. RAD solutions are specifically designed to provide a cost savings to businesses of between 35%-80% when compared to the industry’s existing and costly manned security guarding and monitoring model. RAD delivers this tremendous costs savings via a suite of stationary and mobile robotic solutions that complement, and at times, directly replace the need for human personnel in environments better suited for machines. All RAD technologies, AI-based analytics and software platforms are developed in-house.

Management has been working hard behind the scenes restructuring the vast majority of its debt, which has saved the company a tremendous amount of dilution. Specifically, AITX has restructured over 85% of its convertible debentures into non-convertible notes and warrants. The company has restructured a total of $7,141,110 of convertible debt into $7,141,110 of non-convertible promissory notes with a 36-month maturity and 12% annual compounded interest and 780M warrants with a 36-month maturity and $0.002 exercise price.

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The Company has been busy; earlier this month AITX wholly-owned subsidiary Robotic Assistance Devices (RAD) signed Protos Security as a dealer for the entire suite of RAD products. Protos Security is a leader in nationwide security guard management, specializing in putting retail and commercial clients back in control of their security guard program by providing oversight to fulfill any assignment requested, reduce costs, increase incident reporting and ultimately deliver the peace of mind they expect.

Details of the agreement were not disclosed, but the company confirmed a RAD unit will be initially delivered to Protos as part of the dealer agreement, with additional orders anticipated immediately following. Reinharz added, “We are confident this relationship will yield amazing results for both Protos and RAD in 2021.” Protos Security is a leading provider of security personnel and is uniquely qualified to deliver security services throughout the United States, Canada, & Puerto Rico. With our own direct security division, supplemented by a network of over 4000 security providers, Protos ensures a seamless experience for a fast-growing list of clients.

RAD also received a previously anticipated order for a 5-unit RAD solution. This order was received via one of RAD’s significant North American dealers. A mix of SCOT, Wally and ROSA units will form a fully-integrated autonomous system, providing a secured distribution warehouse exclusively utilizing RAD solutions. This solution will save this client hundreds of thousands of dollars every year when compared to traditional solutions. Specifics of the purchase agreement were not disclosed, but Reinharz added “This opportunity is scheduled to deploy before the end of February 2021, and I believe is just the tip of the iceberg for what the RAD sales funnel can deliver in 2021.”

On January 13 AITX RAD received an opening purchase agreement from Civitas PSG, one of the largest security companies in Romania for (2) RAD devices. The companies disclosed that a RAD SCOT and ROSA unit would be the initial solutions deployed by Civitas. SCOT, short for Security Control Observation Tower, performs a wide variety of autonomous security, surveillance and concierge functions, providing a 360° field of view from its (4) cameras mounted nearly 7’ from the ground, along with a 22” interactive, web-enabled, touch-screen. RAD’s ROSA, Responsive Observation Security Agent, is commonly installed on a light pole or against a wall, providing autonomous responses activated by its (2) cameras and 180° field of view. It is anticipated that both units will be delivered to Civitas within the next 60–90 days.

“Supporting Civitas in and around Romania is the perfect entry for RAD into the EU,” said Steve Reinharz, President and CEO of RAD. “I’m very pleased to be starting our European expansion with such a strong partner.”

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AITX has been on the move in recent days as the Company’s subsidiary Robotic Assistance Devices (RAD) makes a number of big moves including signing Protos Security as a dealer for the entire suite of RAD products. The Company also received an opening purchase agreement from Civitas PSG, one of the largest security companies in Romania for (2) RAD devices and received a previously anticipated order for a 5-unit RAD solution. This order was received via one of RAD’s significant North American dealers. A mix of SCOT, Wally and ROSA units will form a fully-integrated autonomous system, providing a secured distribution warehouse exclusively utilizing RAD solutions. AITX management has been working hard behind the scenes recently restructuring the vast majority of its debt, which has saved the company a tremendous amount of dilution. The Compan’s subsidiarty RAD also  received a greatly anticipated order for a 5-unit RAD solution. This integrated autonomous remote security and access solution will be deployed to a Fortune 500 end-user client with over 10 distribution centers and over 7,500 retail locations in the U.S. and Puerto Rico. We will be updating on AITX when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with AITX.

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Disclosure: we hold no position in AITX either long or short and we have not been compensated for this article.

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