Light AI Responds to OTC Markets Request on Recent Promotional Activity
VANCOUVER, BC, /CNW/ - Light AI Inc. (" Light A I" or the " Company") (CBOE CA: ALGO) (FSE: 0HC) (OTCQB: OHCFF), a healthcare technology company focused on developing artificial intelligence health diagnostic and wellness solutions, announces that it has been requested by OTC Markets Group Inc. (" OTC Markets") to issue this statement about promotional activity concerning its common shares (the " Shares") traded on the OTCQB Venture Market (" OTCQB") (operated by OTC Markets).
On May 7, 2025, OTC Markets informed the Company that it became aware of certain promotional activities concerning the Company and its Shares traded on the OTCQB, including the distribution of one newsletter and one "stock alert" post (collectively, the " Promotional Materials") published by Emerging Markets Consulting, LLC (" Emerging Markets"), discussing the Company, its business, the economy, and the healthcare AI market generally.
On January 14, 2025, the Company entered into an advertising agreement with Emerging Markets, whereby Emerging Markets would provide investor relations and advertising services to the Company. The Company was therefore aware of Emerging Market's promotional activities respecting the Company since January 14, 2025. Accordingly, the Promotional Materials were paid for by the Company through its engagement of Emerging Markets.
The engagement of Emerging Markets, the nature of the relationship between the Company and Emerging Markets, as well as the compensation paid to Emerging Markets, was publicly disclosed in a news release on January 29, 2025, which can be found under the Company's profile on SEDAR+ (www.sedarplus.ca).
The Company provided Emerging Markets with publicly available sources of information for its marketing materials and management reviewed and approved the materials prepared by Emerging Markets prior to their dissemination, including to ensure factual accuracy. The Company does not believe the statements in the Promotional Materials were materially false or misleading. However, the Company notes that investing in the Company's securities involves certain risks and uncertainties which investors should review prior to making any investment decision. The Company encourages all investors to undertake proper due diligence and carefully consider all investment decisions. The Company directs potential investors to rely solely on its filings and disclosures made with the Canadian Securities Administrators, available at www.sedarplus.ca.
After inquiry of management, other than as disclosed herein, no directors and control persons, its officers, directors or controlling shareholders, or any third-party service providers have, directly or indirectly, been involved with the creation, distribution, or payment of promotional materials related to the Company and its securities.
The Company does not believe the promotional activities had any substantial impact on the trading price or volume of the Shares.
Except as disclosed below, after inquiry of management, its officers, directors, any controlling shareholders, or any third-party service providers, the Company is not aware of any purchases or sales of the Shares in the past 90 days:
An arm's length financial advisory consultant sold 569,000 Shares and purchased 569,500 Shares since February 8, 2025.
An entity controlled by Gold Standard Media LLC sold 267,000 Shares.
The Company has engaged the following third-party service providers to provide investor relations services, public relations services, marketing, or other related service within the last twelve months: Gold Standard Media, LLC (January 14, 2025), New Era Publishing Inc. (January 14, 2025), Freedom Financial Resources, LLC (January 24, 2025), Senergy Communications Capital Inc. (January 14, 2025), Outside The Box Capital Inc. (January 14, 2025), Capital Gains Media Inc. (January 14, 2025), Entourage Group Inc. (January 14, 2025), Direct To Investor Media, LLC (January 14, 2025), Emerging Markets Consulting, LLC (January 14, 2025), MIC Market Information & Content Publishing GmbH (January 29, 2025), Bergskogar Limited DBA Scandinavian Alliance (January 14, 2025), Green Stock News LLC (January 24, 2025), ZNEK Holdings Ltd. (January 24, 2025), BW Venture Strategies Inc. (January 27, 2025), Independent Trading Group Inc. (January 24, 2025) and Commodity Partners Inc. (February 14, 2025).
Other than pursuant to financings and acquisition transactions in accordance with CBOE Canada Policies, which the Company has publicly disclosed in news releases (available at: www.sedarplus.ca), including the public offering of Shares completed on January 8, 2025, the Company has not issued Shares, or convertible instruments allowing conversion to equity securities, at prices constituting, at the time of issuance of such shares or convertible instruments, at a discount to the then current market price.
About Light AI Inc. (CBOE CA: ALGO / FSE: 0HC / OTCQB: OHCFF)
Light AI Inc. is a technology company focused on developing artificial intelligence health diagnostic solutions. Light AI is developing a technology platform which represents the next generation of patient management: it applies AI algorithms to smartphone images—starting with images of Strep A—to identify the disease in seconds. Its patented, app-based solution requires no swabs, lab tests or proprietary hardware of any kind—its hardware platform is the 4.5 billion smartphones that exist in the world today. Light AI is at the forefront of developing innovative diagnostic solutions aimed at improving healthcare delivery worldwide. Their cutting-edge AI powered technology offers rapid, accurate, and cost-effective diagnostic tools designed to address critical healthcare challenges.
In pre-FDA validation studies, Light AI's algorithm demonstrated remarkable accuracy in differentiating between viral and bacterial pharyngitis, specifically targeting Group A Streptococcus (GAS). The algorithm achieved a 96.57% accuracy rate and attained a Negative Predictive Value of 100%, indicating its high reliability in confirming the absence of Streptococcus A infection. Viral and GAS pharyngitis affects over 600 million people annually worldwide. If left untreated, GAS pharyngitis can lead to serious complications such as Rheumatic Heart Disease (RHD), which imposes a global economic burden exceeding $1 trillion annually. Light AI's technology offers a significant advancement in the accurate and timely diagnosis of GAS pharyngitis, potentially reducing the incidence of RHD and its associated costs. Light AI's approach to applying AI to smartphone images can be expanded to other throat conditions, as well as other areas of analysis, such as the human eye and skin. Light AI's vision is to combine the smartphone with AI in-the- Cloud to create a Digital Clinical Lab that provides quick and accessible diagnosis for countless conditions that today require expensive and time-consuming imaging or lab processes.
ON BEHALF OF THE COMPANY
"George Reznik"
George Reznik
Chief Financial Officer
604-307-6800
[email protected]
For more information, please contact the Company at [email protected] or visit https://light.ai/.
Forward-Looking Information:
This news release includes information, statements, beliefs and opinions which are forward-looking, and which reflect current estimates, expectations and projections about future events, including, but not limited to, the Company's research and development and commercialization initiatives, the anticipated inflection of the business, the opportunity related to the commercialization of the Company's software, and other statements that contain words such as "believe," "expect," "project," "should," "seek," "anticipate," "will," "intend," "positioned," "risk," "plan," "may," "estimate" or, in each case, their negative and words of similar meaning. By its nature, forward-looking information involves a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking information. These risks, uncertainties and assumptions could adversely affect the outcome of the plans and events described herein. Readers should not place undue reliance on forward-looking information, which is based on the information available as of the date of this news release. For a list of the factors that may affect any of the Company's forward-looking statements, please refer to the Company's annual information form dated April 14, 2025 and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under its SEDAR+ profile at www.sedarplus.ca). Light AI disclaims any intention or obligation to update or revise any forward-looking information contained in this new release, whether as a result of new information, future events or otherwise, unless required by applicable law. The forward-looking information included in this news release is expressly qualified in its entirety by this cautionary statement.
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