Deepspatial Announces Government Agricultural Contract Via New Partner CRISP

Rhea-AI Summary

Deepspatial (CSE:DSAI) (OTCQB:DSAIF) announced a $1 million CDN contract with the Government of India through its new partner, CRISP. The contract involves using Deepspatial's Geo-AI Platform for various technological tasks in agriculture. This partnership aims to enhance decision-making capabilities and drive revenue growth. CEO Dr. Rahul Kushwah expressed optimism on the strategic implications of this collaboration, while CRISP's COO Basant Kumar Sutar highlighted the benefits for future projects.

Positive

• Secured a $1 million CDN contract with the Government of India through new partner CRISP.
• Partnership enhances Deepspatial's presence in strategic industries.
• Potential for increased revenue through collaborative projects.

Negative

• None.

Value of contract estimated at $1 Million CDN to be shared with the Partner

TORONTO, ON / ACCESSWIRE / July 20, 2022 / Deepspatial (CSE:DSAI) (OTCQB:DSAIF) ("Deepspatial" or the "Company"), an outcome-based artificial intelligence company, enabling organizations to enhance their decision-making capabilities by leveraging the power of data and AI, today announced that its new partner, CRISP, was awarded an Agricultural contract with a State Government in India in which Deepspatial will provide it's Geo-AI Platform to facilitate the numerous technological aspects of the project.

CRISP (Centre for Research and Industrial Staff Performance), Deepspatial's newest addition to its Partner Program, is an Indo-German Organization with National and International operations dedicated to human resource development and organizational development. CRISP serves Government, academic institutions, developmental organizations, and many other industries. CRISP is known for its excellent infrastructure and sophisticated laboratories in the field of industrial automation, mechatronics, production technology, information and communication technology, multimedia technology, and more.

"Since launching Deepspatial's Partner Program, we have partnered with Companies and Organizations that are allowing us to step our foot in the door in several key and strategic industries - and CRISP is just another example with the recent Government contract that we will have the exciting opportunity of working together on," commented Dr. Rahul Kushwah, Chief Executive Officer at Deepspatial.

"We are delighted to have Deepspatial as our technology partner for ongoing and future projects. We feel this partnership will bring mutual success as we execute projects swiftly, fulfill and exceed client's expectations, and generate revenue. Deepspatial's expertise and technical abilities will not only create positive influence in Society, but will also be a game-changer for our future projects," said Basant Kumar Sutar, Chief Operational Officer and Head of Technology at CRISP.

About Deepspatial Inc.

Deepspatial is an outcome based artificial intelligence company, enabling organizations to enhance their decision-making capabilities by leveraging the power of data and AI. From finding the most efficient supply chain routes to knowing where to develop next, Deepspatial's AI-driven platform enables its clients to visualize what's going on, predict what's coming, analyze data, and optimize processes to make smarter decisions for a better future. For more information, visit www.Deepspatial.ai and follow us on Twitter, Instagram or LinkedIn.

Caution regarding Forward Looking Information:

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

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 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.

Contacts

For more information, please contact:

Investor Relations
Corey Matthews
Investors@deepspatial.ai

Chief Executive Officer
Dr. Rahul Kushwah
Rahul@deepspatial.ai

SOURCE: DeepSpatial Inc.

View source version on accesswire.com:
https://www.accesswire.com/709141/Deepspatial-Announces-Government-Agricultural-Contract-Via-New-Partner-CRISP

FAQ

What is the value of the contract announced by Deepspatial on July 20, 2022?

The contract is valued at $1 million CDN.

Who is the new partner of Deepspatial in the Government agricultural contract?

The new partner is CRISP (Centre for Research and Industrial Staff Performance).

What will Deepspatial provide under the new contract with CRISP?

Deepspatial will provide its Geo-AI Platform to facilitate technological aspects of the project.

How does the contract impact Deepspatial's business strategy?

The contract enhances Deepspatial's strategic presence and potential revenue growth in key industries.

What does CRISP specialize in for the Government agricultural contract?

CRISP specializes in human resource development and organizational development for various industries.