WarpSpeed Taxi Inc. (WRPT) Announces Agreement to Collaborate with NextFind AI in using Artificial Intelligence to Enhance Global Mineral Exploration and Name Change to NextFind.AI

Rhea-AI Summary

WarpSpeed Taxi (WRPT) announced a joint venture with NextFind AI, focusing on AI and machine learning technologies for global mineral exploration and medical patient care. The collaboration aims to create a comprehensive database for exploration targets using advanced anomaly detection algorithms, leveraging satellite imagery, historical archives, and exploration data. This innovative approach is expected to significantly reduce exploration time and costs. WRPT will issue 15 million shares, valued at $7.5 million, to NextFind AI's principals as part of the agreement, pending a due diligence review and definitive agreement execution. Additionally, WRPT will rebrand as NextFind.AI.

Positive

• Joint venture with NextFind AI to enhance global mineral exploration using AI.
• Innovative anomaly detection algorithms to reduce exploration time and costs.
• Issuance of 15 million WRPT shares valued at $7.5 million, indicating significant investment.

Negative

• Potential dilution of shares due to the issuance of 15 million new shares.

LAS VEGAS and HYDERABAD, India, June 26, 2024 /PRNewswire/ -- WarpSpeed Taxi, Inc. (OTC: WRPT) (the "Company") is pleased to announce that it has entered into an agreement with NextFind.AI https://www.nextfind.ai to establish a joint venture that will focus on the marketing and development of various Artificial Intelligence and machine learning technologies. To date, NextFind AI has focused on AI projects relating to the identification of economic mineralization on exploration properties and applications to aid with medical patient care.   

WRPT is excited to collaborate with NextFind AI to create a world-class database of exploration targets worldwide. Led by professional geoscientists and AI specialists, NextFind AI aims to be an innovator in the field of Artificial Intelligence with a powerful new platform. This platform provides an autonomous data quality and anomaly detection tool aimed at locating world-class deposits of important precious and critical minerals. It implements a more rapid, efficient, and cost-effective exploration methodology than conventional techniques, drastically reducing routine analysis and data collection by geologists and scientists. This saves vast amounts of time and money on discovery and development projects. Leveraging satellite imagery, historical archives, and exploration data, NextFind AI's state-of-the-art anomaly detection algorithms identify potential mining sites with high precision. In a world of ever-increasing mineral demand, NextFind AI enhances the efficiency and accuracy of mineral exploration, revolutionizing the mining industry by providing actionable insights that reduce exploration time and costs while maximizing the potential for significant discoveries.

Pursuant to its agreement with NextFind.AI, WRPT will focus on research and development, marketing, sales, and operational activities relating to NextFind.AI's businesses. WRPT will issue 15,000,000 shares of its common stock at a deemed price of $0.50 each (for total consideration of US$7,500,000) to the principals of NextFind.AI in consideration for it contributing its technologies to the joint venture. The agreement provides that the parties will complete a due diligence review of their respective businesses, following which, they will negotiate and execute a definitive agreement.

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Forward-Looking Statements

This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. The forward-looking information includes the possibility that the company is unable to execute a definitive agreement with NextFind.AI, that NextFind.AI's technology will not perform as anticipated and will not result in the joint venture generating any revenue, and that other competitors will be more successful in developing competing technologies that adversely impact NextFind.AI's success. Such forward-looking statements involves risks, uncertainties and other factors, which may cause the actual results, performance or achievements of WarpSpeed Taxi Inc. to be materially different from the statements made herein. Except for any obligation under the U.S. federal securities laws, WarpSpeed Taxi Inc. undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.

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SOURCE NextFind.AI

FAQ

What is WRPT's new joint venture about?

WRPT's joint venture with NextFind AI focuses on AI and machine learning technologies for global mineral exploration and medical patient care.

How many shares will WRPT issue to NextFind AI's principals?

WRPT will issue 15 million shares to NextFind AI's principals, valued at $7.5 million.

What is the purpose of the joint venture between WRPT and NextFind AI?

The joint venture aims to create a comprehensive database for exploration targets using advanced AI-based anomaly detection algorithms, reducing exploration time and costs.

What kind of technologies will the WRPT and NextFind AI collaboration focus on?

The collaboration will focus on AI and machine learning technologies, specifically for identifying economic mineralization and aiding in medical patient care.

When was the WRPT and NextFind AI joint venture announced?

The joint venture was announced on June 26, 2024.

What will WRPT rebrand to after the joint venture with NextFind AI?

WRPT will rebrand to NextFind.AI.

How will the WRPT and NextFind AI joint venture impact mineral exploration?

The joint venture is expected to enhance the efficiency and accuracy of mineral exploration, reducing time and costs while increasing the potential for significant discoveries.