Artificial Intelligence Technology Solutions Announces Details of Strategic Relationship with Ghost Robotics Corporation

August 19, 2021

HENDERSON, Nev–(BUSINESS WIRE)–$AITX–Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), which provides AI-driven security and productivity solutions for enterprise clients, is pleased to announce that it has signed an agreement with Ghost Robotics Corporation (“Ghost”), outlining the details of the strategic relationship between the two companies for mutual growth and collaboration.

“Ghost Robotics’ advanced technology has positioned them as the market leader in the Quadrupedal Unmanned Ground Vehicle (Q-UGV^®) space. Ghost’s CEO, Jiren Parikh and I have been working towards this moment for the past few years, and we’re thrilled to ink this agreement,” said Steve Reinharz, CEO of AITX.

”We are delighted to enter into this agreement and look forward to co-developing a range of new products with the Robotic Assistance Devices companies,” said Jiren Parikh, CEO and founder of Ghost Robotics. “RAD has been a market maker in the security services industry with their stationary and mobile products. Integrating our QUGVs into their offering will certainly open doors and bring new opportunities for both companies,” Parikh concluded.

AITX expects that its first comprehensive consolidated PCB component, named ‘RADPak Mini’, and produced by the RAD-G subsidiary, will power and control the RAD functions on the Q-UGV^®. The development work will be performed by RAD’s mobility subsidiary RAD-M. “This is the first non-RAD developed product that will incorporate our technology into and is a great leap for RAD-G’s technology,” Reinharz continued.

“In the coming months, our ROAMEO product will have a sidekick or two,” Reinharz added. “While ROAMEO stands nearly seven feet tall and provides a variety of security and facility focused services, the Q-UGV^® will provide different services that we will announce as the product gets closer to full commercialization.”

The agreement contains an agreement of confidentiality that governs the sharing of information and protects trade secrets of each organization. Reinharz did add that RAD anticipates product announcements from this relationship in the next 6 to 12 months.

CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are “forward-looking statements” that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of Artificial Intelligence Technology Solutions to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, to meet business and financial goals including projections and forecasts, and other risks. Artificial Intelligence Technology Solutions undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in Artificial Intelligence Technology Solutions expectations.

About Ghost Robotics:

Founded in 2015, Philadelphia-based Ghost Robotics develops Quadrupedal Unmanned Ground Vehicles, or Q-UGV® for short. Ghost’s Q-UGVs not only manage unstructured terrain well but are built for demanding customers in demanding environments. Their robots have a place in a broad range of government and enterprise applications where mobile robots with four legs have inherent advantages over wheels, tracks and even bipedal systems. To learn more about Ghost Robotics, visit www.ghostrobotics.io

About Artificial Intelligence Technology Solutions (AITX):

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, RAD-M and RAD-G 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 solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education and healthcare. To learn more, visit www.aitx.ai and www.roboticassistancedevices.com, or follow Steve Reinharz on Twitter @SteveReinharz.