Datametrex AI (TSXV: DM) this morning provided an update to the market related to its current COVID-19 testing operations within the film and television sector, revealing it is currently conducting approximately 6,000 COVID-19 tests a week. That figure is expected to rise early in the new year as well, with the company receiving orders for an additional 9 productions within Canada, scheduled to start in January.
Currently, Datametrex is currently providing testing services to six production companies in Toronto, along with eleven production companies in Vancouver, which in total results in approximately 6,000 tests being conducted each week. In January, three additional film and TV productions in Toronto and six additional productions in Vancouver will be added to the roster, bringing the total productions that the company services to twenty six.
As a result, the company has expanded its testing lab facilities in Vancouver, with the facility now capable of processing 10,000 COVID-19 tests each week. The company also has the ability to expand upon this capacity even further, if it is deemed as being required.
“With Vancouver and Toronto feature-length movies and episodic series productions filming quickly ramping up, we feel that this will only expand the COVID-19 screening business for the film and TV industries.”
Marshall Gunter, CEO of Datametrex AI
The film and TV industry in Canada is valued at roughly $8.92 in production volume, while employing 179,000 people. 37% of this is concentrated in the Vancouver region, which has 46 production studios for film, followed by the Ontario region which represents 34% of production volume in Canada.
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Datametrex AI last traded at $0.125 on the TSX Venture.
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