Rocket Doctor AI Reports Strong Operational Momentum in Q2 2026 Driven by U.S. Expansion and Growing Patient Reach

• Quarterly revenue for Q2 2026 was $734,028, representing a 43% year-over-year growth.
  
  
•  Loss per share for Q2, 2026: ($0.07) per share.
  
  
•  Announced further signed in-network contracts and credentialing with major U.S. insurance companies, extending total U.S. in-network reach to over 24 million covered lives.
  
  
•  Nearly threefold increase in completed U.S. patient visits in Q2 2026 compared to Q1 2026.

Vancouver, BC, Sept. 01, 2026 (GLOBE NEWSWIRE) -- Rocket Doctor AI Inc. (CSE: AIDR, OTC: AIRDF, Frankfurt: 939) (“Rocket Doctor AI” or the “Company”), a physician-built, AI-powered healthcare technology company focused on empowering doctors and expanding access to high-quality care, is pleased to announce that it has filed its interim financial statements for the second quarter ended June 30, 2026. The Company’s interim financial statements and Management’s Discussion and Analysis (“MD&A”) are available under its profile on SEDAR+ at www.sedarplus.ca.

Dr. Essam Hamza, Chief Executive Officer of Rocket Doctor AI Inc., stated: “I am delighted to confirm the Company reported an organic 43% year-over-year increase in revenue for Q2 2026. This growth is supported by key 'in-network' payer agreements in the U.S., which have expanded our coverage to approximately 24 million covered lives across California, Maryland, and New York State.

The Company’s infrastructure growth contributed to a 196% increase in completed U.S. patient visits in Q2 2026, rising to 3,911 from 1,319 in Q1 2026. This volume was achieved while expanding our active clinician network from 19 to 30, with several providers only onboarding mid-quarter following credentialing. With 80 total providers currently on our roster, the majority of whom are advancing through credentialing, the Company is well positioned to expand clinical capacity and support continued growth in patient volume across the U.S.

At the same time, Canada continues to be a core market, with a 23% year-over-year increase in completed patient visits in Q2 2026, rising to 45,766 from 37,176 in Q2 2025.

The Company is continually evolving its technology suite, increasingly leveraging AI as a key component of our development practices. This commitment to AI-driven innovation remains central to the ongoing platform advancements.

Furthermore, we are also excited the Company commenced a strategic marketing partnership with Rick Ware Racing on June 5th, which provides national media exposure and helps accelerate brand awareness and patient acquisition across key U.S. markets."

Second Quarter 2026 Financial Highlights:

• Revenue for Q2 2026 reached $734,028, remaining broadly consistent with $737,103 in Q1 2026 despite Q2 typically seeing slower patient visit volumes compared to Q1. On a year-over-year basis, Q2 2026 revenue demonstrated strong momentum, expanding 43% compared to $512,756 in Q2 2025. Patient support fee revenue increased by 5% compared with Q1 2026, supported by sustained platform utilization in Canada. This growth was offset by slightly lower service revenue associated with the Company’s partnership with Rush River Research, which is expected to be recovered in Q3 and Q4.
  
  
• U.S. patient visit volumes increased nearly threefold in Q2 2026 compared with Q1 2026, demonstrating strong momentum in the Company’s U.S. expansion. As the Company currently recognizes certain U.S. revenues on a cash basis, there is a timing lag between the significant increase in patient visits and the corresponding recognition of revenue. As a result, the full positive financial impact of the higher U.S. patient volumes was not reflected in Q2 2026 revenue and is expected to be recognized in future quarters.  The continued year-over-year revenue growth reflects the successful integration of Rocket Doctor Inc., acquired in April 2025, and the Company’s ongoing ability to scale its digital healthcare platform.
  
  
• Gross margin for Q2 2026 was 65%, compared to 75% in Q1 2026 and 89% in Q2 2025. The decrease reflects a shift in revenue mix as the Company continues to scale its digital healthcare platform, particularly in the U.S.  As the Company consolidates the financial results of the U.S. Practice Group, direct costs include amounts paid to physicians for patient visits, net of applicable platform fees. While these costs do not impact the Company’s gross profit, as they were accompanied by a corresponding amount of revenue, the gross margin percentage is expected to decrease as the Company continues to scale its operations and patient volumes in the United States.
  
  
• Net loss in Q2 2026 was $6.67 million or $0.07 per share, compared to a net loss of $4.64 million or $0.05 per share in Q1 2026 and a net loss of $2.69 million or $0.04 per share in Q2 2025.
  
  
• Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”) in Q2 2026 was a loss of $4.12 million compared to a loss of $2.98 million in Q1 2026, and a loss of $1.73 million in Q2 2025. Adjusted EBITDA is used by management to evaluate the Company’s cash operating performance, and a complete definition and calculation are provided further below.
  
  
• Cash and cash equivalents were $0.95 million as at June 30, 2026, compared to $0.64 million as at December 31, 2025.

   
Second Quarter Corporate Highlights:

• On April 8, 2026, the Company announced its expansion into Maryland, launching patient care operations following the establishment of in-network Medicaid and Medicare coverage in the state. The Company also appointed Dr. Suzanne Caccamese as Maryland Medical Lead to support regional growth initiatives.
  
  
• On April 14, 2026, the Company announced a major expansion of its Maryland footprint through its first in-network agreement with the state entity of a major national insurer, adding approximately 2 million covered lives.
  
  
• On April 21, 2026, the Company further expanded its Maryland coverage through an additional in-network agreement, adding approximately 250,000 members and bringing total covered lives in the state to approximately 3.2 million.
  
  
• On May 4, 2026, the Company reported strong fiscal 2025 results, highlighting continued momentum in its physician-led virtual care model, expanding U.S. payer partnerships, and ongoing AI platform innovation.
  
  
• On May 12, 2026, Rocket Doctor announced the launch of a Digital Health Observership Program in partnership with the University of Toronto for Physician Assistant students, reinforcing the Company’s commitment to clinical education, digital health innovation, and workforce development.
  
• On June 2, 2026, the Company announced its Q1 results, growing revenue to $737,000, expanding U.S. in-network reach to over 21 million members, and increasing completed U.S. patient visits by 283% quarter over quarter.
  
  
• On June 8, 2026, the Company launched a strategic marketing partnership with Rick Ware Racing and FINTEKK AP for the 2026 NASCAR Cup Series, the National Hot Rod Association, the World Supercross Championship, American Flat Track, and other nationally televised motorsport events.
  
  
• On June 16, 2026, the Company announced that its U.S. subsidiary, Treatment.com, secured US$250,000 in Year 2 NIH funding, bringing total support to more than US$500,000 to advance its AI-powered, culturally responsive family health history platform.
  
  
• On June 23, 2026, the Company announced a new partnership with Mindstride AI to provide after-hours and overflow physician coverage across Ontario, Alberta, and British Columbia, expanding access to care through Rocket Doctor’s network of more than 350 licensed physicians.
  
  
• On June 30, 2026, the Company announced its first U.S. value-based primary care agreement, expanding in-network coverage to more than 5 million members across nine payers and 65 health insurance products.
  

Business Highlights Subsequent to June 30, 2026:

• On July 7, 2026, the Company announced the appointment of Andrew Lau, CPA, CA, as Chief Financial Officer to support its U.S. expansion and growth.
  
  
• On July 14, 2026, the Company announced its achievement of SOC 2 Type 1 compliance, independently validating its security, privacy, and operational controls and strengthening its enterprise readiness as it expands across North America.
  
  
• On July 23, 2026, the Company announced that it had been named one of Canada’s Top 100 AI & Tech Startups for ALL IN 2026, recognizing its leadership in AI-powered, physician-led healthcare solutions across North America.
  
  
• On July 30, 2026, the Company announced an extension to its EngageWell partnership, expanding virtual urgent care, preventive health services, and primary care navigation for underserved adults in New York City.
  
  
• On August 5, 2026, the Company announced it had joined B2i Digital’s Featured Company Program, gaining exposure to a network of more than 1.7 million retail and institutional market participants.
  
  
• On August 6, 2026, the Company announced the closure of an oversubscribed first tranche of its unsecured convertible debenture financing, raising approximately CAD$2.27 million in gross proceeds.
  
  
• On August 11, 2026, the Company announced the expansion of in-network access to more than 100,000 additional eligible members in New York, further advancing its U.S. reimbursed care strategy.
  
  
  
• On August 17, 2026, the Company announced the closure of the second tranche of its oversubscribed convertible debenture financing, bringing total gross proceeds raised to approximately CAD$3.26 million.
  
  
• On August 18, 2026, the Company announced it had entered a strategic network agreement in California, expanding access across commercial, Medicare Advantage, workers’ compensation, and auto medical channels serving approximately 60 million consumers.

Company Outlook


Q2 2026 Financial and Operational Overview: Rocket Doctor AI delivered sustained quarter-on-quarter financial performance in Q2 2026 relative to Q1 2026, building directly upon the operational milestones established in the Company’s fiscal year 2025 financial results.

The primary catalyst for accelerated growth throughout 2026 is the expansion of the Company’s "in-network" U.S. patient footprint, which now spans approximately 24 million covered lives across California, New York, and Maryland. As these newly finalized payer agreements are still in the early stages of implementation, the Company views them as the vehicle to further scale patient access, with potential for continued growth in visit volumes throughout the remainder of the fiscal year.

Exponential Volume Scalability and Network Effects: The Company has continued to scale its clinical network in the U.S. In Q2 2026, the Company demonstrated strong operational momentum, delivering 3,911 completed patient visits in the U.S., a nearly threefold increase compared to 1,319 completed visits in Q1. This growth was achieved while expanding the active provider network from 19 to 30 clinicians during the period, several of whom were only onboarded mid-quarter following credentialing completion.

With 80 total providers currently in the roster, the majority of whom are actively advancing through the credentialing process, the Company is well-positioned to progressively scale clinical capacity, broaden patient access, and support continued visit volume growth as additional providers become in-network.

Management continues to actively evaluate innovative, proprietary pathways to fast-track provider credentialing to optimize onboarding velocity and satisfy network capacity requirements.

Geographic Expansion and Technology Monetization: The Company remains committed to aggressively expanding its payer partnership portfolio by securing new commercial accounts and deepening penetration within existing relationships. While maintaining a highly profitable operational baseline in its three core states, the Company has initiated a multi-state expansion strategy to systematically broaden its U.S. clinical footprint throughout 2026.

Concurrently, the Company is also advancing B2B opportunities, including the white labeling of its digital health infrastructure. This strategy is designed to create a scalable, recurring revenue pathway for U.S. healthcare delivery organizations to seamlessly deploy physician-led virtual care under their own established corporate brands.

AI Workflow Optimization and Clinical Innovations: Operationally, management is focused on the deep integration of proprietary AI and automation modules across its core software platforms. These technical enhancements are designed to assist in optimizing complex clinical workflows and reducing administrative overhead, consistent with the Company's long-term operational goals.

Through 2026, the Company continues to advance its formal partnership with Rush River Research under a US$2 million National Institutes of Health (NIH) grant. Utilizing Rocket Doctor’s proprietary AI engines, this high-impact initiative focuses on developing culturally sensitive diagnostic tools to transform family medical history and bridges critical clinical data gaps. This federally funded program serves as a strong validation of the history collection and sophisticated capabilities inherent in the Company's clinical reasoning technology.  In June 2026, the Company received confirmation of second-year NIH funding following the successful completion of the program’s first-year milestones, further validating the strength of the collaboration and the progress achieved to date.

Diversified B2B and Public Sector Ecosystems: Rocket Doctor is actively deploying its platform across a diversified ecosystem of high-value enterprise, municipal, and non-profit relationships. Current high-impact deployments include municipal health initiatives with Bruderheim and Lethbridge County, virtual emergency department (ED) diversion programs with Georgian Bay, and specialized oncology triage pathways with Melanoma Canada and the Central California Alliance for Health. The Company is actively pursuing further business-to-business (B2B) SaaS opportunities to expand this enterprise pipeline through the remainder of 2026.

Financial Outlook

Foundational Strength and Strategic Validation: Management believes the Company concludes Q2 2026 with a highly robust operational foundation. This position is primarily driven by the deliberate strategic pivot toward a high-margin enterprise model, successful integration of Rocket Doctor Inc., finalization of foundational "in-network" commercial payer contracts in the United States, and the continuous technological advancement of the Company’s proprietary Global Library of Medicine (GLM). The GLM remains a key platform helping to drive the Company’s growth, unlocking verticals across medical education, pharmacy integration, and decentralized digital health ecosystems.

U.S. Market Penetration and Covered Lives Breakdown: The Company is actively capitalizing on its compounding momentum in the U.S. market, a direct result of disciplined, multi-year infrastructure investments. This commercial execution is highlighted by the following:

• California: Now serving approximately 10.3 million in-network members.
• New York: Fully credentialed as an in-network provider, granting approximately 10.0 million beneficiaries’ direct access to Rocket Doctor’s virtual healthcare services.
• Maryland: Providing in-network access to approximately 3.2 million residents covered under state Medicaid and Medicare programs, materially improving care affordability and continuity.

Cumulatively, this baseline provides the Company with the potential to reach up to approximately 24 million insured lives. This footprint serves as an early, quantifiable validation of the Company’s scalable virtual care infrastructure and highlights the capacity to capture market share across underserved Medicaid, Medicare, Commercial, and Veterans Affairs (VA) communities.

Revenue Runways and Pipeline Velocity: While these deployments began contributing incremental revenue in the first half of 2026, the vast majority of the associated financial run-rate remains unrecognized in current financials. The Company is continuing to develop its pipeline of 'in-network' U.S. payer contracts, alongside targeted marketing and patient-acquisition efforts, as it works toward its goal of strengthening financial metrics throughout the remainder of fiscal year 2026.

Capital Expenditure Optimization and Platform Scalability: Over the past 18 months, the Company has executed a substantial, deliberate capital investment program dedicated to rebuilding and enhancing its core platform architectures, APIs, and interoperability frameworks. Following the completion of this capital investment phase and the reduction of technical debt, the Company is focused on operational efficiency. This foundation aligns with the Company's strategic focus on commercialization, enterprise licensing, and B2B partnerships across the global pharmacy and medical education sectors. 

Risk Mitigation and Long-Term Value Creation: While macroeconomic and execution risks naturally remain, The Company's dual-engine product portfolio, comprising its white-label digital health platform and marketplace and the proprietary GLM clinical reasoning engine, is intended to support the Company in navigating any market headwinds. The Company anticipates its disciplined approach to strategic partnerships, accelerated corporate adoption of digital health tools, and continuous refinement of its AI-driven platforms is intended to support the Company's strategic focus on operational efficiency, shareholder value and sustainable growth.

Selected Financial Information 

All results prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board.

Summary Statement of Net Income (Loss):

 
EBITDA and Adjusted EBITDA Calculation:

Footnotes:

Financial Statements and Management’s Discussion and Analysis

This news release should be read in conjunction with the Company’s condensed interim consolidated financial statements and related notes, and management’s discussion and analysis for the three months ended June 30, 2026, copies of which can be found at www.sedarplus.ca.

Non-GAAP Financial Measures

In addition to the results reported in accordance with IFRS, the Company uses various non-GAAP financial measures and ratios which are not recognized under IFRS, as supplemental indicators of the Company’s operating performance and financial position. These non-GAAP financial measures and ratios are provided to enhance the user’s understanding of the Company’s historical and current financial performance and its prospects for the future. Management believes that these measures provide useful information in that they exclude amounts that are not indicative of the Company’s core operating results and ongoing operations and provide a more consistent basis for comparison between quarters and years. Details of such non-GAAP financial measures and ratios and how they are derived are provided below as well as in conjunction with the discussion of the financial information reported.

Since non-GAAP financial measures do not have any standardized meanings prescribed by IFRS, other companies may calculate these non-IFRS measures differently, and our non-GAAP financial measures may not be comparable to similar titled measures of other companies. Accordingly, investors are cautioned not to place undue reliance on them and are also urged to read all IFRS accounting disclosures presented in the audited consolidated financial statements and the related notes for the quarter ended June 30, 2026.

EBITDA

EBITDA is a non-GAAP financial measure that does not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. EBITDA referenced herein relates to earnings before interest, taxes, impairment, and depreciation and amortization. This measure does not have a comparable IFRS measure and is used by the Company to assess its capacity to generate profit from operations before taking into account management’s financing decisions and costs of consuming intangible and tangible capital assets, which vary according to their vintage, technological currency, and management’s estimate of their useful life.

Adjusted EBITDA

Adjusted EBITDA is a non-GAAP financial measure that does not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. Adjusted EBITDA referenced herein relates to earnings before interest, taxes, depreciation and amortization, share-based compensation, and change in fair value of contingent consideration, and non-cash marketing costs related to our partnership with Rick Ware Racing. This measure does not have a comparable IFRS measure and is used by the Company to assess its capacity to generate profit from operations before taking into account management’s financing decisions and costs of consuming intangible and tangible capital assets, which vary according to their vintage, technological currency, and management’s estimate of their useful life, adjusted for factors that are unusual in nature or factors that are not indicative of the operating performance of the Company.

Revenue Recognition

For its U.S. operations, the Company recognizes revenue on a cash basis. In consultation with its independent auditors, the Company determined that due to the inherent complexities and varying collection timelines associated with Medicare, Medicaid, and private insurance reimbursements, collectability cannot be established with sufficient certainty at the time of service delivery. Consequently, the criteria for revenue recognition under IFRS 15 (Revenue from Contracts with Customers) are not fully satisfied until payment is received. Accordingly, revenue for these patient visits is recognized only upon actual cash receipt. Management will continue to evaluate this accounting policy as the U.S. billing infrastructure matures and historical collection patterns become more predictable.

About Rocket Doctor AI Inc.

Rocket Doctor AI Inc. delivers physician-built, AI-powered solutions designed to make high-quality healthcare accessible throughout the entire patient journey. A cornerstone of the company’s proprietary technology is the Global Library of Medicine (GLM), a clinically validated decision support system developed with input from hundreds of physicians worldwide.

Alongside the GLM is Rocket Doctor Inc, and its AI-powered digital health platform and marketplace. Having helped empower over 350 MDs to provide care to more than 750,000 patient visits, our proprietary technology software and systems enable doctors to independently launch and manage their own virtual or hybrid in-person practices - improving efficiency, restoring autonomy to MDs, and expanding patient access to care.

By reducing administrative burdens and ensuring greater consistency in care, our technology creates more time for meaningful physician-patient interactions. We are committed to reaching underserved, rural, and remote communities in Canada who often lack access to family doctors and supporting patients on Medicaid and Medicare in the United States. With advanced AI, large language models, and connected medical devices, Rocket Doctor AI is redefining modern healthcare - making it more scalable, equitable, and patient-centered.

To learn more about Rocket Doctor AI Inc’s products and services, contact: www.rocketdoctor.ai or email: [email protected] 


FOR ADDITIONAL INFORMATION, CONTACT:

Dr. Essam Hamza, CEO, Rocket Doctor AI [email protected]

For media inquiries, contact: [email protected]

Call: +1 (778) 819 8321

Cautionary Statements

This news release contains forward-looking statements relating to the future operations of Rocket Doctor AI Inc. and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will," "may," "should," "anticipate," "expects," "intends," "plans," "believes," "estimates," "projects," "forecasts," "positioned" and similar expressions. All statements other than statements of historical fact included in this release are forward-looking statements, including, without limitation, statements regarding: the Company's expectation of strong operational performance continuing into through the remainder of 2026; the anticipated increase in U.S. patient visits emanating from the Company's payer agreements in California, New York, and Maryland, and the Company's ability to monetize its access to approximately 24 million in-network patients; the anticipated continued growth in patient visit volumes through Q2 the remainder of 2026 and beyond, including projected monthly visit volumes for August 2026; the Company's strategy to scale its physician network and patient marketplace across North America; the Company's ability to fast-track provider credentialing and optimize provider onboarding velocity to meet growing patient demand and satisfy network capacity requirements; the Company's intention to prioritize the expansion of its payer partnership portfolio, both through new clients and the deepening of existing relationships; the Company's multi-state expansion strategy and the broadening of its clinical footprint throughout the remainder of 2026; the Company's pursuit of strategic partnerships to white-label its digital health platform and the scalability of that pathway; the Company's pursuit of further B2B SaaS opportunities and the anticipated expansion of its enterprise pipeline through the remainder of 2026; the deployment of the Company's platform across its diversified ecosystem of enterprise, municipal, and non-profit relationships, including with Bruderheim, Lethbridge County, Georgian Bay, Melanoma Canada, and the Central California Alliance for Health, and the anticipated outcomes and continuation of those partnerships; the anticipated outcomes and expansion of the Company's partnership with Mindstride AI to provide after-hours and overflow physician coverage; the anticipated benefits of the Company's first U.S. value-based primary care agreement and the expansion of in-network coverage; the anticipated benefits of the Company's strategic network agreement in California; the anticipated outcomes and expansion of the Company's strategic marketing partnership with Rick Ware Racing and FINTEKK AP; the anticipated outcomes and expansion of the Company's EngageWell partnership extension for underserved adults in New York City; the Company's integration of AI and automation across its core platforms, and the anticipated optimization of clinical workflows, internal efficiencies, and long-term margin expansion; the Company's strategy to commercialize its Global Library of Medicine (GLM) and the expected unlocking of verticals across medical education, pharmacy integration, and decentralized digital health ecosystems; the advancement of the Company's partnership with Rush River Research under the US$2 million NIH grant, and the expected impact of that program through 2026; the successful integration of Alea Health Holdings Ltd. anticipated outcomes and the anticipated enhancement expansion of the Company's clinical capabilities, Global Library of Medicine, and position in AI-driven mental health solutions; the anticipated outcomes and expansion of the Company's Digital Health Observership Program launched in partnership with the University of Toronto; and the Company's use of proceeds from its private placement convertible debenture financing to support U.S. expansion, product development, and working capital.

Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performances, or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to: the Company's ability to successfully grow and monetize its U.S. payer relationships; competition in the digital healthcare and telehealth markets; the Company's ability to attract and retain physicians and patients on its platform; regulatory risks in the healthcare industry in Canada and the United States; reliance on third-party payers and partners; risks associated with the provider credentialing process, including potential delays in onboarding new providers and the Company's ability to satisfy growing network capacity requirements within anticipated timeframes; the Company's ability to successfully commercialize its B2B SaaS and enterprise offerings within anticipated timelines and to attract and retain enterprise clients across municipal, non-profit, and commercial sectors; regulatory, technology, and commercialization risks associated with the Company's expansion of its Global Library of Medicine into pharmacy integration and medical education verticals; risks relating to the anticipated outcomes and continuation of the Company's academic, municipal, and non-profit partnerships, including the Digital Health Observership Program with the University of Toronto and the EngageWell partnership in New York City; risks relating to the Company's ability to successfully integrate acquired businesses realize the anticipated benefits of its value-based primary care agreement and its strategic network agreement in California, including Alea Health Holdings Ltd., reliance on third-party payers and reimbursement structures; risks associated with the Company's marketing partnerships, including the partnership with Rick Ware Racing and FINTEKK AP, and the ability to realize anticipated brand exposure and market awareness benefits; risks relating to the Company's partnership with Mindstride AI, including the ability to deliver after-hours and overflow physician coverage at scale; the Company's ability to continue to secure research funding and execute on federal grant programs; risks relating to the Company's cash-basis recognition of certain U.S. revenues; potential dilution to existing shareholders resulting from the conversion of unsecured convertible debentures issued under the Company's private placement financing; general economic conditions; and other risks detailed from time to time in the filings made by Rocket Doctor AI Inc. with securities regulators.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Rocket Doctor AI Inc. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Rocket Doctor AI Inc. will only update or revise publicly the included forward-looking statements as expressly required by Canadian securities law. 

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