Datametrex AI Limited (the “
Company” or
“
Datametrex”) (TSX-V:DM) (FSE:D4G) is pleased to
announce that it has closed its previously announced and upsized
non-brokered private placement of 8,571,427 units (each a
“
Unit”) for gross proceeds of $3,000,000 (the
“
Offering”). Pursuant to the terms of the
subscription agreement applicable to the Offering, the proceeds of
the Offering are to be held in trust pending completion of the
Company’s previously announced acquisition of Ronin Blockchain
Corp.
“We are thrilled to have the continued support
of our shareholders. We increased the size of the offering from
$2,000,000 to $3,000,000 to accommodate demand. This is further
validation of our vision for Datametrex and we look forward to
increasing shareholder value with the use of these funds,” said
Andrew Ryu, CEO and Chairman of the Company.
Each Unit consists of one common share in the
capital of the Company and one half of one common share purchase
warrant, with each whole warrant exercisable into one common share
at a price of $0.55 for a period of 18 months after closing of the
Offering (the “Warrant Expiry Date”). In the event
that the volume-weighted average trading price of the common shares
on the TSX Venture Exchange equals or exceeds $0.65 per common
share for any period of 15 consecutive trading days, the Company
may, at its option, within 10 business days following such 15-day
period, accelerate the Warrant Expiry Date by issuing a press
release (a “Warrant Acceleration Press Release”),
and, in such case, the Warrant Expiry Date shall be deemed to be
5:00 p.m. (Toronto time) on the 30th day following the issuance of
the Warrant Acceleration Press Release.
In connection with the Offering, the Company, as
compensation to individuals that introduced subscribers to the
Company (each a “Finder”), (i) paid cash
commissions equal to CAD$79,795.97; and (ii) issued 227,988
non-transferable common share purchase warrants (with identical
terms as those warrants issued under the Offering) (the
“Finder’s Fee”).
The securities issued in connection with the
Offering will be subject to a four-month hold
period.
About the Company
Datametrex AI Limited is focused on the
collection of retail sales data, providing Government Agencies and
Fortune 500 corporations with Artificial Intelligence solutions and
implementing Blockchain technology for secure Data Transfers and
Cryptocurrency Mining.
Additional information on Datametrex is
available at: www.datametrex.com.
To stay informed about Datametrex,
please join our Investor Group on 8020
Connect http://bit.ly/2fPUNwF for
all upcoming news releases, articles comments and
questions.
For further information, please
contact:
Jeffrey Stevens – President &
COOPhone: (647) 400-8494Email:
jstevens@datametrex.com
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Forward-Looking Statements
This news release includes certain
forward-looking statements within the meaning of Canadian
securities laws. Such forward-looking information and statements
are not representative of historical facts or information or
current condition, but instead represent only the Company`s belief
regarding future events, plans or objectives, many of which, by
their nature, are inherently uncertain and outside of the Company’s
control.
Generally, such forward-looking information or
statements can be identified by the use of forward-looking
terminology such as “plans”, “expects” or “does not expect”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates” or “does not anticipate”, or “believes”,
or variations of such words and phrases or may contain statements
that certain actions, events or results “may”, “could”, “would”,
“might” or “will be taken”, “will continue”, “will occur” or “will
be achieved”.
The forward-looking information contained herein
includes, but is not limited to, statements regarding the terms,
timing and completion of the proposed acquisition. By identifying
such information and statements in this manner, the Company is
alerting the reader that such information and statements are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of the Company to be materially different from
those expressed or implied by such information and statements.
Although the Company believes that the
assumptions and factors used in preparing, and the expectations
contained in, the forward-looking information and statements are
reasonable, undue reliance should not be placed on such information
and statements, and no assurance or guarantee can be given that
such forward-looking information and statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such information and
statements. Accordingly, readers should not place undue reliance on
any forward-looking information or statements contained in this
press release.
The forward-looking information contained in
this press release is made as of the date hereof, and the Company
does not undertake to update any forward-looking information that
is contained or referenced herein, whether as a result of new
information, future events or otherwise, except in accordance with
applicable securities laws. All subsequent written and oral forward
looking information and statements attributable to the Company or
persons acting on its behalf are expressly qualified in its
entirety by this notice.
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