TSX Venture Exchange Symbol "DM"
TORONTO, March 20, 2018 /CNW/ - Datametrex AI Limited
(the "Company" or "Datametrex") (TSXV: DM, FSE:
D4G) is pleased to announce that its joint venture company,
Graph Blockchain Limited ("Graph") has filed the preliminary
non-offering prospectus ("NOP") of Graph Blockchain Limited
("Graph") with the Ontario Securities Commission
("OSC").
On January 3, 2018 Datametrex and
its San Francisco based joint
venture partner Bitnine Global Inc. ("Bitnine") announced
its intention to explore a going public transaction in order to
create a stand-alone publicly traded company which will
commercialize the blockchain technology being utilized and
developed by Graph across a number of high growth sectors (the
"Proposed Going Public Transaction").
Pursuant to the terms of the Proposed Going Public Transaction
and subject to regulatory approval, it is anticipated that
Datametrex will set a record date in the near future, (the
"Record Date") pursuant to which shareholders as of the
Record Date will be entitled to receive one (1) common share in the
capital of Graph for every twenty (20) common shares of Datametrex
held as of the Record Date.
"The fact that Graph has successfully secured three (3)
contracts for its blockchain solutions to the tune of approximately
$800,000 CAD in the past four months
supports our view that it is a stand-alone company. In partnering
with IBM and working with our team in Canada, we are confident in Graph's ability to
build on this impressive momentum. Datametrex intends to remain the
largest shareholder of Graph as it goes public, and our
shareholders of Record Date will receive the benefit of a share
dividend for their support to Datametrex" says Andrew Ryu, Chairman and CEO of the Company.
The NOP is a non-offering prospectus, which contains important
information relating to Graph's business and operations and common
shares, and is still subject to completion or amendment and final
receipt and acceptance by the OSC. Copies of the NOP are available
under Graph's profile on SEDAR at http://www.sedar.com. The
Company will update investors once this has been accepted in final
form by the Ontario Securities Commission.
About Graph Blockchain
Graph Blockchain is a joint venture formed between Datametrex
and Bitnine. The JV mandate is to bring the value of Graph Database
technology to the blockchain environment where there is a great
need to enhance performance and present the verified and
authenticated data in unique ways.
About Datametrex AI Ltd
Datametrex AI Limited is a technology focused company with
exposure to four exciting verticals. Big Data, collecting data from
retail point of sales environments. Artificial Intelligence and
Machine Learning through its wholly owned subsidiary, Nexalogy
(www.nexalogy.com). Implementing Blockchain technology for secure
Data Transfers through its joint venture company, Graph Blockchain
(www.graphblockchain.com). Industrial scale Cryptocurrency Mining
through its wholly owned subsidiary, Ronin Blockchain Corp
(www.roninblockchain.com).
Additional information on Datametrex is available at:
www.datametrex.com
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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 contains "forward-looking information" within
the meaning of applicable Canadian securities laws, including
statements regarding the timing, approval and completion of
the Proposed Going Public Transaction. Forward-looking information
is not a guarantee of future performance or results, since it
involves risks and uncertainties. There is no assurance that
forward-looking statements will prove to be accurate, and actual
results and future events could differ materially from those
anticipated in forward-looking statements. Some of the factors on
which the forward-looking statements are premised include (but are
not limited to) the receipt of necessary approvals from
securities regulatory authorities for the Proposed Going Public
Transaction. Except as required by law, the Company does not assume
and expressly renounces any obligation to update any
forward-looking information, which is only applicable on the date
on which it is given.
SOURCE Datametrex AI Limited