Datametrex to Pay Certain Debt and Services With Shares
December 12 2019 - 4:27PM
Datametrex AI Limited (the
“
Company” or “
Datametrex”)
(
TSXV: DM, FSE: D4G) announces that it has made
application to the TSX Venture Exchange (“
TSXV”)
to pay $454,000 of debt with common shares of the Company at a
deemed issue price of $0.05 per common share. All creditors
to which the foregoing relates have entered into debt settlement
agreements with the Company and have agreed to accept common shares
in lieu of cash.
The Company has also made application to the TSX-V to pay for
certain advertising services with common shares being provided to
the Company by AGORACOM. The advertising services agreement
with AGORACOM is for a period of one year and the Company is
required to pay AGORACOM five $12,000 payments throughout the year
for a total of $60,000, payable in common shares of the Company at
a deemed issue price equal to the greater of (a) $0.05; and (b) the
market price at the time of issue.
Issuance of any shares for debt or services is conditional upon
the Company receiving final approval from the TSX-V. Upon
receipt of TSX-V approval, the first payment of $12,000 will be
made to AGORACOM in common shares at a deemed issue price of
$0.05. All common shares issued either for debt or for
services will be subject to a hold period of four months and a day
following the date of issue.
About Datametrex
Datametrex AI Limited is a technology focused
company with exposure to Artificial Intelligence and Machine
Learning through its wholly owned subsidiary, Nexalogy
(www.nexalogy.com).
For further information, please
contact:
Jeff Stevens - PresidentPhone: (416) 482-3282Email:
jstevens@datametrex.com
Forward-Looking Statements
This news release contains “forward-looking
information” within the meaning of applicable securities
laws. All statements contained herein that are not clearly
historical in nature may constitute forward-looking information. In
some cases, forward-looking information can be identified by words
or phrases such as “may”, “will”, “expect”, “likely”, “should”,
“would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”,
“estimate”, “believe” or the negative of these terms, or other
similar words, expressions and grammatical variations thereof, or
statements that certain events or conditions “may” or “will”
happen, or by discussions of strategy.
Readers are cautioned to consider these and
other factors, uncertainties and potential events carefully and not
to put undue reliance on forward-looking information. The
forward-looking information contained herein is made as of the date
of this press release and is based on the beliefs, estimates,
expectations and opinions of management on the date such
forward-looking information is made. The Company undertakes no
obligation to update or revise any forward-looking information,
whether as a result of new information, estimates or opinions,
future events or results or otherwise or to explain any material
difference between subsequent actual events and such
forward-looking information, except as required by applicable
law.
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