Datametrex Announces Final Settlement With Former Ronin Executive
March 01 2019 - 12:23AM
Datametrex AI Limited (the “
Company” or
“
Datametrex”) (
TSXV: DM, FSE:
D4G) announces that it has entered into an amended and
final settlement agreement (the “
Amended Settlement
Agreement”) with Mr. Darcy Taylor, the former President of
Ronin Blockchain Corp. (“
Ronin”), a wholly owned
subsidiary of the Company, based on the original terms of which
were previously announced on November 27, 2018. In accordance with
the terms of the Amended Settlement Agreement, Mr. Taylor has
entered into an agreement with the Company to serve as an
independent consultant to assist and advise the Company on matters
relating to Ronin on a fixed hourly fee basis without minimum
hours. In connection with the terms of settlement, the Company has
issued to Mr. Taylor 363,636 common shares in the capital of the
Company (“
Common Shares”) in satisfaction of
$20,000 of indebtedness at a deemed price of $0.055 per share, and
granted Mr. Taylor 500,000 stock options pursuant to the Company’s
stock option plan. Each option will vest immediately and be
exercisable for one Common Share at an exercise price equal to
$0.20 per share for a period of 12 months from the date of
issuance. The 363,636 Common Shares were issued to preserve the
Company’s cash and was approved by the directors of the Company and
by the TSX Venture Exchange.
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) and Implementing Blockchain technology for
secure Data Transfers through its investee company, Graph
Blockchain (www.graphblockchain.com).
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.
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