up date 2023-12-15 08:01 ET - News Release
Vancouver, British Columbia--(Newsfile Corp. - December 15, 2023) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex'') is pleased to announce the voting results from the Annual and Special Meeting of Shareholders (the "Meeting") held on December 14, 2023.
At the Meeting, a total of 47,237,387 shares or 11.7% of the issued and outstanding shares of the Company were represented in person and by proxy. Details of all resolutions that were voted upon are set out in the Management Information Circular (the "Circular") dated October 26, 2023. The Circular is available on SEDAR+ (www.sedarplus.ca).
All the resolutions submitted to shareholders were approved, including: electing three directors of the Company: Charles Park, the Honourable James Peterson and Paul Haber; approving the Company's new omnibus incentive plan; and approving a name change for the Company.
Normal Course Issuer Bid
The Company is also pleased to announce results of the Company's successful normal course issuer bid ("NCIB") which commenced June 8, 2022, and which was subsequently amended to increase the maximum number of shares for repurchase to 34,789,603 shares. The NCIB terminated June 7, 2023 with the repurchase and cancellation by the Company of an aggregate of 34,198,000 shares at an average cost of $0.10 per share for a total of $3,538,930 invested. The Company paid PI Financial Corp. a total of $35,142.86 in fees to conduct the NCIB on behalf of the Company. A copy of the Company's notice with respect to the NCIB filed with TSXV may be obtained by any shareholder without charge by contacting Charles Park, CEO, at cpark@datametrex.com.
Cancellation of Options
The Company also announces the cancellation of its plan to grant stock options (see press release dated November 13, 2023) pursuant to the Company's previous stock option plan.
While the grant was approved and announced on November 13, 2023, the Company has decided to cancel its plan to issue incentive stock options for the purchase of up to 24.5 million common shares. This decision is part of the Company's ongoing review and refinement of its compensation strategy.