TORONTO, Nov. 01, 2017 (GLOBE NEWSWIRE) -- Datametrex AI Limited (the “Company” or
“Datametrex”) (TSXV:DM) (FSE:D4G) is pleased to announce a non-brokered private placement of up to 50,000,000
units (each a “Unit”) at a price of $0.10 per Unit, for gross proceeds of up to $5,000,000 (the
“Offering”). The Company has the option to increase the size of the Offering by up to 15% at any time up to 48
hours before the closing the Offering.
Each Unit consists of one common share in the capital of the Company and one common share purchase warrant, with
each warrant exercisable into one common share at a price of $0.15 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 $0.20 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 15th day following the issuance of the Warrant Acceleration Press Release.
The Units are being issued in connection with the previously announced acquisition of 9172-8766 Quebec Inc.
(doing business as Nexalogy Environics) (“Nexalogy”) and 9225-6965 Quebec Inc., an affiliate of Nexalogy, pursuant
to a share purchase agreement dated September 25, 2017 (the “Purchase Agreement”). A copy of the Purchase
Agreement can be found on the Company’s SEDAR profile.
Upon satisfaction of certain conditions in the Purchase Agreement (the “Release Conditions”),
the closing of the Offering will occur. The Company expects the Release Conditions to be satisfied on or about November 20, 2017.
In the event that the Release Conditions are not satisfied by December 20, 2017, the proceeds of the Offering will be returned to
subscribers, without interest.
The Company may, as compensation to individuals that introduce subscribers to the Company (a
“Finder”), and subject to regulatory approval: (i) pay cash commissions; and (ii) issue non-transferable common
share purchase warrants (with identical terms as those warrants issued under the Offering) equal to 8% of the gross aggregate
proceeds (the “Finder’s Fee”) of a subscription made by a subscriber who is introduced to the Company by such
Finder upon satisfaction of the Release Conditions.
The Offering is subject to certain conditions, including (but not limited to) the receipt of approval from the
TSX Venture Exchange. The securities issued in connection with this private placement will be subject to a four-month hold period.
Insiders may participate in the Offering.
About Datametrex
Datametrex is a big data company for retail, brands, and other organizations. The company’s DataTap technology
captures all data sent from the POS to the receipt printer and scanner, and then sends it to the cloud, so it can be presented for
key decision making. The company is planning on integrating the DataTap environment to decentralized blockchains to further
authenticate and validate the data collected. To learn more about the Company, visit: www.datametrex.com.
For further information, please contact:
Jeffrey Stevens – President & COO
Phone: (647) 400-8494
Email: jstevens@datametrex.com
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities
laws, including statements regarding the terms, timing and completion of the proposed private placement and the anticipated use of
proceeds. 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 satisfaction or waiver of the conditions precedent to
the completion of the private placement, the receipt of the approval of the TSX Venture Exchange, and the lack of material changes
to general economic, market and business conditions. Forward-looking information is subject to the risk that those factors will not
materialize, and to other risks, including the closing of the transaction contemplated by the Purchase Agreement. 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.
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.
