TORONTO, Jan. 12, 2018 (GLOBE NEWSWIRE) -- Datametrex AI Limited (the “Company” or
“Datametrex”) (TSX-V:DM) (FSE:D4G) is pleased to announce that it has closed its previously announced and upsized
non-brokered private placement of 8,571,427 units (each a “Unit”) for gross proceeds of $3,000,000 (the
“Offering”). Pursuant to the terms of the subscription agreement applicable to the Offering, the proceeds of the
Offering are to be held in trust pending completion of the Company’s previously announced acquisition of Ronin Blockchain Corp.
“We are thrilled to have the continued support of our shareholders. We increased the size of the offering from
$2,000,000 to $3,000,000 to accommodate demand. This is further validation of our vision for Datametrex and we look forward to
increasing shareholder value with the use of these funds,” said Andrew Ryu, CEO and Chairman of the Company.
Each Unit consists of one common share in the capital of the Company and one half of one common share purchase
warrant, with each whole warrant exercisable into one common share at a price of $0.55 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 $0.65 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 30th day following the issuance of the Warrant Acceleration Press Release.
In connection with the Offering, the Company, as compensation to individuals that introduced subscribers to the
Company (each a “Finder”), (i) paid cash commissions equal to CAD$79,795.97; and (ii) issued 227,988
non-transferable common share purchase warrants (with identical terms as those warrants issued under the Offering) (the
“Finder’s Fee”).
The securities issued in connection with the Offering will be subject to a four-month hold
period.
About the Company
Datametrex AI Limited is focused on the collection of retail sales data, providing Government Agencies and
Fortune 500 corporations with Artificial Intelligence solutions and implementing Blockchain technology for secure Data Transfers
and Cryptocurrency Mining.
Additional information on Datametrex is available at: www.datametrex.com.
To stay informed about Datametrex, please join our Investor Group on 8020 Connect http://bit.ly/2fPUNwF for all upcoming news releases, articles
comments and questions.
For further information, please contact:
Jeffrey Stevens – President & COO
Phone: (647) 400-8494
Email: 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.
Forward-Looking Statements
This news release includes certain forward-looking statements within the meaning of Canadian securities laws.
Such forward-looking information and statements are not representative of historical facts or information or current condition, but
instead represent only the Company`s belief regarding future events, plans or objectives, many of which, by their nature, are
inherently uncertain and outside of the Company’s control.
Generally, such forward-looking information or statements can be identified by the use of forward-looking
terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements
that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will
be achieved”.
The forward-looking information contained herein includes, but is not limited to, statements regarding the
terms, timing and completion of the proposed acquisition. By identifying such information and statements in this manner, the
Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different
from those expressed or implied by such information and statements.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained
in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and
statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be
accurate, as actual results and future events could differ materially from those anticipated in such information and statements.
Accordingly, readers should not place undue reliance on any forward-looking information or statements contained in this press
release.
The forward-looking information contained in this press release is made as of the date hereof, and the Company
does not undertake to update any forward-looking information that is contained or referenced herein, whether as a result of new
information, future events or otherwise, except in accordance with applicable securities laws. All subsequent written and oral
forward looking information and statements attributable to the Company or persons acting on its behalf are expressly qualified in
its entirety by this notice.