TORONTO, March 18, 2019 (GLOBE NEWSWIRE) -- Datametrex AI Limited (the “Company” or
“Datametrex”) (TSXV: DM, FSE: D4G) announces that it has entered into a final settlement
agreement (the “Settlement Agreement”) with the owners of 0718512 BC Ltd., a company representing 25% of the
vendors of Ronin Blockchain Corp. (“Ronin”), a wholly owned subsidiary of the Company. In connection with the
terms of settlement, the Company will issue 2,000,000 common shares in the capital of the Company (“Common
Shares”) at a deemed price of $0.05 per share for total consideration of $100,000.
A Statement of Claim was issued to the vendors of Ronin Blockchain Corp. on January
16th, 2019 alleging the vendors breached certain representations and warranties in the share purchase agreement entered
into between Datametrex and the Vendors on January 15, 2018 (the “Share Purchase Agreement”) pursuant to which Datametrex acquired
all of the issued and outstanding common shares of Ronin from the Vendors (the “Transaction”).
“We are happy to report that we successfully negotiated a settlement with the owners of 0718512 BC Ltd. This
group owned 25% of Ronin Blockchain and agreed to settle for $100,000 representing 20% of the final payment. We believe this is a
fair and reasonable settlement and look forward to negotiating with the remaining 75% of the vendors,” says Andrew Ryu, CEO and
Chairman of the Company.
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 & COO
Phone: (647) 400-8494
Email: 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.