Toronto, Ontario--(Newsfile Corp. - April 8, 2024) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex") is pleased to announce the signing of a non-binding Letter of Intent ("LOI") on April 5, 2024, to acquire the mobile game Cereal Crunch from Sariel Diagnostics Corp. ("Sariel").
Key Acquisition Details
Asset Highlights: Datametrex will acquire significant assets associated with Cereal Crunch, including game software, intellectual property, user databases, and the Crunch Token, launched on April 2, 2024. The Crunch Token is a key component of the Cereal Crunch game ecosystem, enabling its play-to-earn blockchain gaming model. Also included in the transaction is an approximately $300,000 cash component, and Sariel's Coinsquare account, critical for managing game-related cryptocurrency transactions.
Purchase Price: The acquisition is valued at $3,500,000, to be paid in 70,000,000 common shares of Datametrex at a deemed price of $0.05 per share.
Blockchain Mobile Game: With its unique match-3 mechanics and cryptocurrency rewards system, Cereal Crunch aims to offer a new gaming experience that blends entertainment with the potential for crypto earnings.
Charles Park, President of Datametrex, commented, "This acquisition marks a significant step for Datametrex, emphasizing our focus on innovative technologies in the gaming and cryptocurrency sectors. We are excited about the possibilities that Cereal Crunch presents and are committed to its successful development and launch."
John Karagiannidis, President of Sariel Diagnostics Corp., stated, "Partnering with Datametrex represents a milestone moment for Sariel. This move not only validates the hard work our team has put into developing Cereal Crunch but also aligns with our mission to innovate within the crypto and AI spaces. We're confident that under Datametrex's stewardship, Cereal Crunch and the Crunch Token will achieve the success and recognition it deserves."
Completion of the acquisition is subject to customary closing conditions, including the execution of a definitive agreement, satisfactory due diligence, and obtaining the necessary regulatory approvals.
About Datametrex
Datametrex is an innovative leader in Technology Solutions, Artificial Intelligence, and Healthcare. The Company excels in delivering tools and solutions that enhance operational efficiencies and business outcomes. With a commitment to innovation, Datametrex is dedicated to supporting enterprises by setting a new standard for business protocols through cutting-edge technology.
For more on Datametrex, please visit our YouTube channel and Company website.
About Sariel
Sariel is a crypto & AI technology company with a focus on developing play-to-earn mobile blockchain games and Hypercycle AI. Hypercycle AI represents a new approach to blockchain technology, featuring a lightweight, agent-system-based ledgerless blockchain microservice, designed to innovate in the space of digital transactions and gaming.
For more on Sariel, please visit the Company website.
For Additional Information
Charles Park, CFA
Chief Executive Officer & Director
cpark@datametrex.com
(416) 901-5611 x203
Neither 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
All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements, including but not limited to the proposed spin-out transaction. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
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