- Datametrex (TSXV:DM) has closed the sale of its electric vehicle charging business to Graph Blockchain (CSE:GBLC)
- Graph Blockchain is a technology-focused company with exposure to private blockchain and electric vehicle charging solutions. GBLC shares have lost more than 96 per cent since 2018
- Graph purchased Datametrex Electric Vehicle Solutions for C$3.75 million and issued 15 million common shares to Datametrex priced at C$0.05 each for a total of C$750,000
- From mid-November to mid-December, Datametrex stock has traded between $0.03 to $0.02 per share
Datametrex (TSXV:DM) has closed the sale of its electric vehicle charging business to Graph Blockchain (CSE:GBLC).
Graph Blockchain is a technology-focused company with exposure to private blockchain and electric vehicle charging solutions. GBLC shares have lost more than 96 per cent since 2018.
Graph purchased Datametrex Electric Vehicle Solutions for C$3.75 million, contingent on certain milestones over a three-year period. As per the agreement, it issued 15 million common shares to Datametrex priced at C$0.05 each for a total of C$750,000.
The sale was motivated by Datametrex’s strategic focus on its remaining healthcare, artificial intelligence and machine learning businesses.
By close, Datametrex’s current 4.8 per cent ownership of Graph Blockchain will grow to 19.66 per cent.
“The sale of DMEVS to Graph Blockchain marks a pivotal step in Datametrex’s growth, aligning us with a partner who shares our vision for innovation in the tech sector,” Datametrex’s (now-ex) CEO, Marshall Gunter said in a Dec. 7 news release. This deal not only benefits our shareholders but also promises continued success and advancement in the electric vehicle industry under Graph Blockchain’s stewardship.”
Datametrex AI Inc. is actively developing innovative technologies in artificial intelligence, machine learning and healthcare.
From mid-November to mid-December, Datametrex stock has traded between $0.03 to $0.02 per share.
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