Datametrex AI Limited (the “
Company” or
“
Datametrex”) (TSXV:DM) (FSE:D4G) and its San
Francisco based joint venture partner Bitnine Global Inc.
(“
Bitnine”) are pleased to announce the closing of
a non-brokered private placement (the
“Financing”)
for Graph Blockchain Limited (“
Graph” or the
“Joint Venture”). As a result of increased demand
for the Financing, Graph increased the size of the offering from
$1,000,000 to approximately $3,500,000. Pursuant to the terms of
the Financing, an aggregate of 35,253,764 common shares in the
capital of Graph were issued at a price of $0.10 per common share.
The use of proceeds from the Financing will
provide Graph with the funding to continue to build its “Graph
Blockchain” solutions for corporations and government agencies.
Graph is developing a prototype for a utility company to analyze
electric vehicle charging stations. Graph is also developing the
blockchain component dedicated to the medical cannabis
industry.
The graph database and blockchain technology
being developed by the Joint Venture provides a unique way of
organizing, analyzing and displaying blockchain transactional data
in real-time. The Graph Database technology being developed by the
Joint Venture processes blockchain data up to 1,000 times faster
than traditional methods from 7 transactions per second
(“TPS”) to 7,000 TPS. It is believed to be one of
the most effective technologies to store, manage and present
blockchain transactions specifically in peer-to-peer networks
making it ideal for fintech, banking and other mission critical
environments.
“We have deep domain expertise in Graph
Databases and its inherent value in analyzing and presenting data
much faster than traditional table based data structures. Bringing
this process to the various private and public blockchain platforms
is the mission and mandate of the JV, where we can increase
performance of the blockchain and data presentation layer
considerably,” says CheolSun Kang, CEO of Bitnine.
“Having to upsize this Financing is a great vote
of confidence for the Joint Venture. We look forward to moving
forward with our planned spin-out of Graph as previously announced.
Graph Blockchain technology is truly compelling for the industry,
by not only improving transactional blockchain performance but by
presenting data through graphs which is more effective than
traditional relational databases,” said Andrew Ryu, CEO and
Chairman of the Company.
About Graph Blockchain
Graph Blockchain is a joint venture formed
between Datametrex and Bitnine. The JV mandate is to bring the
value of graph database technology to the blockchain environment
where there is a great need to speed performance and present the
verified and authenticated data more effectively. Datametrex
through Nexalogy and Bitnine graph technology will add tremendous
value to blockchain processing and the presentation of its
data.
About Bitnine Inc.
Bitnine is a San Francisco based leader of graph
business solutions. Bitnine transcends big data problems by
creating solutions that are consistently evolving. Bitnine was
founded on principles of collaboration, innovation, science and
creativity. Bitnine specializes in Graph Database technology
solutions for key and unique data analysis.
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.
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all upcoming news releases, articles comments and
questions.
For further information, please
contact:
Jeffrey Stevens – President &
COOPhone: (647) 400-8494Email:
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 spin-out of Graph. 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.
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