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 its plan to
spin out its joint venture entity Graph Blockchain Limited
(“
Graph”), together with all of its assets and
liabilities as a separate operating entity to create a standalone
publicly traded company (the
“Proposed Spin-Out”).
Pursuant to the terms of the Proposed Spin-Out,
it is anticipated that Datametrex will set a record date in the
future, (the “Record Date”) pursuant to which
shareholders as of the Record Date will be entitled to receive one
(1) common share in the capital of Graph for every twenty (20)
common shares of Datametrex held. The Proposed Spin-Out will be
subject to regulatory approval, including the approval of the TSX
Venture Exchange and the shareholders of Datametrex (if
required).
Graph Blockchain is in the process of building a
prototype for a utility company to analyze electric vehicle
charging stations and has a contract with Revive Therapeutics Ltd.
(TSXV:RVV) (OTCQB:RVVTF), to develop the blockchain component in
Revive’s proprietary patient-focused program enabled by Nexalogy’s
artificial intelligence (“AI”) dedicated to the medical cannabis
industry.
Graph Blockchain through graph database and
blockchain technology provides a unique way of organizing,
analyzing and displaying blockchain transactional data in
real-time. Our Graph Database technology presents Blockchain data
up to 1,000 times faster than traditional methods from 7
transactions per second (“TPS”) to 7,000 TPS. It is the most
effective technology 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 see a tremendous opportunity to realize
greater shareholders value by spinning out Graph Blockchain as a
stand alone company that will ultimately provide shareholders the
opportunity to realize the benefit of additional liquidity of their
investment. We firmly believe that the sum of the parts is worth
more than the whole when comparing Datametrex market cap to our
peers and we will analyse each vertical to determine if a spin out
is the best option for Datametrex shareholders,” says Andrew Ryu,
Chairman and CEO of the Company.
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 &
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, information with respect to
prospective financial performance, anticipated capital funding and
sources, proposed or potential acquisitions, estimated operating
and sales costs, estimated market drivers and demand, business
prospects and strategy, new markets for growth and financial
position. 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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